WASHINGTON (AP) -- President Barack Obama called for a major new burst of federal spending Tuesday, perhaps $150 billion or more, aiming to jolt the wobbly economy into a stronger recovery and reduce painfully persistent double-digit unemployment. ---- the SOS - more taxes stolen and given to friends
until both dems and repubs are removed from our government the corruption will continue vote 3rd party! On Dec 8, 5:18 pm, dick thompson <[email protected]> wrote: > How soon can we get rid of this crew!! > > Dec 8, 5:45 PM EST > > Obama offers plans to help US 'spend our way out' of recession, promote > creation of new jobs > > By TOM RAUM > Associated Press Writer > > AP Photo > <http://hosted.ap.org/dynamic/files/photos/0/02878f62-702c-4c5a-9f80-a...> > AP Photo/Susan Walsh > > Watch Related Video > <http://video.ap.org/?t=By%20Section/U.S.&p=&f=OHMOU&g=1208dv_pol_obam...> > > Obama Proposes New Spending Package to Boost Economy > <http://video.ap.org/?t=By%20Section/U.S.&p=&f=OHMOU&g=1208dv_pol_obam...> > > Watch Related Video > <http://video.ap.org/?t=By%20Section/U.S.&p=&f=OHMOU&g=1208dv_wh_economy> > > Obama Looks to Stoke Job Growth > <http://video.ap.org/?t=By%20Section/U.S.&p=&f=OHMOU&g=1208dv_wh_economy> > > Buy AP Photo Reprints > <http://pictopia.com/perl/gal?provider_id=38> > > Interactives > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > New Orleans Obama will see four years after Hurricane Katrina > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Obama, Cabinet travels lead mostly to blue states > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Presidential postcards: Chief executives on vacation > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > The 2009 U.S.-Russia summit > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Barack Obama: The AP interview > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Foodie in Chief: Mapping Obama's Eats > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > First ladies of fashion: Michelle Obama and Carla Bruni-Sarkozy > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Obama's family and WWII > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/specials/interactives/wdc/obama100/index.html> > First 100 days: Revisiting the issues that shaped Obama's campaign > <http://hosted.ap.org/specials/interactives/wdc/obama100/index.html> > <http://hosted.ap.org/specials/interactives/wdc/obama100/index.html> > First 100 days: Day-by-day interactive calendar > <http://hosted.ap.org/specials/interactives/wdc/obama100/index.html> > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > First 100 days: Michelle Obama's style > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Obama's West Wing > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > Latest News > Obama offers plans to help US 'spend our way out' of recession, promote > creation of new jobs > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > FACT CHECK: Sleight of hand? Obama promotes deficit reduction and > increased spending > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS_FACT_CHECK?SITE=...> > > Obama proposes tax break for small businesses to add workers, gives few > details > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_TAXES?SITE=OHMOU&SECT...> > > Key parts of President Obama's job creation package > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS_GLANCE?SITE=OHMO...> > > Tenn. mayor sorry for Facebook claim that Obama timed speech to block > 'Peanuts' special > <http://hosted.ap.org/dynamic/stories/U/US_MAYOR_OBAMA_CLAIM?SITE=OHMO...> > > Interactives > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Quiz for Older Job Seekers > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > Who Has Lost the Jobs? A State by State Look > <http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS?SITE=OHMOU&SECTI...> > > The Climate Pool > <http://www.facebook.com/TheClimatePool/> > > Your Questions Answered > <http://hosted.ap.org/dynamic/stories/A/ASK_AP?SITE=OHMOU&SECTION=HOME> > > AP answers your questions on the news, from thorium fission to > malpractice and health costs > <http://hosted.ap.org/dynamic/stories/A/ASK_AP?SITE=OHMOU&SECTION=HOME...> > > WASHINGTON (AP) -- President Barack Obama called for a major new burst > of federal spending Tuesday, perhaps $150 billion or more, aiming to > jolt the wobbly economy into a stronger recovery and reduce painfully > persistent double-digit unemployment. > > Despite Republican criticism concerning record federal deficits, Obama > said the U.S. has had to "spend our way out of this recession" with so > many people out of work but insisted he was still mindful of a need to > confront soaring deficits. More than 7 million Americans have lost their > jobs since the recession began two years ago, and the jobless rate > stands at 10 percent, statistics Obama called "staggering." > > Congressional approval would be required for the new spending. > > "We avoided the depression many feared," Obama said in a speech at the > Brookings Institution, a Washington think tank. But, he added, "Our work > is far from done." > > It was the third time in a week the president had presided over a > high-profile event on jobs, responding to rising pleas in Congress that > he spend more time discussing unemployment as midterm election season > draws near. > > Obama proposed new spending for highway and bridge construction, for > small business tax cuts and for retrofitting millions of homes to make > them more energy-efficient. He said he wanted to extend economic > stimulus programs to keep unemployment insurance from expiring for > millions of out-of-work Americans and to help laid-off workers keep > their health insurance. He proposed an additional $250 apiece in > stimulus spending for seniors and veterans and aid to state and local > governments to discourage them from laying off teachers, police officers > and firefighters. > > He did not give a price tag for the new package but said he would work > with Congress on deciding how to pay for it. > > On Capitol Hill, estimates of a potential jobs bill range from $75 to > $150 billion, said Rep. Steny Hoyer of Maryland, the No. 2 Democrat in > the House. > > "100 billion, 150 billion, 75 billion - those are all figures that are > being talked about," Hoyer told reporters. > > Those billions would be on top of money for separate legislation for > safety-net initiatives such as extending unemployment benefits for the > long-term jobless and providing them health insurance subsidies. > > Some lawmakers put the total cost of the new proposals at $200 billion > or more. > > White House economic adviser Jared Bernstein said the White House is > considering spending $50 billion on infrastructure projects alone such > as roads and bridges and water projects. Other figures, he said in an > interview with The Associated Press, would be worked out with Congress. > > Republicans ridiculed the president's speech and his parallel call for > doing more to hold down government deficits. > > "At least the president's proposal will result in one new job - he'll > need to hire a magician to make this new deficit spending appear > fiscally responsible," said Sen. Judd Gregg of New Hampshire, the senior > Republican on the Senate Budget Committee. House GOP leader John Boehner > of Ohio declared the president "out of ideas and out of touch." > > While Obama did not propose the kind of direct federal public works jobs > that were created in the 1930s, he said government action could set the > stage for more job creation by private business. Many of his proposals > would extend or expand programs included in the mammoth $787 billion > stimulus package passed last winter. > > While acknowledging increasing concerns in Congress and among the public > over the nation's growing debt, Obama said critics present a "false > choice" between paying down deficits and investing in job creation and > economic growth. > > "Even as we have had to spend our way out of this recession in the near > term, we have begun to make the hard choices necessary to get our > country on a more stable fiscal footing in the long run," he said. > > To find money to pay for the new programs, the administration is > pointing to the Treasury Department's report on Monday that it expects > to get back $200 billion in taxpayer-approved bank bailout funds faster > than expected. > > Obama suggested this windfall would help the government spend money on > job creation at the same time it eats into the nation's debt, which now > totals $12 trillion. > > He called the bank bailout, under the 2008 Troubled Asset Relief Program > (TARP), "galling." > > "There has rarely been a less loved - or more necessary - emergency > program," Obama said. > > The program is due to go out of business at the end of this year, > although Congress is expected to extend it to next October. > > The perception that the program mainly bailed out Wall Street bankers > while doing little to help ordinary Americans has fed anti-Washington > sentiment across the nation. > > In clear acknowledgment of this sentiment, Obama said the unexpected > $200 billion in repaid loans and other savings "gives us a chance to pay > down the deficit faster than we thought possible and to shift funds that > would have gone to help the banks on Wall Street to help create jobs on > Main Street." > > But Republicans cried foul, claiming that the leftover and repaid TARP > money must be used exclusively for deficit reduction or additional bank > bailouts, as the law setting it up spells out, and not for what amounts > to an expensive new stimulus program to create jobs. > > "The stimulus money clearly was a spending bill. TARP was a loan - a > loan to be paid back. And we know that a number of the banks are, in > fact, paying it back," said Senate Minority Leader Mitch McConnell, > R-Ky. "So I don't think raiding a loan program to launch another > spending spree is the best way to create jobs." > > David Walker, president of the Peter G. Peterson Foundation, a group > that promotes fiscal responsibility, said that just because the > government hasn't had to spend all the TARP money on banks "doesn't mean > we should automatically spend it on something else." > > Walker, former head of Congress' Government Accountability Office, said > in an interview that clearly defined objectives or conditions were > missing from both the $700 billion bank bailout law passed in October > 2008 and this year's $787 billion stimulus package. He said, "You can't > change history, but you need to learn from past mistakes to make sure > that you don't repeat them." > > Liberal groups praised Obama's new initiatives. "We think that Obama > made a step in the right direction," said Karen Dolan of the Institute > for Policy Studies. "He's finally tapping into that moral outrage of the > American people at the Wall Street bailouts." > > A major part of his package includes new incentives for small > businesses, which account for two-thirds of the nation's work force. He > proposed a new tax cut for small businesses that hire in 2010 and an > elimination for one year of the capital gains tax on profits from > small-business investments. > > Obama also proposed an elimination of fees on loans to small businesses, > coupled with federal guarantees of those loans through the end of next > year. His proposal for new tax breaks for energy-efficient retrofits in > homes is modeled on the now-expired Cash for Clunkers rebates for > trading in used vehicles for more fuel-efficient vehicles. Some > administration officials have dubbed the proposed new program "Cash for > Caulkers." > > Although the unemployment rate inched down to 10 percent in November > from 10.2 percent in October, more of America's largest companies will > shrink their staffs than will hire in the next six months, according to > a new survey by the Business Roundtable. > > A Labor Department report on Tuesday showed there were about 6.3 > unemployed people, on average, for each job opening in October. > Comparable November figures were not yet available. > > --- > > Associated Press writers Julie Pace, Andrew Taylor and Philip Elliott > contributed to this story. > > � 2009 The Associated Press. All rights reserved. This material may not > be published, broadcast, rewritten or redistributed. 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