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Liveblogging World War II: September 4, 1941

Macro Advisers: Likely Obama Jobs Plan Impotent

Macro Advisers, according to Sara Murray:

Forecaster Questions Potency of Likely Obama Jobs Plan: President Barack Obama is expected to unveil his plan to aid the struggling economy.... Macroeconomic Advisers isn’t optimistic it will provide much of a boost.... [T]he St. Louis economic forecasting firm analyzed a combination of proposals that have been discussed – including extending unemployment benefits, renewing a payroll tax cut due to expire at the end of 2011, some business tax breaks, workforce training programs and infrastructure spending. “Because none of these ideas address the main impediment to hiring-persistently insufficient final demand-our expectations for the success of a jobs bill are, well, not so great,” the firm said...

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