Tonight the President spoke in front of a joint session of Congress to discuss his new Job Creation bill. His first few minutes were about the hard working individuals who believed in the American Dream with good jobs, good benefits and the ability to raise a good family.
“The people of this country work hard to meet their responsibilities” he stated as he added Congresses inability to meet theirs. “We can make a difference” he stated. The American Jobs Act is where that difference is. Everything in the bill will be paid for as President Obama emphasized to those in the audience.
Incentives for employers are contained in this Jobs Act. If this bill passes, taxes will be reduced for businesses that hire new employees through payroll taxes. Taxes will be reduce to incentives employers to create more jobs. Business will receive a $4,000 tax credit when dealing with the unemployed and hiring.
If this bill passes infrastructure can be rebuilt with more construction workers returning to work. Millions of private construction firms are ready to repair and modernize our cities bridges and schools.
No more earmarks or boondoggles to stop the waste within the Halls of Congress. Pass this bill and we can grow once again spending where we need to spend.
Pass this jobs bill and we can put teachers back to work and give children the education they need and deserve. We need to give our children hope for their future; with an education they can get summer jobs.
Pass this jobs bill and unemployment benefits will be extended.
The President mentioned that so in Congress vowed to not raise taxes as they campaigned for office. Now is not the time to raise taxes on the middle class.
The way he pays for this jobs bill is to decrease the amount of funds in some areas of spending and increase taxes on those rich people who need to pay their ”Fair share.”
President Obama mentioned reforming Medicare to strengthen it so those who have paid into it over the past 50 years will still receive the benefits.
The applause was loud and thunderous as they heard the speech stating we will sell more American problems, we will create trade agreements so we can produce more here to sell abroad. We need more manufacturing here in America, this is true but without trade agreements we can not increase output.
Finally the tax code needs to be reformed also as stated by the President. There are too many loopholes for the rich. Warren Buffet has stated according to the President he doesn’t pay enough in taxes and wants Congress to fix that problem.
The President did state he agreed there was waste that needed to be addressed and he would “Weed it out”. In the same breath he stated he would look at burdensome regulations to weed them out too.
So as we have stated in the past few weeks this speech was basically the same speech we have heard time and again. There is nothing new in this speech that we haven’t already heard. The president still is a great orator however you can only call out “The sky is falling” so often before the American listener becomes tired of hearing the same old rhetoric day after day. He wants to spend 450 billion dollars on programs the stimulus was suppose to address two years ago. Yes, it is more of the same.
The major problem we have with Congress with spending is the fraud and waste within each bill where money is spend and no one is accountable for how it is spent. We have audit after audit that finds items selling to our Defense Department 50 times, 100 times over the actual cost of the product.
We have fraud within our food stamp program all across the nation where the Department of Justice stings businesses and individuals that are scamming our system for hundreds of thousands of dollars in each city if not in the millions. One example is DetroitMichigan; the sting operation netted 1.5 million dollars in fraudulent activity. Read more here.
The solution is not to raise taxes on the so called rich, the solution is to cut the fraud and waste so we have a net savings of hundreds of billions of dollars that could go to reduce our national debt and stop budget deficits. The solution is to pass a balanced budget amendment so we will never own a 14.6 trillion dollar national debt because Congress can not stop spending due to their interest in getting re-elected.