The 2011 Obama Jobs Bill

Just days after the August jobs report showed zero growth, President Obama unveiled his idea for a $450 Billion jobs bill. He's calling for Congress to pass this bill right away. The bill includes the usual suspects, more spending on infrastructure and schools (using their code word investment). It's exactly the kind of thing you would expect to hear from a CCCP party leader from the 1960's. But the scariest part of his suggested plan is a further cut to the social security tax paid by employees and employers to 3.1%. That tax had already been dropped to 4.2% from 6.2% and is scheduled to return by the end of this year. All while our Social Security system is already falling short of cash and GOP presidential candidates are taking heat for calling it a ponzi scheme.

HELLO!!! Does anyone remember the Stimulus plan, $750 Billion dollars. That didn't do jack, but now President Obama is calling for another immediate $450 Billion to make an impact by the end of the year. Does this make sense to anyone? (Besides the folks at MSNBC or the Huff Post/Daily Kos) Our Economy is in the toilet because our private sector is stagnant, not because the Government isn't spending enough money. Until they relieve the private sector from unnecessary and burdensome regulations and taxes, the economy is not going to improve. Job creators will not invest if they have no idea what to expect in the near future.

Of course many already suggest that this plan is just one more pawn in the the Washington Political game since Obama knows the House will likely not move forward on such a plan. He's banking on the Hope that many will put their reelection in front of the demands from constituents. Only time will tell but John Boehner has already proven himself weak and cowardly so I have no doubt Obama's plan might work after all.

We'll see.

Cheers,

Mike