President Obama or Romney? Which Jobs Plan Would Work?
President Obama and Mitt Romney have both put forth plans to put America back to work. And they couldn't be more different.
President Obama's American Jobs Act is actually a series of bills that offer government money for specific jobs, like firefighters, teachers and construction workers; and taxes the wealthiest Americans a little higher.
Mitt Romney's plan focuses on cutting taxes and regulations to try and encourage private businesses to expand and create jobs in the private sector.
According to economics Brad Schiller, Obama's plans haven't worked yet and he says they never will.
"History shows us that it is the private sector that must create the jobs if we want them to be sustainable. What happens when the government money runs out? People are off work again. It's the private sector that needs to create the jobs and sustain them," Schiller says.
And he's not alone - a CNN poll just last week surveyed 20 economists - both Republicans and Democrats - across the country asking them to grade Obama's plan and how well it's worked so far and the grade overall came in at a 'D'.
Schiller, who worked as an economic advisor for Presidents Nixon, Reagan, Carter and Clinton says he doesn't expect any businesses even to feel stable until after the election when at least they know what policies they'll be dealing with for the future.
Saturday, May 25 2013 2:16 AM EDT2013-05-25 06:16:04 GMT
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