September 6th, 2010
02:09 PM ET
4 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.

Full story


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

    The negativity is appauling. Even before the President is off the bench, people defeat him. No matter what he says, people are going to kill his ideas. He has to look and be stronger than Jimmy Carter was. President Carter was a decent man (he brokered the peace between Egypt and Israel and that should count for something) but he was manipulated by too many and appeared weak. That is why Reagan stood a chance. All Democrats should back this President because we know what the other choice will be. The President can tweek his ideas; with the other side in power we go back to an even bigger divide in this country. And we know who those who represent the Republican Party support these days....only their own pocketbooks. Selfish folk they are. Some should look at those who used to be Republicans to learn how their party used to be.

    September 6, 2010 02:19 pm at 2:19 pm |
  2. awaitingliberalizationbyCNN

    The infrastructure stuff might work, if they drop the union coddling prevailing wage crap that runs up the cost and ruins so many of these projects, but with this union toady running the country there isn't much chance of that, also please not that he is going to make sure our gas prices rise to pay for them. After all of the other crap he has gotten passed that has increased our taxes and fees, why is he now all of the sudden getting interested in jobs? He has ignored them since he has been in office.

    September 6, 2010 02:21 pm at 2:21 pm |
  3. KO

    The do-nothing Republicans pledging once again to do nothing. Why anyone would want to put these bozos (who helped cause many of our economic problems) back in charge is completely beyond me.

    September 6, 2010 02:24 pm at 2:24 pm |
  4. Albo58

    As usual, this President and his drones have come up with the grand plan of throwing our money at a problem and hoping that there will be a change! After the fiasco of the Stimulus bill which only stimulated political paybacks and the deep pockets of Union leadership, this clown thinks he can get away with it again...what a clueless, arrogant buffoon!

    September 6, 2010 02:25 pm at 2:25 pm |
  5. jim

    So after all the months of doing nothing on the economy Obama comes out with this so called small business plan that is financed by raising taxes on oil and gas companies.Typical democratic policies that have come to represent their policies over the times they have held power.(tax and spend).Obama's "dunce" needs to be removed.

    September 6, 2010 02:28 pm at 2:28 pm |
  6. ryan

    The sad thing is, what he's already done isn't even being talked about enough. They are paying for Obamacare by changing the way we use IRS 1099 forms. Look it up. They snuck huge changes to our taxes in to the rediculous health care bill. CNN please report on the form 1099 changes.

    September 6, 2010 02:34 pm at 2:34 pm |
  7. Hammerer

    This is the guy that ridiculed McCain's knowledge on the economy during the 2008 campaign.
    He not only does not have a clue but his appointees are worse. So far the economic strategy has been a disaster and the new scheme will only make it worse.
    Without the party of "No" America would be in financial bankruptcy.

    September 6, 2010 02:39 pm at 2:39 pm |
  8. motorboat

    With the way republicans are saying no to every bill and measure brought up by Obama to try and undo all the harm that had been done by the previous administration; Iraq war, aphganistan war, financial crisis, job crisis, etc. Maybe we should just tax registered republicans for these problems. That way our kids would not have to pay back the debt we have to endure because of their ignorance.

    September 6, 2010 02:40 pm at 2:40 pm |
  9. Limbaugh is a liberal

    When republicans propose it, they're called tax cuts. When Obama proposes tax credits they're called 'wasteful spending?' But then again, even if Obama gave in to republican proposals 100%, they would still vote it down. Such is the hypocritic party of NO.

    September 6, 2010 02:42 pm at 2:42 pm |
  10. BigE

    Mr. McConnel the tax cuts have not expired yet. Did the still in place tax cuts create jobs? Give us, the so called little people, the money so we can spend it to get the economy going.

    September 6, 2010 02:47 pm at 2:47 pm |
  11. Republicans gone wild!!

    I'M VOTING DEMOCRAT this fall. If you look at what's aT stake the Republican Tea Party is to risky. The Republicans candidates are untested, extreme and that is a dangerous mix in a tough economy. Play it safe and vote Democrats.

    September 6, 2010 02:47 pm at 2:47 pm |
  12. Anonymous

    To recover from the damage done to this country by the Bush administration and his "yes man" Republican congress will take generations. President Obama or any other president cannot accomplish such a task in a few years, but we have to start somewhere, and our only hope is with with President Obama and a Democratic congress

    September 6, 2010 02:49 pm at 2:49 pm |
  13. Marry

    President Obama and his administration at least try very hard to make the economy start up again. And they do that with a lot more success as the GOP that just sits there and does not even blink an eye when their candidates say thinks like: It is not their job to try to set conditions so that jobs can be created. They see it as their job to make sure the special interests make more profits on the backs of the middle class and the poor.
    So I would never vote against my very own interests and send more Republicans to Washington. They have proven in the past that they are for “ME first” instead of “We (the people) first” and they will not work differently in the future.
    The GOP is very good at being bad for the American people and the Democrats are very bad at being good.

    September 6, 2010 02:57 pm at 2:57 pm |
  14. Jason

    I love how the GOP cries wolf, i.e. higher taxes, with every single announcement the President makes...yet, I've seen my taxes go down...and I've yet to see a single piece of evidence to show me exactly where my taxes have, or will, go up. All I hear is the fear.

    September 6, 2010 02:58 pm at 2:58 pm |
  15. mother and sister of soldiers

    tax and spend...when will OBama learn this strategy fails? has the man have no understanding of economics and what creates jobs? Stop expecting corporations to foot your bill and you may restore their confidence whereby seeing job creation. Until then, you loose and this country continues to spiral down. We cannot afford your big debt or big government.

    September 6, 2010 02:59 pm at 2:59 pm |
  16. johnrj08

    Hey, Mitch, that "failure to deliver" couldn't be because you've orchestrated the most unprecedented obstructionism in the history of the republic, could it?

    September 6, 2010 03:09 pm at 3:09 pm |
  17. motorboat

    With the way republicans are saying no to every bill and measure brought up by Obama to try and undo all the harm that had been done by the previous administration; Iraq war, aphganistan war, financial crisis, job crisis, health bill, etc. Maybe we should just tax registered republicans for these problems

    September 6, 2010 03:11 pm at 3:11 pm |
  18. motorboat

    With the way the party of no is voting on every bill and measure brought up by Obama to try and undo all the harm that had been done by the previous administration; Iraq war, aphganistan war, financial crisis, job crisis, health bill, etc. Maybe we should just tax registered republicans for these problems.

    September 6, 2010 03:14 pm at 3:14 pm |
  19. floridian

    The words are "follow the money". Take a look at the fine print in the legistlation and I bet you will find words to the effect that the infrastructure $$ can only be spent for union labor. Another payback being called an economic stimulus - like the previous $$ spent to save all those teachers' jobs. Why does he continue to try to pull the wool over our eyes? Why can't he be honest and up front? Why does he have to travel to Wisconsin to lie?

    September 6, 2010 03:15 pm at 3:15 pm |
  20. andy

    People get the government they deserve... and right now with the stupidity of the American people at all time and the unprecedented level of GOP brainwashed middle class we deserve another 8 years of Bush, GOP and Tea Party. Let's all go back 200 years..

    September 6, 2010 03:18 pm at 3:18 pm |
  21. barry

    Poor President Obama. Look what the American people have done to him. It is not his fault. He is doing everything he can. People need to understand it's their fault unemployment is 9.6%and the deficit has exploded. They voted him in and knew he had no experience. This is a little more responsibility than a community organizer. He usually got his advice from the big labor unions and as usual he followed their advice and gave them a trillion dollars. This is not the Potus fault. He just had a dream. It's the American peoples fault because they elected him. Poor President Obama.

    September 6, 2010 03:22 pm at 3:22 pm |
  22. LMC

    Failing to deliver? With the Republicans trying to thwart the President at every turn, it is obvious that the Republicans want failure! Top Republicans have said they are proud of obstructing the government and would like to obstruct it more. The Republicans don't care one whit about the people–they want failure so that they have a better chance of coming back into power. They care more about power than they do the people of America. If this is your idea of a good party, than by all means keep supporting it. Just remember that this is the party that brought you the recession! Does anyone honestly believe that any other leader would have had more success by now? Our economy was based on lies and excess. Do we really want to travel back to that?

    September 6, 2010 03:24 pm at 3:24 pm |
  23. MatthewDetroit

    The Joker spent a trillion dollars and it did not help.

    He USED the excuse that it would be for roads and Infrastructure which was a LIE.

    Now he claims he needs 50 billion more for roads and airports. LIE.

    The AMOUNTS of money are SO high that NO ONE can actually track where the money is going.
    They also spent it to study Hookers in Brazil.....

    Take the trillion the US Citizens already gave you and use that for roads. Stop spending money on EVERYTHING else.
    STOP SPENDING MONEY.
    LEAVE THE TAX CUTS ALONE AND IN PLACE.
    RESIGN YOUR OFFICE AND MOVE ON OBAMA YOU THIEF.

    September 6, 2010 03:24 pm at 3:24 pm |
  24. Da Professor

    Sad comment - The Republicans will NOT pass any legislation that will improve employment prior to the election in November. That would improve the Dems chances for reelection and dampen the chances for Repub election.

    The Republicans are TOTALLY focused on being elected and the hell with unemployed Americans. As usual, the arrogant, self serving, hypocritical Republicans and Tea Party fools are disinterested in anything that would improve the lives of Americans if it would give Obama and the Dems a win.

    September 6, 2010 03:26 pm at 3:26 pm |
  25. Marvin

    The Republicans were fine with $3 trillion wasted in Iraq and $900 billion wasted on Bush's tax cuts for the rich but they aren't willing to OK $50 billion for our building the infrastructure of our own country? Just more disgusting politics from the Republicans. They put their politics ahead of the country every single time.

    September 6, 2010 03:26 pm at 3:26 pm |
1 2