Obama jobs speech, September 8, 2011, Joint session of Congress, More shovel ready jobs?, More Obama promises, More Obama spending
*** UPDATE BELOW ***
From the Chicago Tribune September 8, 2011.
“President Barack Obama will lay out a jobs
package worth more than $300 billon on Thursday, staking his
re-election hopes on a call for urgent bipartisan action to revive the
faltering economy.
With his poll numbers sliding to new lows amid voter frustration with
9.1 percent unemployment, Obama will make tax cuts for middle-class
households and businesses the centerpiece of the plan and will press
for new spending to repair roads, bridges and other deteriorating
infrastructure.
He will use his televised speech before a joint session of the U.S.
Congress, at 7 p.m. EDT, to urge passage of those measures by
year-end.
If congressional Republicans reject his remedies, his strategy will be
to paint them as obstructionists and blame them for the stagnating
economy.
Stubbornly high unemployment has heightened fears that the economy
could be headed for another recession. Net employment growth
registered zero in August as a budget standoff in Washington and the
European debt crisis spooked businesses and consumers.
Obama is under intense pressure to change perceptions that he has
shown weak leadership. His economic stewardship has been criticized by
both Republicans and fellow Democrats, casting a cloud over his
prospects for re-election in November 2012.”
“Republicans have derided an $800 billion economic stimulus package
that Obama pushed through Congress in 2009 as wasteful spending and
have pushed for immediate cuts in the deficit.
Democrats say that while long-term deficits must be addressed, the
economy needs a short-term fiscal boost.
Media reports have put the size of Obama’s jobs package at upward of
$300 billion. CNN quoted sources saying it could top $400 billion. The
White House would not confirm the reports.”
“Republican Senator Lamar Alexander said Obama should take
responsibility for making the economy worse.
“Unemployment is worse, housing is worse, the debt is worse, and he’s
done all that by throwing a big wet blanket over the economy with his
regulatory, tax and healthcare policies,” he said.”
Read more:
http://www.chicagotribune.com/business/sns-rt-us-obama-jobstre781765-20110902,0,2398267.story
What Obama stated on March 3, 2009.
“Two weeks ago, I signed into law the American Recovery and
Reinvestment Act, the most sweeping economic recovery plan in history.
And already, its impact is being felt across this nation.
Hardworking families can now worry a little less about next month’s
bills because of the tax cut they’ll soon find in the mail. Renewable
energy companies that were once downsizing are now finding ways to
expand. And transportation projects that were once on hold are now
starting up again — as part of the largest new investment in
America’s infrastructure since President Eisenhower built the
Interstate Highway System.
Of the 3.5 million jobs that will be created and saved over the
next two years as a result of this recovery plan, 400,000 will be jobs
rebuilding our crumbling roads, bridges, and schools, repairing our
faulty levees and dams, connecting nearly every American to broadband,
and upgrading the buses and trains that commuters take every day.
Many of these projects will be coordinated by Secretary LaHood and all
of you at the Department of Transportation. And I want you to know
that the American public is grateful to public servants like you —
men and women whose work isn’t always recognized, but whose jobs are
critical to our nation’s safety, security, and prosperity. You have
never been more important than you are right now, and for that we are
all grateful. (Applause.)
Now, in the coming days and weeks, my administration will be
announcing more details about the kinds of transportation projects
that will be launched as part of the recovery plan. But today, I want
to speak about an investment we are making in one part of our
infrastructure. Through the Recovery Act, we will be investing $28
billion in our highways, money that every one of our 50 states can
start using immediately to put people back to work. It’s an
investment being made at an unprecedented pace, thanks in large part
to Joe Biden, who’s leading the effort to get the money out the door
quickly. Because of Joe, and because of all the governors and mayors,
county and city officials who are helping implement this plan, I can
say that 14 days after I signed our Recovery Act into law, we are
seeing shovels hit the ground.”
“Now, we have another responsibility. Having inherited a
trillion-dollar deficit that we’re working to cut in half, we also
need to ensure that tax dollars aren’t wasted on projects that don’t
deliver results. And that’s why, as part of his duty, Joe will keep
an eye on how precious tax dollars are being spent. To you, he’s Mr.
Vice President, but around the White House, we call him the Sheriff —
(laughter) — because if you’re misusing taxpayer money, you’ll have
to answer to him.”
Read more:
http://www.whitehouse.gov/the-press-office/remarks-president-and-vice-president-transportation-infrastructure
From The Blaze October 13, 2010.
“Obama: ‘No Such Thing’ as a Shovel-Ready Job”
“The president has offered a number of his own “serious proposals,” not
the least of which was the American Reinvestment and Recovery Act.
The underwhelming fallout from the $787 billion investment is one of
many reasons the American public is challenging the Democratic
leadership this year.
In reflecting on his time in office, the president laments that he
looks too much like “the same old tax-and-spend Democrat,“ and
realized that ”there’s no such thing as shovel-ready projects.”
But the promise of these “shovel-ready” jobs was one of the Democrats’
main selling points in lobbying for the stimulus plan. In December
2008, the then-President-elect Obama pledged, “We’ve got shovel-ready
projects all across the country that governors and mayors are pleading
to fund. And the minute we can get those investments to the state
level, jobs are going to be created.” Just one day later, the
president-elect presented his ideas for a “bold agenda” of
“shovel-ready projects,” promising the creation of 2.5 million new
jobs when he took office.”
In March 2009, President Obama boasted that just “14 days after I
signed our Recovery Act into law we are seeing shovels hit the
ground.”
“At the same time, Vice President Joe Biden, the White House’s de facto
stimulus shepherd, said the stimulus act “provides a necessary jolt to
our economy to implement what we refer [to] as ‘shovel-ready’
projects, meaning projects that were on the books that were needed in
the municipalities and the states that would improve the quality of
life for our constituents, the competitiveness of our businesses, but
were unable to be funded.”
Months later when the economy hadn’t begun to turn around, Obama
continued to promise “shovel-ready” jobs. In August he bragged that
the stimulus helped fund “almost 100 shovel-ready transportation
projects… which are beginning to create jobs.”
A year later, Biden continues to parrot the White House’s claims that
“shovel-ready” projects were putting Americans to work, despite
stagnate unemployment levels. “Last summer… we had 1,750 highway
projects that were underway — ‘shovel-ready,’” he said this summer.”
Read more:
http://www.theblaze.com/stories/obama-no-such-thing-as-a-shovel-ready-job/
*** Update from the Guardian September 9, 2011 7:45 AM ***
“President Obama’s jobs speech to Congress – as it happened”
“9.10pm: Here’s a summary of tonight’s speech on jobs by Obama:
• Barack Obama unveiled his American Jobs Act, designed to boost employment and costing $447bn. Obama repeatedly urged Congress to “pass this jobs plan right away”
• The bulk of the plan is for $245bn in reduced payroll taxes, designed to make it cheaper for business to hire new staff, as well as spending on building infrastructure and education, including funds to retain teachers and retraining for the long-term unemployed
• Under the act, an average American family would receive a tax cut of $1,500 in 2012
• Economists said the plan, if adopted in full, could support two million new jobs and cut the unemployment rate from 9% down towards 8%
• But the plan contained little to address the crushing burden of America’s housing market, and for that reason was rejected as “inadequate” by some economists
• Republican leaders gave a tepid but civil welcome to Obama’s speech, without offering specific support, although more conservative Republicans remained staunchly opposed to any new spending
• The new spending and lower revenue would have to be offset by further cuts to the federal budget under the recent debt ceiling deal, to be identified by the congressional “super committee”, with Obama pledging to submit a revised set of budget changes”
Read more:
http://www.guardian.co.uk/world/richard-adams-blog/2011/sep/08/obama-jobs-speech-congress-live
Citizen WElls 
Austan Goolsbee Obama chief economic adviser leaving, Citizen Wells commenters on small business problems, Obama economic failures
Austan Goolsbee Obama chief economic adviser leaving, Citizen Wells commenters on small business problems, Obama economic failures
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″
“Another liberal economic nut ‘quits’ his job to go back to teaching, because the economy isn’t better. This is nothing more than a manager firing his advisors because he made a horrible decision, based upon his beliefs and their recommendations. Sadly, it’s not like these ‘economic advisors’ get held accountable for poor decision making process and economic policies. No, they get to go back to their ‘teaching jobs’ so they can tell students how great they are and how it was all somebody else’s fault.”…commenter pete
“It’s easy to see why some businesses hire undocumented workers to avoid the tax burden. Or worse yet they just pick up stakes and move out of the country.
And now obamacare will tax us more? Our government’s over taxation and interference has caused small businesses to be reluctant to hire more employees. Under the Obama regime we’ll see businesses leaving the country droves. It is no wonder that our country’s economy is on a downward spiral”….commenter Jonah
Reported on Citizen Wells this morning.
“Most of the key economic indicators have worsened recently, the unemployment rate is back over 9 percent and there is increasing mention of the spectre of a depression.
From the Chicago Tribune June 6, 2011.
“Top Obama economic adviser, Austan Goolsbee, will quit to return to University of Chicago”
“Austan Goolsbee, President Barack Obama’s chief economic adviser, is leaving the administration and returning to the University of Chicago Booth School of Business to teach.
The announcement from the White House late Monday comes at a time when the U.S. unemployment rate is back above 9 percent, speculation is growing that the nation may be at risk of dipping back into a recession and amid intense political debate over whether to extend the nation’s debt ceiling,
Goolsbee began advising Obama before his election as president and has become the administration’s chief public spokesman on the economy. He has headed the White House Council of Economic Advisers for the past nine months. On ABC’s “This Week” program Sunday, Goolsbee emphasized that the administration had made progress on employment since the depths of the Great Recession and said “don’t make too much of any one jobs report.”
May’s unemployment rate, released last week, climbed to 9.1 percent. The stock market has been sliding recently on concerns about a slowing economy in the U.S. and globally.
Obama said in a statement, “Since I first ran for the U.S. Senate, Austan has been a close friend and one of my most trusted advisers. Over the past several years, he has helped steer our country out of the worst economic crisis since the Great Depression.”””
The following comments placed on that article are worthy of publishing:
Commenter pete:
CW,
Do you think that anyone has seen through the game. Another liberal economic nut ‘quits’ his job to go back to teaching, because the economy isn’t better. This is nothing more than a manager firing his advisors because he made a horrible decision, based upon his beliefs and their recommendations. Sadly, it’s not like these ‘economic advisors’ get held accountable for poor decision making process and economic policies. No, they get to go back to their ‘teaching jobs’ so they can tell students how great they are and how it was all somebody else’s fault.
From a small business perspective the problems are easy to see. Foremost, you have a bunch of idiots making the hiring of new employees and economic growth very risky. Obamacare, new regulations, unable to get loans and credit, inflation of goods costs, and bear marketplace all conspire to strike fear into employers. Second, customers are AFRAID. About 1/3 of americans see the Constitution (and rule of law) evaporating before their eyes for the first time in history, and they fear for the future. About 1/3 of Customers are oblivious to the politics, but have no jobs or real income and are underwater on their houses. About 1/3 are starting to believe that the government could default on SS and Medicare/Caid, as well as other entitlements which they are dependent upon. These factors lead to a loss of Consumer Confidence, and fewer and fewer exchanges, jobs, and tax revenue. By the way, even IF you succeed now, and make more than 250k in a year, create jobs, and help your local community, you will be saddled with 71% income tax next year. REALLY! 71%, you might as well make less and smell the roses, send some of your employees home.
What I’m trying to say, while out in the trenches of the small business world, is that Jimmy Carter II on Steroids, Barack Obama (or whatever his/her name is) is bad for small business. Small Business is the engine that runs the American Economy, and it hurting. The government bailouts…..none was targeted to growth of small business or small industry. The new regs and obamacare attack all industry , but are especially hard for small business to cope with because of limited resources.
Ronald Reagan understood america and small business contribution. His economics weren’t trickle down as much as they were designed to help the middle class businessman, the Job creator, to succeed. Obama economics are pumping trillions to the Bankers and the GM/GE of the world, which is truly a trickle down economics. Worse yet, that money just ends up overseas in the ‘global economy’ with job creation elsewhere.
Obama’s economics have struck at the heart of America by removing MIDDLE CLASS JOBS and therefore, the middle class. The liberals, whom pride themselves supposedly helping the poor and middle class, are hypocrites, as their policies actually make it worse for these people by depriving them of needed small business jobs and manufacturing. While people will start to get used to the ‘new economy’ of 8-12% unemployement, the government is going to run out of ‘other peoples money’ soon, and the other shoe is going to drop.
What I written above I believe with my very core, and since it is critical of Obama and his Fascist/Elitist policies, I suppose that makes me a racist. I have sensed an increase in attacks from the left wing nuts as the reality falls upon them that the ‘annointed one’ and his cronies are a lot of hot air and not of true real life tested ideas. Just like socialism I might add, lots of ‘utopia promised’ followed by lots of misery and failure.
Keyensian ecomomics doesn’t work when you don’t have a base of production and small business. Keyensian economics doesn’t work when the Government is not a moderator, but becomes the unchecked new predator (competing for business resources) in a delicate system of customer and business. The ‘brilliant’ economists that have ‘quit’ the Obama economic team obviously not as smart as they thought they were….perhaps we should call Obama’s Economics the ‘Audacity of Arrogance with Ignorance implemented with Inexperience’.
Sorry, done ranting for the morning, I gotta go back to work to try to keep my employees with jobs and pay for other peoples mortages.
Pete”
Commenter Jonah:
“Pete,
Our family has owned a business for almost 40 years. I started paying the bills for the business about 7 years ago and I was alarmed to learn the cost to run a business.
OUR SMALL BUSINESSES PAYS:
FEDERAL INCOME TAX
STATE INCOME TAX
FEDERAL UNEMPLOYMENT TAX
STATE UNEMPLOYMENT TAX
7% SOCIAL SECURITY TAX FOR EMPLOYEES
(this is in addition to the 7% the employee gives the government)
PROPERTY TAX
PERSONAL PROPERTY TAX
UTILITY TAXES ON GAS, ELECTRIC, AND PHONE
GASOLINE TAX
SALES TAX TO THE STATE FOR EVERYTHING WE SELL
APROXIMATELY 7% SALES TAX ON EVERYTHING WE BUY
PLUS WE PAY
MEDICAL INSURANCE
AUTO INSURANCE
PROPERTY INSURANCE
LIABILITY INSURANCE
WORKMAN’S COMP
VARIOUS LICENSES AND PERMITS
I’m sure I’ve forgotten a few things.
THE GOVERNMENT GETS MORE OF OUR MONEY THAN WE DO!
It’s easy to see why some businesses hire undocumented workers to avoid the tax burden. Or worse yet they just pick up stakes and move out of the country.
And now obamacare will tax us more? Our government’s over taxation and interference has caused small businesses to be reluctant to hire more employees. Under the Obama regime we’ll see businesses leaving the country droves. It is no wonder that our country’s economy is on a downward spiral.”
42 Comments
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Tagged Austan Goolsbee Obama chief economic adviser leaving, Citizen Wells commenters on small business problems, Obama economic failures