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 ...
The country is broke. We are trillions in debt. There is no money to spend. You can't borrow your way to financial prosperity. Stop it. Now.
“Obama Economic Team: Stuck on Stupid”
I’m so sick of him!!!!
Public works? What about nongovernmental workers? They're the engine that runs this country, or, at least, they were the engine (which is why this country is going nowhere).
Why? No one will be using them. No one is to going to work anymore.
I thought we just spent 750 billion? Where the heck did that money go?
What a fiscal idiot.
So...nobama (the Destroyer) has already fiscally screwed us, our children and our grandchildren. Now he wants to got after our great grandchildren. PUTZ!
I wouldn’t exactly call him a putz. My opinion is probably a little behind the times...
I am so pissed to hear this bozo touting another $50B so-called stimulus. What a frickin JOKE! Where the hell did nearly $800B stimulus from just one and a half year ago go? How in the H-E-double L is another $50B going to make any frickin difference? Are people truly this stupid, dumb to think that now all of a sudden the economy is going to turn around because el-bozo presidente announces another $50B stimulus? WAKE UP AMERICA!!!
we have a 200 million freeway upgrade through our town . It employs about 25 workers a day.....don’t belive me ?/ drive by and count em
Zero?
the "stimulus" went to pay off foreign "investors" who gambled on hedge funds and "lost", the money went to fund the run on the banks to cash in (8/2008)
Over 100 million americans lost when their home values crashed after the run on the banks, many lost cash not covered by FDIC, still more lost on 401K's, .....but the Soros' of the world get a "bailout" from the Obamunistas
taxpayers just get more debt piled on to fund it
Where did he come up with the 50 billion? Why not 50 trillion? Public agencies can find a way to spend any amount of money printed for them.
This is like a money laundering scheme. Take the money from taxpayers (or print it or borrow it), give it to public agencies, and those agency employees’ unions then give it back to Obama and Democrats in the form of campaign spending/donations.
So, let me get this straight...he is going to kill all of the incentives to drill for oil and gas in this country, and then he is going to slap a carbon tax on us, effectively killing the oil and gas industry. Hope you folks dont mind paying $10 a gallon to our saudi allies.
You forgot the punchline to this joke: All of this money is to be spent on transportation infrastructure. First make it prohibitively expensive to travel in any way shape or form, then build runways for planes no one can afford to fly, railways to transport goods no one can buy, roadways for cars no one can afford to operate.
Its a beautiful thing once you can imagine it.
Even if it were passed today, the only money that would be spent in the next 18 months is lawyers fees and consultants fees.
The astonishing stupidity of this administration is beyond comprehension.
Payout to his union buddies.
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