Friday, September 9, 2011

Peter Schiff vs Rapoport on Obama speech & jobs Plan

Peter Schiff  : It is more pf the same it is just another stimulus plan dressed up as a jobs plan but it is not going to create jobs it is going to run up the deficit by 450 Billion by the next year it means that we are going to have another increase in the debt ceiling before the next election which is something I was forecasting the last time they raised it , no iyt is not going to turn the economy around it is not going to create any long term employment , it might help on the margin for the next six months create more minimum wage jobs because it effectively reduces the minimum wage to about $3.40 an hour for employers if you hire somebody for just 6 months


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