Monday, June 11, 2012

Obama revives failed economic policies after bad week

President Barack Obama, coming off a week filled with bad news, has returned to a familiar tactic: Blame Congress and others for the struggling economy.
As White House press secretary Jay Carney relayed on Twitter, the president is urging Congress to “stop dithering and pass the rest of his American Jobs Act—to put more than 1 million back to work.”
“The other side is not going to provide new ideas,” Obama said at a fundraising event in Los Angeles on Thursday.
“Instead of just talking about job creators, Congress should put their money where their mouth is,” he said hours later in Las Vegas.
Yet critics say the American Jobs Act, which Obama introduced in September, offers little in terms of “new ideas.”
The bill is a rehash of the $825 billion stimulus package of 2009 that a majority of Americans believe did little to help the economy.
“Calling it a ‘jobs act’ doesn’t make it so,” Sen. Ron Johnson (R., Wis.) told the Washington Free Beacon. “What it is, is another budget buster. We only need to look to Europe to see how effective deficit spending is.”
“It is just more stimulus,” said Grover Norquist, president of Americans for Tax Reform. “If Obama was honest and said ‘I want to do that again,’ people would laugh. That’s why he’s calling it a ‘jobs bill’ this time.”
The legislation, portions of which Congress has already passed, proposes to spend $450 billion in one year, making it more expensive in annual terms than the original stimulus, which was allocated over two years.
The bill calls for a variety of new spending measures, such as $50 billion for transportation projects—including $4 billion for high-speed rail and $105 million for the “Puerto Rico highway program”—$35 billion for state and local government employees, $15 billion for construction projects, and $25 billion to modernize public schools with green technology.

Read more: http://freebeacon.com/same-as-it-ever-was/

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