Mark Zandi, founder of Moody's and an '08 advisor to John McCain, does the numbers on the Obama Jobs Act

This is useful analysis, given the "non-partisan," "business elite economist" resume of Moody's Analytics' chief Mark Zandi.

Jared Bernstein has it:

Here’s (Zandi's) projected impact of GDP and jobs:

–President Obama’s jobs proposal would help stabilize confidence and keep the U.S. from sliding back into recession.

–The plan would add 2 percentage points to GDP growth next year, add 1.9 million jobs, and cut the unemployment rate by a percentage point.

Source: Zandi, Moody’s Analytics

Bernstein comments:

The Recovery Act along with monetary stimulus helped move the economy from sharp reverse to slow growth.  But the depth of the downturn, the persistent job and paycheck weakness, the still depressed housing market, and the ongoing deleveraging of household and bank balance sheets, meant that as the Recovery Act and assorted Fed actions fade, slow growth downshifted to neutral.

It is not that these measures have not worked.  It is that they stopped to soon.  The AJA keeps them going and that’s extremely important right now.