Obama Officials Identify Source of Funds for "Jobs Bill"

Posted by Jim Spence on Monday, September 12, 2011
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Daily Caller - The Obama administration is asking Congress to raise taxes by $467 billion over 10 years to pay for the President’s one-year $447 billion stimulus, which he announced during a speech Thursday before a joint session of Congress. The president is pushing his jobs and growth package amid declining polls and zero job growth in August. The plan is intended to take effect several months after the 2012 election. During a Rose Garden press event Monday, Obama pitched his plan by playing up job losses and the stalled economy, ditching his previous claims that economic growth had returned. “If Congress does not act, just about every family will pay more taxes next year. That would be a self-inflicted wound that our economy can’t afford right now, Obama said. The changed campaign-trail rhetoric is part of Obama’s efforts to blame Congress, and the GOP specifically, for hindering economic growth. “If you want Congress to take action, I’m going to need everybody here … to make sure their voices are heard” by legislators. Obama did not mention the $447 billion price tag for the one-year stimulus he outlined in his Rose Garden appearance. Read full story here: News New Mexico
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2 comments:

Paul Lindsey said...

Powerline gets it right:
http://www.powerlineblog.com/archives/2011/09/obamas-stimulus-ii-whats-the-point.php

"Not so with Stimulus II. If Obama proposes to increase taxes on those earning more than $200,000 a year to pay for his spending and tax cut program in its entirety, there is no net injection of demand into the economy. Rather, Obama is simply sucking money out of the private sector so that it can be reallocated by the public sector (i.e., his administration). The essential effect of Obama’s proposal, with its tax increases, is to transfer wealth from upper-income taxpayers to construction workers, teachers and other public employees–that is, from people who earn $200,000+ to people who earn $60,000+ (or more, if their families have two incomes). Is that really what liberalism has come to? Or is it silly to talk about Obama’s proposal as anything other than a part of his re-election strategy?"

September 12, 2011 at 3:12 PM
Anonymous said...

First, the GOP will slam Obama's nose in the door when this bill is proposed. Next, Obama will attempt to blame the GOP and the TEA Party for his miserable failure and brain dead economic policies. This strategy will secure his legacy as a one term president who's economic failures will rival Jimmy Carter's economic disaster. Decades from now historians will argue which failed worse; Obama or Carter?

September 12, 2011 at 7:19 PM

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