Obama preparing $300 billion jobs package
September 7th, 2011
07:20 PM ET
3 years ago

Obama preparing $300 billion jobs package

Washington (CNN) - President Barack Obama is preparing to roll out proposals Thursday totaling $300 billion or more to strengthen the shaky economy and stimulate new job growth, according to Democratic sources.

While some sources put the size of the package at roughly $300 billion, one Democrat familiar with the president's plan said Wednesday that the working figure was growing and could top $400 billion.

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Filed under: Jobs • President Obama
soundoff (45 Responses)
  1. Rudy NYC

    True Centrist wrote:
    This meltdown started during the GW administration, but what I do blame this administration for is all the job killing legislation they have signed into law. One after another...like a slap to the face of the American people. Stimulus money wasted, jobs going overseas (see the lastest $1b Ford plant being built in India), ...
    -------------
    I don't normally conduct classes, but in your case I will make an exception. What job killing legislation are you referring to? Republicans have successfully blocked every job oriented legislation since the Stimulus.

    Ford did not recieve government funds. The Ford plant is being built overseas because that is where the cars are going to be sold. Ford also opened a plant in the Chicago area.

    And, the American people cried out for a Stimulus plan (You bailed out Wall St, what about Main St?) Republicans filibustered it until 40% of it was tax cuts. They filibustered it until 20% of it went to large banks, instead of the smaller ones. Despite all of that, the Stimulus still stopped the economic free fall. Don't forget, the GOTP plan was to "do nothing" and let the "market forces" prevail. And, name one thing that Republicans have proposed to create jobs? I can. NOthing.

    September 7, 2011 12:09 pm at 12:09 pm |
  2. Ohio Man

    @Four and The Door
    .. Would you mind telling us how much the Bush tax cuts "added" to the debt?.. and then tell us how many jobs it created ?.. please take ur time.. we will wait for you to come up with a very good excuse.. tic toc tic toc ..

    September 7, 2011 12:10 pm at 12:10 pm |
  3. vic , nashville ,tn

    @ John.K

    “If 0bama really wants to put forth a credible stimulus proposal, it should include the following:
    1) Repeal Obamacare
    2) Repeal Dodd-Frank
    3) Allow the repatriation of corporate profits earned overseas at a reduced tax rate
    4) Submit his resignation as President”

    Is that enough?

    September 7, 2011 12:10 pm at 12:10 pm |
  4. carly

    I wonder how long after Obama's jobs speech the Right wing party of obstruction will reject every one of his recommendations. I bet it will be under 5 minutes. The only way to solve the nation's problems is to kick every last right wing republican out of office.

    September 7, 2011 12:11 pm at 12:11 pm |
  5. Justin E.

    Does no one have common sense anymore? There is a reason History is taught in schools. Learn from it! The Government(Republicans or Democrats) shouldn't be responsible for "Creating" jobs. The Free Market economy will do that on it's own when the Government starts showing signs of backing off and cutting spending. Lower taxes and cut spending and the jobs will come. This isn't some "wild hair up our a$$" plan... IT WORKED BEFORE and it will work again. Companies and Consumers alike are both terrified of whats to come from our Government so they are sitting on every dime they can.

    September 7, 2011 12:14 pm at 12:14 pm |
  6. Rudy NYC

    Four and The Door wrote:
    I do hope the House of Representatives continues to stand up for the American taxpayer, the unemployed and the future of this country to shoot down this poorly planned effort to blow another $300 billion.
    -------------
    Most of it is commone sense legislation that the country needs. It has an extension of the payroll tax cut, which Republicans oppose. It has spending to repair our crumbling infrastructure, which Republicans oppose. It contains tax breaks for *actual* small businesses, which Republicans oppose. It contains common sense, which Republicans oppose.

    September 7, 2011 12:14 pm at 12:14 pm |
  7. Dominican mama 4 Obama

    Mr. President:
    You bettter than any of us knew this was going to get tougher. The obstruction with no alternatives; the synchronized misinformation and disrespect of anything you might present.
    DO NOT WAVER sir! Stand strong.
    Those that sat out the dance Novemeber 2010 will most definitely show up to the party November 2012. Our voices will be heard. We will throw out the SOB's with our vote thereby liberating our country of the Teahadists that hold it hostage.

    I stand with THIS President in defending the America I willingly pledged allegiance to so many years ago, against domestic and international enemies living under our flag and abroad. Against billionaires, corporations and politicians looking to further enrich themselves at the expense of her lifeblood, the middle class.
    Obama 2012

    September 7, 2011 12:15 pm at 12:15 pm |
  8. Four and The Door

    Sniffit
    "Very little of what is in it will do any good. "
    I won't even ask for your analysis of why none of it will do any good, because we'll just get more of the same old "trickel-down" type talking point blather. Rather, let's start with the threshold question: how do you even knwo what's in it other than the rampant speculation from the media as to what it MIGHT contain?
    ___________________________________________________________________________________________________
    From the article:
    Obama is also expected to push for another extension of unemployment benefits, which were lengthened to the current 99-week maximum in 2009.

    Extending unemployment benefits does not put people back to work or create jobs due to some convoluted " trickle up" theory about how an economy works. But it is very good at doing what the Obama Administration has been very effective at: increasing debt and unemployment. This is his plan?

    September 7, 2011 12:17 pm at 12:17 pm |
  9. Ohio Man

    @Four and The Door
    Funny how you always leave out how much debt the repubs added and how much the bush tax cuts added and still continues to add to the debt and has not created any job growth, only thing it has done was create savings for the rich, but I guess thats no biggie since this is all about making Obama a 1 term prez right ? .. i just wish you can come on here with some facts and stop acting like this is America's 1st POTUS and he has created all the debt ...

    September 7, 2011 12:22 pm at 12:22 pm |
  10. Rudy NYC

    carly wrote:
    I wonder how long after Obama's jobs speech the Right wing party of obstruction will reject every one of his recommendations. I bet it will be under 5 minutes
    ------------–
    In addition to some members boycotting the session, Republicans have already neglected to announce a person and place for the media to listen to a rebuttal. I think they will wait for Limbaugh's rebuttal in the morning, and then run with it.

    September 7, 2011 12:23 pm at 12:23 pm |
  11. California Conservative

    Stopping Boeing from creating jobs in NC. Suing Banks. Going after a company that is completely manufactred in this country (Gibson). Does anything but bring stability to the economy.

    September 7, 2011 12:24 pm at 12:24 pm |
  12. ConservaFASCISTS/TEAliban/TEAhadists

    Really? How much is "quite enough", and if you have the answer, why aren't you working for the administration?
    ----------------------------------------------
    I'll pass on any government job. Been there, done that, got the t-shirt. However, in any jobs bill, I think it's the obligation of the federal government to be able to loosen up credit. While these big corporations are sitting on their 2.5 trillion dollars and not lending, it's vital for the government to intervene to get the economy moving. On top of that, I think there should be tax credits given ONLY to companies who hire. If employers are not bearing all of the risk, I believe they're more inclined to hire. And one of the biggest things that needs to be done is addressing China's manipulation of their currency.

    September 7, 2011 12:25 pm at 12:25 pm |
  13. R.I.P. Damon

    Here's a fool-proof, one step plan that's guaranteed to create more jobs: vote Obama out of office on November 6, 2012.

    September 7, 2011 12:26 pm at 12:26 pm |
  14. Rudy NYC

    Four wrote:
    Extending unemployment benefits does not put people back to work or create jobs due to some convoluted " trickle up" theory about how an economy works.
    -------------
    Unemployment benefits keeps spending up. For every dollar spent on unemployment, almost all of it spent almost immediately here in the USA. That means it generates commerce, which generates sales tax revenue to tune of $1.60 for every dollar spent. Tax cuts for the wealthy return on $0.20 for every dollar spent.

    September 7, 2011 12:28 pm at 12:28 pm |
  15. Dominican mama 4 Obama

    From the article:
    Obama is also expected to push for another extension of unemployment benefits, which were lengthened to the current 99-week maximum in 2009.
    --------------------------------------------------
    Basic reading comprehension. "Also", as in "in addition to" whatever else he wil present Thursday evening.
    In other words the unemployment extension is something that he will be pushing for, NOT a key component to his Jobs Proposal.
    Good Lawd!

    September 7, 2011 12:30 pm at 12:30 pm |
  16. John, PA

    $300 billon dollars more, no way, is this all this president knows? This economic stimulus package is going to do nothing, it's a failure, kiss more the American jobs and taxpayer dollars goodbye.

    September 7, 2011 12:30 pm at 12:30 pm |
  17. ON THE FENCE VOTER !!!!

    $300 billion is not big enough! Pres.Obama is playing small ball and playing with Democrats political future. Unemployment is high in minority communities and needs a play that is target to these area. The President needs a big public works project to rebuild the inner cities and put the long term unemployed back to work. The plan needs to "Create, Hold, and Grow".

    September 7, 2011 12:31 pm at 12:31 pm |
  18. John, PA

    The only speech we need to hear from Obama is:

    I RESIGN EFFECTIVE IMMEDIATELY!

    September 7, 2011 12:34 pm at 12:34 pm |
  19. Dominican mama 4 Obama

    Interesting....some confused sould also declared on this blog that the stimulus used to save the car industry did nothing.
    Really? I must be dreaming that I'm at work as I type. Now they are saying that this economic stimulus package won't work either. Mind you, the details have yet to be revealed, yet we already KNOW it won't work! Pretty incredible.
    It's like praying against all hope and reason that NOTHING this man does HELPS the country. It appears to be far more important for a lot in government and on this site to be right on this count than to pray for the sake of the country that they profess to love so much that what the President proposes actually WORKS!

    September 7, 2011 12:38 pm at 12:38 pm |
  20. Tired of the Nonsense

    To California Conservative who wrote, "The great divider doesn't even deserve a response to his speech."

    Bush is gone. It doesn't matter what speeches he makes now. You don't have to respond to him. After all, Bush is definitely one of the biggest dividers ever to sit in the White House. There were essentially two parties during the 8 years he stole the Oval Office. You had the real Americans, and then you had Bush/his cronies/people who supported them. The division is now between the intelligent Americans and the GOP groupies.

    September 7, 2011 12:39 pm at 12:39 pm |
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