Posted on 10/03/2009 4:27:36 AM PDT by Son House
"I'm working closely with my economic advisors to explore any and all additional options and measures that we might take to promote job creation," Obama said after the Labor Department reported that 263,000 Americans lost jobs in September and the unemployment rate rose to 9.8 percent.
Embedded in those numbers was this sobering statistic. The number of Americans unemployed for 27 weeks increased by 450,000 and now totals 5.4 million.
The White House may soon ask Congress to extend three parts of the original $787 billion stimulus law signed in mid-February.
* Extend the current $8,000 first-time home buyer tax credit beyond its scheduled Nov. 30 expiration date.
* Extend the current 65 percent subsidy through the COBRA program so jobless Americans can purchase health insurance for only 35 percent of the premium. After that, the government reimburses the provider for the remaining unpaid amount through a tax credit. The program, which provides nine months of this subsidized insurance coverage, is also due to expire on Dec. 31.
* Extend the full 79-week unemployment insurance package now available through the stimulus to laid of workers. The stimulus provided extended jobless benefits in high-unemployment states and tacked on a $25-per week stipend. Eligibility for extended benefits and the stipend expires on Dec. 31.
Congressional Democrats said talks on moving this type of legislation are "preliminary." But they are gaining velocity as the White House tries to cope with persistent unemployment and the political anxiety it has begun to generate among Democrats preparing to run for re-election in 2010.
Two White House officials adamantly denied a second stimulus is coming. But a senior administration official confirmed moves are afoot to extend three stimulus-created programs targeted at softening the blow of unemployment and boosting home sales.
(Excerpt) Read more at foxnews.com ...
Hopefully the idiots who voted for 0bama will wake up and realize that 0bama isn't stupid or unlucky, but rather he is purposefully doing everything he can to destroy the economy.
Again Obama demonstrates his naivete.
One cannot be "pro-jobs" while simultaneous being "anti-business" and "anti-rich folks".
Obama clearly has no idea where jobs come from...he apparently thinks they are created by the unions and government.
Get a frikken clue, Barky!
Typical Liberal:”My economic plan isn’t working, so lets do more of it”.
Please, will someone... ANYONE... ask this nitwit, narcisistic, clueless a$$ clown how ANY of these things will promote job growth!
I’ve noticed a trend among my Obamabot acquaintances - they often invoke WPA and CCC during discussions of the economy, and specifically, unemployment...
It hasn’t percolated to the surface at the ‘policy’ level of the Dem claque, but the groundwork is being laid down here in the weeds...
1)Cut Capital gains tax to 5% for the next 10 years.
2)Cut Corporate Income Tax to 15%
The same failed policies they've already tried.
That’s supply side economics. Neither party will even consider it.
Speaking of 1983, maybe they should look at what Reagan did to revive the economy back then.
The One and his minions know damn well all they have to do is cut taxes. This is just a game of theirs, act like you’re trying to help while actively destroying the country.
Do away with personal income tax and go back to raising revenue of taxes and tariffs of goods from overseas.
Job creation? why thats a NEW idea! Call it what it is planned welfare to keep the unemployed unemployed and under the administrations control. MOVING FORWARD AS SCHEDULED!
They are... looking at everything they did back in 1983 to stop him.
Extend the current 65 percent subsidy through the COBRA program so jobless Americans can purchase health insurance =
Take my earnings to buy health care for others
Extend the full 79-week unemployment insurance package = Pay people to not work
Brilliant ideas. We will recover in no time now.
Isn't it fun to point out that none of those government agencies did anything to actually grow the economy.
The lesson DumBO hasn’t learned is that sharing the wealth does not make everyone wealthy, it makes everyone poor. Read some Hayek and Hazlitt, ZerO.
If big government could fix the economy, we’d never have recessiona. If big government could fix unemployment, we’d have 100% employment.
But it can’t and all it’s doing is sucking money out of the private sector to hand out patronage jobs. From the resources used to create ONE job in the public sector, ONE AND A HALF jobs could be created in the private sector. And the private sector jobs would be long lasting and based on market demands, rather than just government make work ones.
This administration is spending us into a real mess.
The only good that will come from it is it will prove once and for all that SPENDING money you don't have is not the way to get us out of a recession.
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