23 million

[FogerRox]

A return to New Deal infrastructure spending: 6% of GDP-900 billion, would create about 23 million jobs (22.5).

26 million under employed or unemployed, U6 is at 21.5 million. Fudge it: 23 million.

The CBO scoring of the 75 yr SS shortfall is .6% of GDP, which would equal 23 million jobs at 31.5k producing 89.3 billion in FICA. 15 trillion dollar economy, .6% is 90 billion.

[tularetom]

1. Yeah but those 23 million would have to be paid for those jobs

And all that money that would have to go to pay them would be unavailable for the 1% to stick in their offshore accounts.

You have to understand the new economy.

[FogerRox]

4. LOL, no I dont choose to understand the new economy, it doesnt understand me.

[patrice]

2. Would you break that down for the un-initiated a little, please? Sentences would help me. nt

[FogerRox]

3. Infrastructure multplier is

2 to 2.5, in a recession use 2.5. In Good times use 2.

We have a 15 trillion dollar economy. 6% of GDP (15trillion times 6%) is 900 billion, times 2.5% equals 22.5 million jobs created.

[mbperrin]

5. Okay. If the US would return to the same percentage on spending for infrastructure that

we did during the New Deal, it would create 23 million jobs at $32,000 per year. That would employ all of the officially unemployed as well as the "discouraged" workers in our economy.

In turn, those new wage earners would be paying into Social Security in an amount great enough to overcome the now-projected deficit that will occur in SS in 75 years.

So, new infrastructure, roads, bridges, national parks, power plants and so on; everyone who wants a job has one, and Social Security is solvent with full benefits forever (or for 75 years at least, which forever for someone 61 like me.)

Sound good? It would be.

[FogerRox]

7. Excellent job. I'm in a data geek mode

sometimes its hard to speak English.

Thanks for the assistance. DOH ! LOL

[mbperrin]

9. Your data was excellent. I teach economics to 18 year olds,

so I HAVE to keep translating!

Keep after 'em. The truth is with us, although all the danged money and political influence seems to be the other way. Dang.

[FogerRox]

11. Me: Self taught. Whats crazy is

All that is off the top of my head. I write so much @ Daily kos, & DU, that the research stays fresh.

[patrice]

8. We need a new Congress to make it happen. nt

[FogerRox]

10. Oh yeah, I hate its not even being talked about.

Let alone proposed.

22 million jobs created during the Clinton Admin, its not like its not realistic, it can be done quite easily.

[FogerRox]

6. The U6 unemployment figure is 13.8%

US workforce is about 154 million. 154 million times 13.8% is 21.5 million workers. Total workers listed in the most recent report total 26 million, employed & unemployed.