Posted on 09/06/2010 7:56:00 AM PDT by reaganaut1
President Obama on Monday is to call for as much as $50 billion in government spending to start up a long-term public works plan emphasizing transportation projects roads, rail and airport runways over the next six years.
Mr. Obama will lay out the plan, which is intended to promote the quick creation of construction jobs but would require Congressional approval, during a trip to Milwaukee on Monday afternoon, where he will observe Labor Day by attending a union festival. The spending is one part of a broader economic recovery package that Mr. Obama is to unveil during a speech in Cleveland on Wednesday.
With Democrats looking at a bleak election season, in large part because of high unemployment, the White House has been scrambling to find ways to jump-start the sagging economy.
While Mr. Obamas plan would call for investment over six years, the White House says it would be front-loaded with an initial investment of $50 billion in taxpayer money, to help create jobs in the shorter term. The administration says it would work with Congress to find ways to pay for the plan, so that it would not add to the nations rising deficit. One possibility would be to cut existing subsidies for oil and gas exploration and production.
White House officials said Mr. Obama wanted to rebuild 15,000 miles of roads, construct and maintain 4,000 miles of railway enough track to span the continent and rehabilitate or reconstruct 150 miles of airport runways while putting in place a system that would reduce travel time and airport delays.
The president will also call for what the White House is describing as an infrastructure bank that would focus on paying for national and regional transportation projects.
(Excerpt) Read more at nytimes.com ...
We only hire people when customers show up and sales increase. We don't see this happening so we are not hiring more people. The only stimulus that will turn the economy around is an increase in aggregate demand for private sector goods and services. Only people who sell stuff to road builders are having a good year and these businesses don't maintain large employee bases. If the Dems just sent every man, woman and child in America a check for $50,000 and told them to "live it up a bit" the recession would be history (and, so would the dollar, but that's a tale for later). This stimulus is about making Democrats VERY, VERY rich at the expense of the rest of us...
We still haven’t spent most of the $800 billion stimulus which was targeted to “shovel-ready” jobs, because the jobs weren’t ready.
Promising another $50 billion to be spent years down the road isn’t going to do anything.
I say this even though I marginally prefer that if we are going to spend money we don’t have to stimulate the economy, we might as well spend it on roads that will exist long-term and that we need, rather than on hiring teachers and public employees we don’t need or want.
Oh wait that is reserved for political payoffs and campaign funds. That's probably where this money is headed also.
This has nothing to do with stimulus or paying off unions.
It has everything to do with a proposal some demcrats will be able to oppose on “conservative fiscal principals” to help them out in November.
It’s a political false flag op.
This is racial hatred against whites. These people truly hate our guts... I’m starting to feel a bit like a Rhodesian Farmer...
“Lame Duck Pork “
They can’t stop stealing our money, ever... even to help their election chances.
“I read somewhere that the money is useless because the projects still have to go through local, state, and federal regulatory hurdles.”
Yup, and this is why if I remember correctly the Left screamed about “No Child Left Behind” being a major Bush failure, and basically useless.
Money is already being spent on infrastructure projects from the first stimulus so this second stimulus is just another scam just as the first scvamulus was.
Money is already being spent on infrastructure projects from the first stimulus so this second stimulus is just another scam just as the first scamulus was.
This is a lie. The Federal government ran out of taxpayer money $1.5 trillion ago. This $50 billion will simply be another expansion of the money supply which will further erode the value of this once great nation.
Furthermore, the entire 'plan' is quite disingenuous considering how heavily the original so-called 'stimulus' bill was marketed as an infrastructure bill. For $800 billion (which is more than the entire cost of the Iraq War under Bush), we should have had all our infrastructure built by now.
I see you recognize that customers have tapped out their credit cards and home ATM machines. After some dozen years of shipping jobs to other countries for cheap labor, the money well is dry. Recovery awaits our making more of what we import.
Japan’s been doing this for 20 years. It still hasn’t worked.
Just like FDR’s WPA which didn’t work.
Yup.
Change is coming, prepare now.
There. I fixed it.
I see Rasmussen -30 on the horizon.
I agree. Still it’s a stupid move. Voters will associate the $50 billion spending with Obama and the democrat party no matter how many of them “oppose”.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.