President Obama Presents His Jobs Plan

As anticipated, President Obama is proposing using some of the $200 billion in TARP money that has already been repaid by banks to fund infrastructure improvements that would both provide jobs and fix badly outdated portions of our transportation and information infrastructure. In addition, the President proposed tax cuts for small businesses and individual tax cuts for retrofitting homes to make them more energy efficient. He’s also preparing to ask Congress to further extend unemployment benefits for those who have been out of work the longest and to use federal money to to help laid off workers keep their health insurance.

Despite calls for tax cuts for both small businesses and individuals, Republicans in Congress are attacking Obama’s message with gusto. Congressman John Boehner of Ohio, the Republican Leader in the House of Representatives, declared the president “out of ideas and out of touch.”