President Obama’s jobs plan would put some 1.9 million people back to work and grow the economy 2%, says Moody’s chief economist. The plan could slice the unemployment rate by a percentage point, adds Mark Zandi, whose analysis comes as the president heads to Virginia to push his proposal. Obama is set to speak at the University of Richmond’s 9,000-seat arena this morning, UPI reports.
Meanwhile, Eric Cantor will hold a separate jobs event in Richmond. The House majority leader said he didn’t like the tone of Obama’s speech but approved of some of the president’s ideas, such as “business tax relief, reducing red tape, working to try and streamline the infrastructure spending in this country.” John Boehner, for his part, said Obama’s proposed measures “merit consideration.” Click for more reactions.