Thursday, September 08, 2011

Obama's 'Jobs' Plan Increases From $300 Billion to $400 Billion Overnight

Talk about rapid inflation. Just yesterday I read where during Obama's campaign speech tonight he'd be calling for $300 billion in spending on jobs that his trillion-dollar stimulus failed to create.
President Obama is planning to propose a jobs program on Thursday that could entail at least $300 billion in tax cuts, local government aid, and spending on infrastructure such as roads and schools as he aims to restore public confidence in his ability to boost the economy.

Obama, whose approval ratings are at record lows, will present his proposals before a joint session of Congress at 7 p.m. in an address that could mark a critical moment in his presidency. His renewed focus on employment comes as the economic recovery has essentially stalled, with a discouraging government report last week showing that job creation came to a halt in August.
Now this morning, the tab is up to $400 billion.
On Thursday evening, President Obama will command the attention of the full Congress and the nation in an address on the economy. The president aims to spur Congress into action and show voters once and for all that he has a plan to stimulate growth and spur job creation.

But with 14 months before the 2012 election, a combative Congress to work with and stubbornly high unemployment, there's skepticism as to what the president can do to create jobs - or to save his own.

Mr. Obama's plan could cost more than $400 billion. The White House hasn't officially released many specifics ahead of the president's speech, but White House Press Secretary Jay Carney on Wednesday made clear the administration expects Congress to agree to at least some of his proposals, and to get results.
Expect this to be up to a cool half trillion by the time his campaign speech kicks off tonight.

Supposedly he wants money for roads, infrastructure, etc. Which makes one wonder where all that money went the past couple of years. Was it just for signage telling us about the so-called Recovery Act?

Whatever the case, as soon as he's done whining tonight he's just going to point fingers at Republicans. It's all he's got left.


straight8 said...

Let's review. FEMA is running out of money, but 400 billion bucks materialize for a new stimulus (aka the Obama re-election fund). Well OK then./

rich b said...

300 billion to 400 billion? He's been listening to PMSNBC again. Or Marxine Waters. That's where he always seems to get his "plans" and talking points. Once again the dems are proving to be the "ultimate definition of stupidty".