Wednesday, August 17, 2011

Associated Press: Mark Smith- 'President Obama Plans Major Jobs/Debt Speech'

Source:Associated Press- President Barack H. Obama (Democrat, Illinois) talking about the American economy, in Atkinson, Illinois.

"President Barack Obama is reportedly readying a major address next month to outline a broad, new initiative to attack sluggish job growth -- and the nation's long-term debt. (Aug. 17)" 

Now that President Obama has finally put the debt ceiling debate behind him and round one of deficit reduction is finished as well, it's time for the President to focus on the bad economy and putting people back to work. Especially with the Republican primaries coming up with all of the Republican candidates putting their attention on the President and the economy. And trying to put or keep the President on the defensive, which is what Republicans have done a very good job of this summer. 

It's time for President Obama to punch back and become a counterpuncher. (To use a boxing analogy) But counterpunch in a way to take the momentum back put the Republican Party, especially the House GOP Leadership on the defensive and bring them to the table to talk about actual job creation and not just deficit reduction. 

President Obama doesn't have to be the chief partisan for the Democratic Party, something he's not that good at and very comfortable in the first place. But to put ideas on the table in a package that he sends up to Congress and at least forces the Republican House to respond to it and maybe offer a counter proposal. And something that the Democratic Senate would take up and at least force the Senate GOP Leadership to try to block it. 

But for this to happen President Obama needs a job plan thats real and not just about goals but about solutions that focus's on putting people back to work and can do this in several areas that would not only benefit the economy but help him achieve is goal of deficit reduction in as the President says in a balance approach. That encourages economic growth that would lead to job growth that would put people back to work. That would help bring down our debt and deficit with more people spending money and paying taxes and collecting less public assistance, but instead paying into these social insurance programs which would make them easier to finance in the future. 

We'll never pay down our debt and deficit or bring them under control, without strong economic and job growth with wages going up substantially. What I believe the President should focus on in his jobs package is infrastructure spending to rebuild our crumbling infrastructure. With a National Infrastructure Bank, the Senate already has a bipartisan bill to accomplish this. A Comprehensive national energy policy that would promote all of our natural resources, creating new strong energy industries that would lead to well paid jobs just like with a NIB. Tax cuts to encourage spending in the economy, 

I believe the main reason for our weak economic and job growth right now is because of the lack of consumer spending. And something like a payroll tax cut could help with this and then more help for the long-term unemployed. Assistance for then to go back to school and get retrained to get a job in another field, as well as tax credits to business' that hire these people. Like allowing business's to deduct the first year of these workers salary's from their taxes. And then pass the three trade deals that are stuck in Congress, Central America, Columbia, and Korea. 

For the President to get reelected, he has to focus on the economy and put all of his attention there, not just for the sake of his reelection but the country as well. And hoping that the economy gets better in time for Election Day 2012 won't get it done. He needs a plan to make this happen instead.

Liberal Democrat

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