President Barack Obama has laid out a $447 billion jobs package of tax cuts and government spending yesterday that will be critical to his re-election chances but he faces an uphill fight with Republicans.
With his poll numbers at new lows amid voter frustration with 9.1 per cent unemployment, Mr Obama last night said in a high-stakes address to Congress the United States was facing a "national crisis" and called for urgent action on sweeping proposals to revive the stalled economy and avert another recession.
"Those of us here tonight can't solve all of our nation's woes," Mr Obama, speaking in a solemn tone, said in a televised prime-time speech.
"But we can help. We can make a difference. There are steps we can take right now to improve people's lives."
Taking aim at Republicans who have consistently opposed his initiatives, Mr Obama said it was time to "stop the political circus and actually do something to help the economy."
Mr Obama, who pushed through an $800 billion economic stimulus package in 2009, said his jobs plan would cut taxes for workers and businesses and put more construction workers and teachers on the job through infrastructure projects.
"It will provide a tax break for companies who hire new workers and it will cut payroll taxes in half for every working American and every small business," he said.
Mr Obama said he would propose a deficit-reduction plan on September 19th that will cover the cost of his jobs bill and include "modest adjustments" to Medicare and Medicaid and more taxes for the rich and corporations.
"A week from Monday, I'll be releasing a more ambitious deficit plan - a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run," he said yesterday to Congress in his speech on job creation.
Mr Obama said the plan would feature additional spending cuts and make "modest adjustments" to the government's Medicare and Medicaid health insurance programs for the elderly and disabled and for the poor.
"In addition to the trillion dollars of spending cuts I've already signed into law, it's a balanced plan that would reduce the deficit by making additional spending cuts; by making modest adjustments to health care programs like Medicare and Medicaid; and by reforming our tax code in a way that asks the wealthiest Americans and biggest corporations to pay their fair share," he said.
He indicated that the spending cuts would not happen quickly.
"The spending cuts wouldn't happen so abruptly that they'd be a drag on our economy, or prevent us from helping small business and middle-class families get back on their feet right away," Mr Obama said.
Same speech from 2009. That worked out real well. Obama's all ad no product. Pass the bill now, we'll figure it out later. Nope. Sorry. why should anyone with any intelligence believe this man? Nothing he has promised from day one has come about.
Then why are you all so worried about him? Obviously, because your comment isn't true. You fear what he does and don't know how to live with change. Better to derail the entire train for the fun of it. He really needs to go much further if for no other purpose than to annoy even more people of your ilk.
What universe possesses the math in which increased spending leads to savings. And, you bet I fear this guy. We've given him over a trillion and have nothing to show for it except a larger federal government. He's a liar, an incompetent and a fraud. Before you say it, I'm not a racist just because I think the man is trashing the country and I don't agree with him nor am I a son of a bitch, a barbarian or the enemy. I don't want to see blacks hanging from trees either. He has us in a lifeboat that's sinking and he's demanding we make the hole bigger in order to save ourselves. All politics aside, I'm not stupid. I've run four companies that were all successful and I can state from experience, this guys has no clue.
Oh he has a clue alright. He knows how to incite class warfare by taxing the rich and by telling old and/or disabled folks they're gonna have to take income cuts.
He does it deliberately.
And bullies Congress into being scared of mentioning ways to cut down on the size of government.
Brilliant man. Like a snake.
What change has he brought? Bigger government? Higher deficits? We could have had that from any other incompetent. Scared of Obama? I'm scared that so many voted for him without ever really knowing what kind of fool he really was.
The biggest change has been the slowing of destruction and the awakening of the truth of the failures of Cheney/Bush & Companies. I believe that, given a bit of time, he would overcome many of these and put in place true, traditional solutions. My preference would be that he try more innovative, more technologically advanced and participatory solutions that would make it likely that regressivists who always fall backwards in their thinking could never put us through the ugliness of uninformed capitalism again, but then again I'm a dreamer. He's not a fool and you have no reason other than personal bias for saying that; objective realities at all levels show that he is far less foolish than all who have preached conservative presumptions that have generated nothing good in my 53 years (it's my birthday today! thank you) other than selfish profits for too few who do too little and take too much credit for their luck.
Yahoo yesterday had a truth in debates article, in it they were comparing Rommney to Obama. Rommney said that he had lowered unemployment approximately 3% points and Obama would love to be able to say that. Yahoo countered with Rommney had actually lowered the unemployment rate by 1.5 or 2 % points. They continued by saying that Obama inherited an unemployment rate of 7.8% so Romney's measly 1.5 or 2% wasn't anything to brag about. They failed to mention that Obama currently presides over an unemployment rate of 9.3%. It has gotten worse not better, no disaster was headed off. In fact the true unemployment rate is over 10% and getting worse. We are not buying the hope and change lie anymore.
All of the people your corporations laid off ran out of their 99 weeks so now they cant buy anything. B of A is bulldozing their house. You can only get food with a Snap card. Where do you think this economy will go?
I don't have a corporation. I don't know what a snap card is. And the economy is going in the tank as long as liberals are seen to be controlling things.
You should read up more before posting here then.
Why? Because I don't know what a snap card is? Do you know what a stratafarius skyhook is?
Obama may save America, but not in the Rugby World Cup, Rugby World Cup: Ireland: Full-time: And there you have it. Ireland fails to hit the ground running in this World Cup and plod their way through an uninspiring contest. The performance certainly leaves Kidney and his management team with more questions than answers.
by bahersadek 8 years ago
Fighting back against Republican calls for greater spending cuts, President Obama said Friday that the government doesn’t need to make major changes to get its budget back on track and called for that solution to include some trims coupled with tax increases.“Here’s the good news: that it...
by AnnCee 8 years ago
Get real Mr. President. I'll hold my breath!
by American View 8 years ago
Can you believe it. In response to a question at a town hall in Decorah, Iowa, Monday evening, President Obama said that when Congress returns in September, "I'll be putting forward...a very specific plan to boost the economy, to create jobs and to control our deficit. And my attitude is get...
by Susan Reid 6 years ago
There are some stinging indictments of both Romney and Obama in this sort of backhanded endorsement from the British "The Economist."What are your favorite/least favorite (or in the Queen's English, I suppose I should say favourite) lines?http://www.economist.com/news/leaders/2 …...
by theirishobserver. 8 years ago
Good morning,Democrats and Republicans agree -- the health care status quo isn't working for the American people.Health insurance is growing more and more expensive by the day. Too many of us can't afford it -- not middle class families, not businesses, not the Federal Government. Insurance...
by lady_love158 8 years ago
http://www.realclearpolitics.com/articl … 09162.htmlObama wants oil to rise in price and he is succeding! The hope is he will create demand for green energy and consequently a green economy with green jobs! Except everywhere this has been tried it has failed miserably but it has succeeded at...
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