Sep 6, 2011

Obama's $300 billion jobs plan? DOA

The PuffHo reports that Obama is planning to unveil a $300 billion jobs' stimulus.

More than half of it is a payroll tax cuts/credits (cuts into Social Security revenues) and an extension of unemployment benefits. Rest is for incentives to businesses to hire, and for infrastructure.

It is way too small to make a dent in the unemployment figures.

But that isn't even its biggest problem. The Tea Bagging Republicans will immediately oppose it. Negotiations will continue for weeks if not months, and Obama will cave in. What will pass is a much smaller package, which will look worse for having no effect at all, and taking too long. The Tea baggers will then insist that Obama was wrong, again, and therefore we have wasted more of our kids' future.

They'd be right.

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