President Obama and Mitt Romney discussed jobs during the debate, but the president didn't use the opportunity to tout his record of job creation or proposals, writes Economic Policy Institute's (EPI's) Rebecca Thiess. For more than two and half years, private-sector jobs are growing.
Missing from the debate was a clear presentation of the fact that not only has Obama created and saved millions of jobs, but he also made a valiant effort to create millions more with the American Jobs Act (AJA). Remember that the AJA, despite the fact that it included many historically bipartisan policy proposals such as the payroll tax holiday, business hiring credits and other tax cuts, failed to get through Congress, save for watered-down versions of the payroll tax holiday and emergency unemployment compensation extensions included in the proposal.
The American Jobs Act, proposed by the Obama administration more than a year ago, is a bold plan to fund $447 billion in state aid, infrastructure investments, emergency unemployment benefits and tax cuts for households and businesses, among other provisions.
If enacted, the Economic Policy Institute estimated the AJA would have increased employment by 1.6 million jobs, above the 1.5 million jobs supported by the scaled back payroll tax holiday and emergency unemployment benefits enacted.