Monday, August 8, 2011

Obama Insist in Spending Tax Dollars to Create Jobs

Obama claims he has a plan, but his plan doesn't make sense. The president claims that economic grow is not about cut spending, deregulation, or keeping Americans safe. He claims to get out of this recession is making a piggy bank for infrastructures, extended payroll tax, and extend unemployment benefits. We had heard from former House Speaker Pelosi say unemployment benefits stimulate the economy. At best, it was an idiotic statement. Alternatively, I shudder to understand what Obama was thinking. Obama loves to talk and give empty promises. In fact, Americans are still waiting for jobs that the president promised for the past 3years. The stimulus package cost a net lost of jobs. Obamacare has caused lost of jobs. The bailouts to the private sector cost a lost of jobs and a huge hit to the tax payers. I don't think Obama gets it yet.

(Fox News) With the debt-ceiling debate in Washington's rear view, President Obama emerged from the partisan rubble vowing -- as he has many times since taking office -- to devote his energy to jobs.

Americans "want us to get this economy growing and adding jobs," the president said.

The call echoed his 2010 State of the Union pledge to make jobs his "No. 1 focus." But since then, the economy hasn't exactly popped back into gear.

Since January 2010, the unemployment rate has averaged about 9.4 percent. On average, the economy is creating about 94,000 jobs per month -- well below the at least 125,000 needed to keep pace with population growth. Not only is the jobless rate on the upswing, but those out of work are staying out of work longer. The jobless typically are out of work for nearly 40 weeks, which is 30 percent longer than in January 2010.

"Quit borrowing. Quit spending. Quit trying to raise taxes. Quit over-regulating and let the private sector flourish," Senate Republican Leader Mitch McConnell said Tuesday, as party leaders on each side offered two starkly different visions for the recovery.

Republicans claim to want to take away the anxiety by reining in government, tackling spending, lowering tax rates, stripping regulations and whittling away at the federal health care overhaul to whatever extent they can -- plus, on the energy front, they repeated their cry for more domestic oil production.

Democrats are offering their own prescription.While Obama wants to extend his temporary payroll tax cut for the middle class, he and his party's leaders reject many of the other Republican tenets on economic growth.

"If their theory was right, the huge taxes that took place during the Bush eight years -- the economy should be thriving," Senate Majority Leader Harry Reid said. "These tax cuts have not helped the economy."

While vowing to deal with the deficit, Obama said economic growth "isn't just about cutting spending. It's not about rolling back regulations that protect our air and our water and keep our people safe. That's not how we're going to get past this recession."

The president urged Congress to act on several sidelined proposals, ranging from patent reform to new trade deals to what he describes as an "infrastructure bank" aimed at helping private companies repair U.S. roads and bridges and airports -- an idea Holzer called a "winner."

"We have workers who need jobs and a country that needs rebuilding. An infrastructure bank would help us put them together," Obama said. He also urged Congress to extend unemployment benefits.