On Thursday, September 8, President Obama announced in a joint session of Congress a new job-creation plan as another solution to the ongoing economic crisis that is happening in our country. The plan calls for $447 billion in tax cuts and government spending to create more jobs. The House was filled with silent GOP members as they listened to Obama preach the need to forget about politics and get this job-creation plan passed. Since when did Washington forget about politics?
As Obama went on about certain actions that need to be taken such as tax cuts for employers and employees, aid to keep teachers from being laid off, spending to fix roads and ways of transportation, the room remained quiet as the conservative majority listened.
“The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working,” said Obama. Now most Americans would find this proposal to be refreshing in a time of turmoil, but for the conservative public, this is nothing more than another spending plan that may or may not work. By acknowledging the conservative voter’s belief in lower taxes and less government spending, Obama seems to sound more like candidate Obama rather than President Obama.
With the U.S. debt reaching into the trillions, the unemployment percentage at 9.1%, and the fear of a double-dip recession, the country is in need of some serious help. But is Obama’s new plan ready to take on the challenge, or will it like all of his other stimulus plans and acts, fail to put a dent in the national economic crisis? Here is the breakdown of Obama’s plan according to The Washington Post: 55% of the funding will be used towards tax cuts, 31% will be used towards local aid and infrastructure and 14% will be used to fund the unemployment program.
To any self proclaimed Republican, the phrase “tax cuts” is a welcome sound, but is this just another ploy for Obama to gain more voters? With Republican candidates smashing Obama’s record, and with disapproval from the American public, this seems to be a last hoorah from Obama to gain support. I find it hard to believe that Obama would be willing to make $245 billion dollars in tax cuts, but at the same time, this act also calls for government spending as well. I think we have seen enough of such policies.
Many economists believe that his new act would do very little to improve our economic standing, and I believe it. Obama is planning to provide a proposal on Sept. 19th that will layout how he will fund this new plan. Many wonder how the turnout in Congress will effect the economy. We won’t know for sure until the bill is introduced to the House. With the way Congress has been compromising lately, it is sure to be a long process. All this sure makes me wish Reagan was still in office.
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