See? He really *does* have a plan!

Apparently President Obama has had his head on straight the entire time regarding management of the oil spill.  The Wall Street Journal reports that the nation's GDP could actually grow a smidge thanks to the fact that the spill has gotten to the point where the damage control and cleanup will generate more economic activity than the number of jobs destroyed.

The six-month moratorium on deep-water drilling may cut U.S. oil production by around 3% in 2011 and cost more than 3,000 jobs, according to J.P. Morgan’s energy analysts.

Commercial fishing in the Gulf is also likely to suffer, but that’s only about 0.005% of U.S. GDP. The impact on tourism is the hardest to measure, although it’s fair to expect that many hotel workers who lose their jobs will find it hard to get new ones.

Still, cleaning up the spill will likely be enough to slightly offset the negative impact of all this on GDP, J.P. Morgan said. The bank cites estimates of 4,000 unemployed people hired for the cleanup efforts, which some reports have said could be worth between $3 and $6 billion.

Up next in Obama's plan to end the recesssion:

• Burn down the national parks to create more firefighting jobs
• Increase the actual dollars that gas stations receive for every gallon of gas, because everyone knows that it's all about the income and not the profit margin
• Teach our children to be Obama scholars, because knowing how to organize a community generates more revenue than doing something that actually, ya know, produces something
• And a bonus from beyond-RINO Joseph Cao (see, Obama's so wise he's got bipartisan support!): encourage the suicide of company executives to make room for the unemployed in the payroll
  

What else can Obama do to end the recession?  I'm sure you morons have recognized some of his other efforts, please share them with us!

Posted by: Alice H at 10:15 AM | Comments (8) | Add Comment
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