Thursday, September 8, 2011

Decoding the Jobs Speech

"My Plan gives a chance to display
We're surmounting the partisan fray;
Though symbolic in scope,
It may offer up hope,
So I'll press you to pass it today."

President Barack Obama gave a ringing address to a joint session of the US Congress to introduce his $447 billion American Jobs Act. The President's plan - a mixture of payroll tax cuts, aid to states, tax incentives to hire, and infrastructure spending - was tepidly received by many economists (too little spending) and most Republicans (too much spending). However, after the politically damaging brawl over the debt ceiling, even House Majority Leader Eric Cantor (R, VA) was careful to offer lukewarm cooperation, so as not to convey more "partisan gridlock".

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