Many economists say Obama jobs plan will help

WASHINGTON – A tentative thumbs-up.

  • In this Aug. 31, 2011 file photo, people wait to enter a job fair at Crenshaw Christian Center in South Los Angeles. That was the assessment Thursday night from economists, who offered mainly positive reviews of President Barack Obama’s $447 billion plan to stimulate job creation.

Some predicted it would put hundreds of thousands of people back to work next year, mainly because a Social Security tax cut for workers would be deepened and extended to small businesses.

“Payroll tax cuts are very powerful,” said Allen Sinai, chief economist of Decision Economics. “They provide a boost to direct income and, in turn, spending, which is important to growth.”

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