September 14, 2011
Today the President sent his jobs bill to Congress. This is a 447 billion dollar package that according to Jack Lew his Budget Director is completely paid for. It appears all Democrats are on board and agree this bill must be passed so we can get the job market going once again.
How they will pay for this jobs bill is simple if put in layman terms, raising your taxes. If you are single earning 200 thousand or married earning 250 thousand each year you will feel the American Jobs Act with provisions to reduce your itemized deductions currently allowed. By raising the target of the Joint Committee the President feels the american public will agree with the spending.
What is of concern is the first 897 billion dollar spending bill created 100 thousand jobs in the federal government but nothing in the private sector. We have 14 million Americans looking for work and if this jobs bill addressed our deficit spending problems and actually was paid for with funding that doesn’t come from increases in taxes possibly there could be bipartisan support.
However we have been down this road before as Jack Lew stated when discussing the provisions of this bill, ““Will be familiar to most of you because they are ideas we have talked about for the most part for some time. That is the red flag that makes us leery as the administration has been down this path with a Democratic majority and could not get support. Why do they think the support is there now?
July 7, 2011
Where are the jobs? According to President Obama when he pushed for the 878 billion dollar stimulus package after the election he stated we needed the funding so unemployment wouldn’t go over 8%, so he got it. Now with the new numbers out from the Labor Department the outlook is still bleak. Unemployment is at 9.2% nationally with 29 straight months over that magic number of 8%.
In Nevada the Majority Leader Harry Reid (D) pushed the bill so we could get millions of dollars for those “shovel ready” jobs that was to stimulate the economy. The roads across the state were torn up and expanded on with Federal Funds from that stimulus package. Stimulus funds went to Northern Nevada to help fund a solar energy company which stated they will create 269 new jobs using green energy. Money was spent all across the country to stimulate the economy. But we have to ask once again, Where are the jobs?
Both the House and Senate were to forego the 4th of July holiday to address the spending problems Congress has with the Americans tax dollars. They talked all week to news reported detailing what their parties were going to do to reduce the deficit and create jobs. Our National debt will be 14.5 trillion dollars by the time this article is written and rising approximately 14 thousand dollars a second.
The Republicans will not raise taxes according to Eric Cantor (R) Virginia. During a news conference held earlier today he stated ” Democrats insist on tax increases, there is no way!” Those Republicans talking to reporters all agreed the stimulus didn’t work and we can not continue traveling down this path which is killing our economy.
Representative McCarthy (R) California suggested last week the President get off the golf course and into the debate to show some leadership. Today he stated “Not a time to talk about raising taxes, it is a time to talk about reforming taxes. All the Republicans gathered on stage vocalized the same message. Everyone believes our government needs to stop spending what isn’t there just as the citizens of this country do.
Representative Nancy Pelosi (D) California also held a news conference to discuss the talks concerning where we are as a nation. She wanted to make the question and answer session short because she “Wanted to make every second count” as she deals with the debt crisis.
Representative Becerra (D) California stated Medicare and Social Security shouldn’t be reduced as they do not add one cent to the National Debt. He hoped the other side will work through the weekend and realize we can find ways to work through the debt problem in other areas.
Representative Larsen (D) Connecticut went on a rampage insisting “You can’t cut your way to prosperity.” Then went on to say “They (Republicans) can’t see the time of day in a watch factory” referring to their stance on tax cuts and economic growth philosophies.
President Obama went on the news to say they are making progress and would work through the weekend to find a resolution and meet back with him on Sunday. He stated again there were tough choices to make and both sides must be flexible for talks to achieve the outcome desired. Stay tuned as we learn more in the next few weeks.