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Obama in US$447b jobs plea
Source: Agencies |
September 10, 2011, Saturday
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PRESIDENT Barack Obama, looking to jolt both the United States economy and his presidency, proposed a US$447 billion plan for creating jobs in a high-profile, nationally televised speech before Congress.
Obama, facing a tough re-election fight next year, looked to stem the eroding confidence in his leadership as the mood of Americans darkens and emboldened Republican presidential challengers assail his record.
The newest and boldest element of Obama's plan announced on Thursday would slash the payroll tax for the Social Security pension program both for tens of millions of workers and for employers, too. It also includes US$105 billion in public works projects and the renewal of US$50 billion in unemployment benefits for about 6 million Americans at risk of losing jobless insurance.
'The right thing'
Obama did not venture an estimate as to how many jobs his plan would create. He promised repeatedly that his plan would be paid for, but never said how, pledging to release those details soon.
"This plan is the right thing to do right now," Obama said after a divided body rose in warm unison to greet him. "You should pass it. And I intend to take that message to every corner of this country."
His message was unmistakable, as he told Congress more than 15 times in one way or another to act quickly. That was meant as a direct challenge by a Democratic president to the Republicans running the House of Representatives to get behind his plan, especially on tax cuts, or be tarred as standing in the way.
Yesterday, Vice President Joe Biden said the Obama administration was willing to compromise with Republicans on a job creation program if they come up with "a better idea." At the same time, Biden says the administration was "not prepared to compromise in terms of doing nothing."
House Republican leader Eric Cantor, meanwhile, said he believed the Republicans can work with the Democrats to act fairly soon as long as the president doesn't insist on an "all-or-nothing" approach.
Obama will likely have a hard time getting much of his plan through Congress. Republicans control the House of Representatives and can use procedural tactics to block bills in the Senate.
Beyond their ideological opposition to Obama's plans, Republicans would seem hesitant to hand Obama a major victory that could boost his re-election prospects.
In announcing a plan heavy on the tax cuts that Republicans traditionally love, Obama sought to offer a bill that could actually get through a deeply divided Congress, speed hiring in a nation where 14 million are out of work, shore up public confidence in his leadership and put Republicans on the spot to take action.
Obama remains personally popular and a formidable campaigner. But his approval ratings keep tumbling and no incumbent president in recent history has won re-election with unemployment anywhere near the current 9.1 percent.
Obama, facing a tough re-election fight next year, looked to stem the eroding confidence in his leadership as the mood of Americans darkens and emboldened Republican presidential challengers assail his record.
The newest and boldest element of Obama's plan announced on Thursday would slash the payroll tax for the Social Security pension program both for tens of millions of workers and for employers, too. It also includes US$105 billion in public works projects and the renewal of US$50 billion in unemployment benefits for about 6 million Americans at risk of losing jobless insurance.
'The right thing'
Obama did not venture an estimate as to how many jobs his plan would create. He promised repeatedly that his plan would be paid for, but never said how, pledging to release those details soon.
"This plan is the right thing to do right now," Obama said after a divided body rose in warm unison to greet him. "You should pass it. And I intend to take that message to every corner of this country."
His message was unmistakable, as he told Congress more than 15 times in one way or another to act quickly. That was meant as a direct challenge by a Democratic president to the Republicans running the House of Representatives to get behind his plan, especially on tax cuts, or be tarred as standing in the way.
Yesterday, Vice President Joe Biden said the Obama administration was willing to compromise with Republicans on a job creation program if they come up with "a better idea." At the same time, Biden says the administration was "not prepared to compromise in terms of doing nothing."
House Republican leader Eric Cantor, meanwhile, said he believed the Republicans can work with the Democrats to act fairly soon as long as the president doesn't insist on an "all-or-nothing" approach.
Obama will likely have a hard time getting much of his plan through Congress. Republicans control the House of Representatives and can use procedural tactics to block bills in the Senate.
Beyond their ideological opposition to Obama's plans, Republicans would seem hesitant to hand Obama a major victory that could boost his re-election prospects.
In announcing a plan heavy on the tax cuts that Republicans traditionally love, Obama sought to offer a bill that could actually get through a deeply divided Congress, speed hiring in a nation where 14 million are out of work, shore up public confidence in his leadership and put Republicans on the spot to take action.
Obama remains personally popular and a formidable campaigner. But his approval ratings keep tumbling and no incumbent president in recent history has won re-election with unemployment anywhere near the current 9.1 percent.
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