Excerpts of Obama’s Speech on Jobs:

[Robb]

Courtesy http://blogs.wsj.com/washwire/2011/09/08/excerpts-of-obamas-speech-on-jobs/">WSJ:

The people of this country work hard to meet their responsibilities. The question tonight is whether we’ll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy; whether we can restore some of the fairness and security that has defined this nation since our beginning.

Those of us here tonight cannot solve all of our nation’s woes. Ultimately, our recovery will be driven not by Washington, but by our businesses and our workers. But we can help. We can make a difference. There are steps we can take right now to improve people’s lives.

I am sending this Congress a plan that you should pass right away. It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans – including many who sit here tonight. And everything in this bill will be paid for. Everything.

The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. You should pass this jobs plan right away.

[chill_wind]

1. It's already being criticised

as too small. Presumably to try get GOPHers on board. But not that Republicans will cooperate anyway.

The Obama plan could include $120 billion to extend or even enlarge the current payroll tax cut, according to a Democratic source familiar with the plan. The cut, which has cost $112 billio toget n so far, allows employees to pay 4.2% instead of 6.2% on their first $106,800 of wages into Social Security.

Obama's proposal could also include $50 billion to extend unemployment benefits, which were lengthened to the current 99-week maximum in 2009. Top Democrats argue that such money will immediately be pumped back into the economy in the form of new consumer spending.

In addition, the plan could propose $100 billion for infrastructure development such as repairing roads and bridges.

Steve Bell, senior director of the bipartisan Economic Policy Project, said Wednesday that the scope of the plan is too small.

more details- http://www.cnn.com/2011/POLITICS/09/08/obama.jobs.plan/

Political showdown shaping up over Obama's 'American Jobs Act'
By the CNN Wire Staff
September 8, 2011 6:05 p.m. EDT

[chill_wind]

2. OTOH Cantor (CBSNews):

Still, House Majority Leader Eric Cantor this week identified some areas in which Republicans expect to be able to work with Democrats, including initiatives on infrastructure, unemployment insurance and trade bills.

House Democratic Leader Nancy Pelosi today sent a letter to House committee leaders, asking them to act on the president's proposals immediately. But given that Republicans control the House, it's unclear how fast they will act.

http://www.cbsnews.com/8301-503544_162-20103581-503544.html

(well the trade bills were pretty much a given).

[Bandit]

3. How are tax cuts paid for I wonder?

Or FICA cuts. I know many don't like to call them taxes but how are they going to be paid for?