09 Sep '11, 10am

The Hits and Misses in Obama's Jobs Speech

The Hits and Misses in Obama's Jobs Speech

Last night, President Obama unveiled his much-anticipated program, the $447 billion American Jobs Act , to jumpstart the faltering American economy. Here's my reaction. I grade the proposal a solid B+. The President didn't fly me to the moon, but he laid out a balanced and pragmatic program of tax cuts and federal spending that, if passed by Congress, will give the American economy a boost -- albeit possibly not as big a boost as it needs. The Pluses The President's proposal is carefully calibrated to the art of the possible. The American Jobs Act is balanced between tax cuts to satisfy Republicans ($245 billion) and spending programs for Democrats ($202 billion). Crowd-pleasing measures are emphasized throughout the package. On the tax cut side, businesses and many consumers will no doubt welcome $240 billion in payroll tax reductions. Additional tax incentives proposed i...

Full article: http://www.greenbiz.com/blog/2011/09/09/hits-and-misses-o...

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