Obama's plan won't help for 1 main reason: people have lost faith in him and Congress will not be willing to hop on board at this point in his presidency... another reason why this plan is destined to fail.
Obama's only goal is to get re-elected, he will come up with nice sounding plans............they work or not, that's not his worry.
There really isn't too much that Obama or any president can do. Globalization and techonolgy advances have made a lot of the American labor force obsolete. This has been 30 years in the making. THe Q/A below is from 1994. http://www.multinationalmonitor.org/hyper/issues/1994/10/mm1094_06.html MM: Who will be the winners and losers under a system of global free trade? Goldsmith: The losers will, of course, be those who become unemployed as a result of production being moved offshore. They would also be those who lose their jobs because their companies do not move offshore and are not able to compete with cheap imported products. Finally, they will be all those affected by the reduction in their earning capacity following the shift in the sharing of value- added. The winners will be those who can benefit from an almost inexhaustible supply of very cheap labor. They will be the companies who move their production offshore to low-cost areas; the companies who will benefit from paying lower salaries at home; and those who have capital to invest offshore, and who will receive larger dividends as a result of the very low-cost labor. But they would be like the winners of a poker game on the Titanic. The wounds inflicted on their societies would be too deep to be acceptable without brutal consequences. It should also be remembered that one of the characteristics of developing countries is that a small handful of people control the overwhelming majority of their nation's resources. It is these people who own the major part of their nation's industrial, commercial and financial enterprises and who assemble the cheap labor which is used to manufacture products for the developed world. Thus, it is the poor in the rich countries who will subsidize the rich in the poor countries. This will have a deep impact on the social cohesion of nations. "
No. Republicans have blown the ponzi too far with their deficit spending and debt binge. All Obama can do is stimulus, too prolong the ponzi. As that is not possible in infinity, we first need a true depression caused by republicans, before economy can improve.
Of course. Too bad no politician has a clue or is inclined to do what's necessary for the unemployed in the US to have a chance in this globalized world.
There are people who have been paying attention to the state of the world's social economy for many decades and they definitely won't be the ones losing their income.
Now the the cost of this jobs plan is already $150 billion more than expected, originally it was suppose to cost "ONLY" $300 Billion, now $450 Billion!!!! HA as I said many times over you CANNOT stimulate an economy with worthless dollars, this is not the way to create jobs, this is not the way to create economic growth, this is totally the wrong way to fix this crisis because the only thing that can fix this economic crisis is time, lots and lots and lots of time!