Economists Like Obama Job Act

This is encouraging if you believe economists are real people.

Mark Zandi, chief economist at Moody’s Analytics: “The plan would add 2 percentage points to GDP growth next year, add 1.9 million jobs, and cut the unemployment rate by a percentage point.”

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"go along way toward stabilizing confidence, forestalling another recession, and jump-starting a self-sustaining economic expansion.”

Goldman Sachs’ forecasters: “Thus, if enacted in its entirety, this proposal could shift the fiscal impulse in 2012 from -1.1% of GDP to +0.4% of GDP. However, it is not yet clear how congressional Republicans will respond to the proposal, and we are not changing any of our estimates at this time.”

Paul Krugman: Still, the plan would be a lot better than nothing, and some of its measures, which are specifically aimed at providing incentives for hiring, might produce relatively a large employment bang for the buck.

Heidi Shierholz, Economic Policy Institute: President Obama’s jobs plan, if implemented, would boost employment by around 4.3 million jobs (yes, 1.6 million of those jobs would come from continuing temporary policies that are already in place and supporting the economy today, but the new initiatives alone would generate 2.6 million jobs).

All quotes from WSJ.