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Title: President Obama pushes to extend payroll tax cut
Source:
[None]
URL Source: http://www.politico.com/news/stories/0611/56833.html
Published: Jun 14, 2011
Author: CARRIE BUDOFF BROWN
Post Date: 2011-06-14 01:11:02 by socalv8
Keywords: obama, economy, tax cutter
Views: 369
Comments: 6
President Barack Obama signaled Monday that a deficit-cutting package should include an extension of the one-year payroll tax cut for workers, saying any effort to slash government spending must be coupled with targeted investments. Obama traveled to this key state in the 2012 election as part of a two-day swing that includes stops in Florida and Puerto Rico — a trip that appears designed to show the president is proactive on the economy as his job approval ratings decline and the Republican presidential contenders hammer his record. With Congress unwilling to pass another significant stimulus bill, Obama pushed more modest measures Monday aimed at addressing rising unemployment. He convened a meeting of his Council on Jobs and Competitiveness, a group of CEOs from large companies such as Comcast, GE and DuPont, and heard recommendations on ways to jolt the sagging economy. Obama also toured Cree Inc., a manufacturer of clean energy lighting that the president hailed as a success that can be replicated across the country. And Obama touted new public-private partnerships the administration is pursuing, including a push to train 10,000 new engineers every year. Obama walked a rhetorical fine line throughout his visit, trying to project optimism about the economic recovery since the 2008 crash while not appearing out of touch with millions of unemployed workers. Republicans have hammered him for recently describing a slowdown in the economy, following the May jobs report that showed the unemployment rate rising to 9.1 percent, as a “bump in the road.”
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#1. To: All (#0)
May the next Pres please have some executive and/or economic experience/sense?
Tax cuts/reductions/credits that target demand side have always proven to be more effective.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" How about spending cuts? Is that the "reductions"?
Spending cuts aren't directed at the demand side of the economy. Right now, the proposed spending cuts, because they are targeted almost soley at transfer payments, do nothing but take money out of the economy...it's why I have been stating that a Keynesian solution in this instance has been wholly impossible.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" You just went over my pay grade.
Bernanke was foolishly tightening interest rates during a period of asset deflation. So yea, he gets my derision for that. Also, banks should not be getting paid interest on their excess reserves. That's $3.65bln a year....
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
Obama college theories are tried and untrue. I'm glad he's reaching for tax cuts, but he really is clueless.
#2. To: socalv8 (#1)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#3. To: war (#2)
#4. To: socalv8 (#3)
(Edited)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#5. To: war (#4)
Watching Bernanke...shouldn't we ALL be hating him by now? Seems to have failed, no?
#6. To: socalv8 (#5)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
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