Posted on 09/07/2011 8:11:35 AM PDT by yoe
(Reuters) - President Barack Obama, facing waning confidence among Americans in his economic stewardship, plans some $300 billion in tax cuts and government spending as part of a job-creating package, U.S. media reported on Tuesday.
The price tag of the proposed package, to be announced by Obama in a nationally televised speech to Congress on Thursday, would be offset by other cuts that the president would outline, CNN reported, citing Democratic sources.
Bloomberg News said the plan would inject more than $300 billion into the economy next year through tax cuts, spending on infrastructure, and aid to state and local governments.
Obama would offset those short-term costs by calling on Congress to raise tax revenues in a deficit-cutting proposal he will lay out next week, the news agency reported, without citing sources.
The White House declined to comment on the reports.
Obama's aides have refused to go public with the estimated cost of Obama's package or provide many specifics in advance, except to say that the proposals will have a "quick and positive" impact on boosting jobs at a time of stubbornly high U.S. unemployment.
"We need to do things that will have a direct impact in the short-term to grow the economy and create jobs, and the president will put forward proposals that will do just that," White House spokesman Jay Carney said.
Republicans criticized Obama for not including them in discussions on the package before his big speech and indicated any jobs bills could face tough passage through Congress, where they control the House of Representatives.
(Excerpt) Read more at reuters.com ...
Obama’s cargo cult wants to build an airstrip in the jungle in hopes that airplanes will bring us stuff.
If you believe this one come see me about a bridge over the East River that I have for sale . (Cheap)
Why stop at $300 billion?
Why not $600 billion?
Why not $900 billion?
Why not $3 trillion?
Why this arbitrary limit when funds are basically unlimited for this regime?
If the $600Billion stimulous failed why would O’Blahblah think $300 Billion will do anything? Answer: He doesn’t but it will hasten the collapse of our economy. He only has 15 more months to finish us off.
ALL SUCH SPENDING REQUESTS MUST BE 1:1 FY2012 SPENDING NEUTRAL.
IF HE WANTS 300B FOR THESE ITEMS, THERE MUST BE FY2012 SPENDING CUTS IN OTHER ITEMS, MAYBE TRANSFER PAYMENTS TO STATES, AND TO LOOK REASONABLE, REDUCTIONS TO CIVILIAN WORKFORCE AT DOD BASES IN BLUE STATES.
WE’LL SEE IF HE **REALLY** WANTS THESE ITEMS.
I’m not sure how he thinks this is a good idea politically even. He’s got to know it won’t pass. It’ll only please his base, but they are wanting him to propose 3 trillion stimulus spending.
The $300 billion “investment” will be offset by a 5% reduction in the Obamas’ entertainment and vacation budgets for the next six months.
Democrats couldn’t run a snocone stand in hell without money from the government.
Average stimulus job cost 250K to create, 4 jobs per million, so 400 jobs per billion, 300 billion would buy 120,000 jobs for a year. Which would lower unemployment almost .2%, what a deal.
just attach an amendment requiring a full outside audit of what happened to the money from the first Stimulus before a dime more gets spent, and this will die a quiet, whimpering death.
And it worked so well last time.
This empty suit knows only three things: summits with Czars; spending $$$ we don’t have; and making empty speeches.
But his worshipers love his empty speeches and they love the tax-funded money he rains down on them.
Marxists just can’t change their tune.
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