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Obama Focuses on Middle Class, Economic Security in Labor Day Weekend Address
- Calls for jobs-creating infrastructure investments in face of expected GOP obstruction -
By Julie Pace
WASHINGTON – Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation’s roads, railways and runways that would cost at least $50 billion.
The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.
From the VA:
The AP(9/4, Superville) reports President Obama said in his weekly addressthat a “strong economy needs bustling Main Streets and a thriving middle class, not just a healthy stock market.” The President “outlined what he’s done to help the middle class, a group he says has been squeezed the most during the recession. He spoke of efforts to create jobs, make college more affordable, help the middle class build retirement nest eggs, cut taxes on these families and stop health insurance companies from refusing to cover people with pre-existing medical conditions.” The President said, “This Labor Day, we should recommit ourselves to our time-honored values and to this fundamental truth: To heal our economy, we need more than a healthy stock market; we need bustling Main Streets and a growing, thriving middle class. That’s why I will keep working day by day to restore opportunity, economic security and that basic American dream for our families and future generations.”
Bloomberg News (9/4, Johnston) reports the President will “outline new ideas to boost growth and hiring” this week. The President “has also urged Congress to pass a package of measures to help small businesses, including tax breaks and aid to ease credit.” The New York Times(9/5, Calmes, 1.01M) reports the President “will ask Congress to increase and permanently extend a popular but costly tax credit for businesses’ research expenses, and to pay for it by closing other corporate tax breaks, according to administration officials.” He will also “call for expanding the simpler of two credit options available to businesses. He would increase that to 17 percent from 14 percent.” The Times notes that in his address, Obama “said more must be done to help the middle class and ‘to accelerate job creation.’”
The Washington Post(9/5, Kornblut, 605K) says as he heads “into a week of major economic events, the president is attempting to walk a familiar fine line between sounding optimistic and realistic, striking a forward-looking tone even as he recounts reasons why the US economy has sagged for so long. ‘I don’t have to tell you that this is a very tough time for our country,’ Obama began his address, then claimed credit for having ‘stopped the bleeding’ in the job market that he inherited upon taking office.”
Short URL: http://www.veteranstoday.com/?p=47931
Posted by Yanira Farray on Sep 6 2010, With 0 Reads, Filed under Corruption, Politics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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More minimally effective deficit adding tax expenditure rubbish. It’s Labor Day. Where’s My Bailout?
Bush, Obama and Congress promoted the impression that bailouts and interest rate decreases would revive the economy. They knew that roughly $13 trillion purchasing power had been destroyed by the bank bubble blowers. Hiring stagnation is a demand problem. Job creation in America could only occur, if after tax profit could be made from new hires. That would happen, only if there was money-backed demand for goods and services.
Federal government Republicans and Democrats have connived for 40 years to subsidize neo cartels of giant corporations, “special interests” (banks, oil companies etc.) and to facilitate the real job killers: automation, merger and acquisition, and job export. Now, with workers impoverished, effective consumer demand, needed to fuel job creation, has failed. Republicans’ Voodoo Economics of tax and especially benefit cuts are worse than useless. To anyone not rich, but with foresight, they are harmful. But Democrats are equally guilty connivers. They pretend they can’t abolish the filibuster rule. Mythical “bond vigilantes” allegedly threaten any more stimulus. Democrats have shirked every opportunity to lead genuine popular movements for change.
Where’s your bailout? Consumer debt could be re-structured to lower interest costs through federal borrowing and direct payoff of consumers’ debts. The consumer pays back the government at lower interest. Private wages could be subsidized much more heavily. Shared work: earlier, partial retirement, apprenticeship, cutting overtime, mandatory vacations are all possible.
Sleeping voters, Awake! Apply shock therapy: mass de-registration from both major parties. Replace leading Republicans and Blue Dog “Democrats” with Libertarians and Greens. They agree on getting completely, immediately out of “Iraqistan” and getting the Federal Reserve out of private bank control. Demand simple majority rule in the Senate and people – oriented stimulus.
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It sounds good. Keep it up.
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I’m starting to think VT is a joke.
You can’t be stupid enough to believe this.
Can you?
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