WASHINGTON (AP) — First, do no harm. Economists say the most important part of the jobs plan President Barack Obama will unveil Thursday night is the renewal of two measures already in place — a cut in Social Security taxes and emergency aid for the unemployed.
His new proposals, like spending more for transportation projects and cutting taxes for companies that hire the unemployed, probably wouldn't add many jobs, they say. Not soon, anyway.
"These are not bold, new, big programs," says Nariman Behravesh, chief economist with IHS Global Insight. "You put everything together, it's going to be pretty small."
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