September 6th, 2010
02:09 PM ET
8 years ago

On Capitol Hill, Obama's new economic measures confront reality

 President Obama has proposed additional infrastructure spending.

President Obama has proposed additional infrastructure spending.

Washington (CNN) - Top Democratic and Republican leadership aides on Capitol Hill say President Barack Obama's two new economic proposals have virtually no chance of passing Congress before the midterm elections, even before he has formally announced them.

Obama is expected to unveil a plan Monday in Milwaukee, Wisconsin, to push at least $50 billion into infrastructure spending. In Cleveland, Ohio, on Wednesday, he will tout the increase and extension of a business tax credit for research and development. The White House says both proposals will be paid for, in part, by closing tax loopholes for oil and gas companies.

Doubtful that either will pass in the near future, Democrats and Republicans are blaming each other.

"After failing to deliver on their economic promises for more than 18 months, the administration wants to do it again - this time with higher taxes to pay for even more new spending," Senate Minority Leader Mitch McConnell, R-Kentucky, said in a written statement Monday.

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Filed under: 2010 • Economy • issues • President Obama
soundoff (44 Responses)
  1. intune

    Wow, this is news! Obama and his band of clown wants to raise taxes on corporations again and use it to increase government spending (primarily to benefit labor unions). I guess $800 billion of this wasn't enough. Being the statist that he is, he will forever want to increase taxes and grow the government.

    September 6, 2010 03:26 pm at 3:26 pm |
  2. T'SAH from Virginia

    The REALITY is – it takes time!! The PROBLEM is, some Americans have STM (Short Term Memory) Syndrome!!!

    September 6, 2010 03:29 pm at 3:29 pm |
  3. Smart Human

    It doesn't matter WHAT Obama does. The rethuglicans will respond with "NO" or otherwise block any chance of improving our country.

    Obama could have every single rethuglican a million dollars each and they would still complain and reject the notion (but simultaneously) take the money.)

    Rethugs have destroyed our great country by acting like spoiled 8 yr olds.

    September 6, 2010 03:30 pm at 3:30 pm |
  4. JD in KC

    O'Bama has a real mess on his hands but throwing more borrowed, ficticious money at the problem is not going to solve the problem. Instead of following his economic teams' advice, he needs to seek impartial input as to the true consequences and impact of the policies he is touting. Proposing solutions that have no chance of being implemented so he can wag his finger at the Republicans just looks like another political move. What has happened to the TARP money and how much has been spent so far and on what? I'm afraid he is in over his head. The emperor has no clothes. Time for one of his advisors to speak up and tell it like it is. The same advice I would give to the Republicans, start being construictive. The country is tired of the politics which are ruining this country. We are becoming another Roman empire and the exiration date is getting closer.

    September 6, 2010 03:31 pm at 3:31 pm |
  5. Cretaceous1

    Obama's voice sounds like that of the late great actor Lee Marvin. That is why people loved to hear quotes from movies like the Man Who Shot Liberty Valence! His voice is what people like about Obama! The buck stops there, however! Nothing of substance gets past his mouth!

    September 6, 2010 03:33 pm at 3:33 pm |
  6. diridi

    I do not care what confronts....I will vote for Democrat...period....GOP thugs want to privatize social you vote????? what happened what caused this problem,....Iraq war...and Fannie and Freddy and....'GOP, and Republican Thugs....including Tea party republican thugs...we need Made In USA....R & D Back....Energy and Climate rules, and stringent Immigration....right...

    September 6, 2010 03:33 pm at 3:33 pm |
  7. David in Dallas

    Too little too late. I am a former loyal Democrat, but after the opportunities squandered by this President and the Democratic congress, I am now an Independent. He should have poured money into rebuilding infrastructure and putting people back to work as his very first priority. Instead, all of the stimulus money went into bailing out Wall Street and his Ivy League buddies. If the Republican Party would stop their persecution of Gays and Lesbians they would have smooth sailing to take over the Congress and the Presidency in 2012.

    September 6, 2010 03:33 pm at 3:33 pm |

    Mr. president, this is not a game of monopoly,this is the future of our
    country,not your views from dreams that feed your sick ego. This is
    real time stuff and you have a very short time to get it right. Basic
    11 th grade psych deem you as a looser. I challeange you to be
    a President for these United States and not for private interests.
    We need many things for infrasture and more. We need more than anything else is jobs for the little folks. Small business is the back bone of our country. The unions are a thorn in our sides,but big
    bucks for you,and your handlers. Mr, president,stand up for America
    not those at home and abroad that would see us fail. Please do not
    be the first traitor in our history serving as president. I see you on tv
    as i speak and you speak to Union groups as though you had a clue. "YOU",speak of your grandfather with some reverance in all of
    "us" and do not have a clue as to his true beliefs. "you" Mr. pres.
    have a misconception of what a free nation is and can do for the
    our own country and the free and not so free world. Please potus
    be a real American and work for "your country,that gave you the
    opportunity to do better. "you have a short time to get it right, Use the
    time you have wisely. ---nam vet

    September 6, 2010 03:34 pm at 3:34 pm |
  9. joe

    at least the guy tries to address problems. can't blame him for that. why not spend the money on our own country and people. have you seen the bill for the 2 wars? common people get a grip. america first!

    September 6, 2010 03:35 pm at 3:35 pm |
  10. all of America

    Why doesn't obama and these arrogant , corrupt democrats just admit that they don't have a clue how to lead this country out of this recession. The people need to impeach obama and repeal obamacare, and the financial reform bill, and get the republicans back to get this country out of this recession, We give the democrats a chance and they have done nothing but destroy the U.S. and make the situation worse ! It will take a long time to correct everything that the dems have screwed up.

    September 6, 2010 03:36 pm at 3:36 pm |
  11. Al

    "After failing to deliver on their economic promises for more than 18 months..." said Senate Minority Leader Mitch McConnell. How about 'After failing to deliver on economic promises for 8 years.' for Bush and McConnell before this?

    September 6, 2010 03:38 pm at 3:38 pm |
  12. Smart Human

    @David in Dallas,

    You are HARDLY a former Democrat. You're in Dallas. We're onto your lies.

    September 6, 2010 03:38 pm at 3:38 pm |
  13. Proud member of "Global Zero"

    We need rail here in Florida.

    The Bush Tax cuts did NOT expire yet. They are NOT creating jobs.

    September 6, 2010 03:39 pm at 3:39 pm |
  14. D. Bunker

    The only "economic reality" Obama needs to confront is the reality of the GOBP and its corporate masters doing everything they can to prevent the Dems from achieving any success. Obama needs to continue to point out what rational Americans already know deep inside: the teatards and their corporate sponsors can't allow the public to see how Dem policies actually succeed where the policies of the Friedman/Rand cultists on the right consistently fail.

    When the GOBP, etc. attack the economy, they are really attacking themselves for their past failures. The also refuse to acknowledge that despite their constant obstructionism, the economy IS growing, IS creating more jobs and IS less reliant than ever on illegal immigrants. While the lies and propaganda from the right will continue, the truth will send them scurrying away like cockroaches flee light.

    September 6, 2010 03:39 pm at 3:39 pm |
  15. Annie, Atlanta

    David in Dallas – don't you think he tried. The President can't do it without congress, and the Republicans in congress and blocking everything that is trying to be done to pull us out of this mess.

    I heard an interesting statistic the other day. There are over 400 bills that passed through the House that have been stalled in the Senate because of Republican fillibusters.

    I'd like to know why the Republicans are trying to drag us further down than they already have. At what point, when you have a politicial party that is trying to destroy us, literally, are they deemed terrorists? Seriously, anyone?

    September 6, 2010 03:42 pm at 3:42 pm |

    Everything the Pres. wants to do is to be paid for by the taxpayer. The least that can afford it. This president has a one way road to hell.
    NO WE can not be fiscally dumb. That's just the way it is.

    nam vet

    September 6, 2010 03:42 pm at 3:42 pm |
  17. usualone

    We have already seen some fine infrastructure results. It is a start but better than we had in the past. The PA Turnpike from near Reading to Harrisburg is one example. Our gas mileage is improving because of smoother roads. Parts of Rte. 422 in PA are better than before, as a result of previous stimulus by this President. Just open your eyes and you will see some improvements. It is a start, better than nothing...impatient and angry Americans.

    September 6, 2010 03:42 pm at 3:42 pm |
  18. SkiDoc

    Good grief, man.......stop it! What don't you understand about the deficit? Your Labor Day socialist announcement is a testament to the need for a complete revamping of congress in the fall elections.

    November cannot come soon enough!

    September 6, 2010 03:45 pm at 3:45 pm |
  19. Texas Progressive

    The Republican Congressmen are political terrorists. Conservatives undermine progress to ensure their political success. Terrorists couldn't buy a better plan to harm America than the one being used by the GOP.

    September 6, 2010 03:45 pm at 3:45 pm |
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