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.
I'm not sure 300 billion is quite enough. I just hope the President goes all out in his plan. Give the TEApublicans an ultimatum. They're either for jobs, or against them.
"A couple of years ago, a Republican committee staff director told me candidly (and proudly) what the method was to all this obstruction and disruption," he wrote. "Should Republicans succeed in obstructing the Senate from doing its job, it would further lower Congress's generic favorability rating among the American people. By sabotaging the reputation of an institution of government, the party that is programmatically against government would come out the relative winner."
-Mike Lofgren, long time Republican staffer who served the House and Senate Budgetary Committees.
Wonder how many of these billions will land up in Obama's campaign war chest. Bet a lot.
Well, we already know that Republicans are against the payroll tax cut. They are against improving out infrastucture, or even repairing it for that matter.
We also know that Republicans will be against anything President Obama proposes, even including the tax cuts in his proposals. They will claim that it is the wrong type of cut, that it should be bigger, that this plan will not create jobs, etc. But, where is the Republican plan for creating jobs. Oh! Oh, that's right. The GOTP jobs plan is to cut spending, which slashes jobs and stalls the recovery.
let me guess... green jobs...roads and bridges..of course shovel ready....hopefully it wont be the same song and dance we have heard for the last 3 yrs...
We need Alternate Energy for sure, not Oil, it creates Big Pollution, Climate Change, ruin this planet. Oil companies are bringing all their drama. Yes, on Infrastructure, Public Transport, Green Energy, Education, Stricter Immigration, but not subsidy to Oil companies, etc,., Good Luck, Obama....Raise taxes on 250k or more earners, generate revenue, Nab Medicare Fraud....o.k, Use more PAs, and NPs in hospitals, to cut health care costs. Tell to Pharmacy companies to produce more "Generic Medicines". Lotamax eye drops costs 250 dollars with Insurance, is silly and stupid, Metro gel costs 220 dollars with insurance is stupid...wake up, America , Ask these things from the Government.o.k, Time for states to set up Health Care Exchanges....good luck, god bless....
It's going to be the same, tired, govt run effort. I hear in Dem cicles that the word "stimulus" is a dirty word now. So don't use that word anymore, makes it harder to fool the electorate.
Man, for a guy who supposedly is smart, he keeps doing dumb things.
For Obama to succeed, he's got to reject his failed Liberalism, and I'm afraid he can't do that. So, in the meantime, we all suffer. Anyone who still supports the president, after his record, is shamefully partisan.
I also am going to predict that nobody will watch this address. The average American has tuned him out, and for good reason.
"We need Alternate Energy for sure, not Oil, it creates Big Pollution, Climate Change, ruin this planet."
YEs, but didn't you see the main article currently on CNN's homepage? Big Oil, in response to the impending jobs speech, has finally told us what we get in return for the ransom, claiming it will create 1.4M jobs if allowed to exploit more of our natural resources. Don't doubt that it was purposefully timed to coincide with GOPers debating this week and spending alot of time criticizing Obama's jobs proposals. It is, in fact, specifically designed to help the GOP appeal to Americans who have reached the point of "give me any table scraps you're willing to give me...I can't atke it anymore" as a result of Big Oil and other giant industries with way too much control over our country holding the economy hostage in order to get what they want. Big Oil has the resources to be a frontrunner in creating green fuel alternatives, but it's waaaaay easier to spend money on lobbying efforts than to spend it on R&D. Go ahead and look up how much money they spent on lobbying for new oil drilling rights instead of using it to find cleaner and more efficient fuel alternatives....then take a guess whose pockets it ended up in.
Where's the article about Charles Koch quoting Saddam Hussein in a speech before a gaggle of millionaire/billionaire conservative donors, saying that 2012 will be "the mother of all wars" against the Democrats?
"Wonder how many of these billions will land up in Obama's campaign war chest. Bet a lot."
Right in the safety deposit box next to his Kenyan birth certificate and Muslim Brotherhood membership card, I assume?
The great divider doesn't even deserve a response to his speech.
Same ole Same ole.
"I'm not sure 300 billion is quite enough."
Really? How much is "quite enough", and if you have the answer, why aren't you working for the administration?
@ sniffit..Thank you for supporting. Hats off to you.... I saw it, so this note to Obama. At least he reads, unlike other presidents. I call this president up-to date high-tech president. God bless our nation, the USA.
Just I want to see congress proposal
This $300 billion is almost the amount that went to infrastructure spending from the first Stimulus. And the $300 billion or so that went to tax cuts shouldn't even be counted, since repugs don't count tax cuts as spending, when they do it.
And the other $300 billion or so that went to the states adds up to, actually, less than $900 billion (less than $600 billion, without the tax cuts), but last Sunday on one of the talk shows, some lying repug was calling it a $1.2 trillion stimulus, and was not corrected.
Here's to voting for the CANDIDATE, not the CORPORATION (or jobs machine, whatever fairy tale THAT is).
Well, we all know the Party of No is not interested in helping the American people or the president get out of the hole we're in. I suggest he throws it out there and let US decide. If the republicans continue to obstruct and get in the way of progress then we the people will make sure they don't cause us anymore trouble – as we will vote them all out in 2012. Let's send them to the unemployment lines where they belong.
This administration doesn't have the first clue about how to turn this economy around. The numbers don't lie:
Annual average unemployment rates directly from the US Department of Labor:
Not quite the 8% or less the administration promised us, is it? Like I've said 100 times before, I don't blame this administration for creating the problem. 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), CEO after CEO telling this administration that we need pro-growth administration but they have other thoughts.
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. It is again a spending bill, not a jobs bill. Very little of what is in it will do any good. America does not need another $300 billion of spending that does not help the economy.
This community organizer is clueless. Hurry 2012 so we can vote this guy out. Hopefully it won't be too late to save our great country.
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
"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? You're jumping the gun, junior...just like the GOP/Teatroll leadership who feeds you your talking points and their public relations pre-emptive strike on the speech.
"Really? How much is "quite enough", and if you have the answer, why aren't you working for the administration?"
World class economists like Nobel Prize winner Paul Krugman argued waaaay back when the original Stimulus was enacted that it needed to be at least $2T or so. The GOP forced it to be much smaller and contain almost 50% tax cuts that wouldn't stimulate, but merely help temporarily stabilize, the economy. Yuo can rest assured that $300B proposed would be much bigger if the country wasn't full of morons who have subscribed to the ideology that cutting all our spending is how to grow the economy, despite lack of any factual, evidentiary or historical record supporting such nonsense....not to mention the contrary evidence that every time Keynesian economic policies have been allowed to be applied, they have worked.
"(see the lastest $1b Ford plant being built in India), "
Ford is building a second plant in Gujarat TO ADDRESS GROWING DEMAND IN INDIA as evidenced by sales IN INDIA. Nobody with any sense argues that Ford should build them here and ship them to India for Indian consumers. Conversely, they're clearly not building them in India to ship them overseas to the US for US consumers. This is a markedly different situation than clothing manufacture or portable electronics. However, the situation does highlight the true underlying problem facing our nation: A CRISIS OF DEMAND. It is not a crisis of supply or lack of capital and resources on the supply side. It is a lack of demand because the middle-class in this country has been and continues to be SUCKED DRY via consumer debt and stagnant wages. Corporations complaining about it made their own freekin bed when they decided they could pay us the same thing for decades and decades while increasingly relying on consumer debt products (mortgages, car loans, educations loans, credit cards, etc.) and their own investments in the financial instruments derived from such products as a way to bolster demand and their own net incomes. It's reached critical mass...and economic singularity with the gavity of a black hole. Want out of it? Start by recognizing that supply-side economics is a lie.
Kind information Jan 2009 unemployment rate was 7.8% and 2008 Dce 7.3%
“This meltdown started during the GW administration” actually Before GW leave the office he destroyed every thing
When Obama start to clean up the mess we start to see the devastation
I agree with you on Obama gave wrong numbers for clean up the mess that will hurt him