Obama To Seek $450B Jobs Plan - Jared Bernstein says liberals will like what they hear - Excerpts

[jefferson_dem]

The AP, citing sources, reports that President Obama will seek a $450 billion jobs plan with deeper payroll tax cuts.

http://livewire.talkingpointsmemo.com/updates#159

Reasons for optimism about Obama’s jobs speech?
By Greg Sargent

Former White House adviser Jared Bernstein was one of the most liberal of Obama’s economic advisers. Since leaving the administration has been one of the most persistent critics of the Dem decision to prioritize deficit reduction over job creation, arguing that it has been not only bad policy, but bad politics as well, trapping Dems in a Beltway Deficit Feedback Loop that strangled their ability to make the case for meaningful job creation policies.

So it’s good to hear that Bernstein, who has been privately briefed on what Obama will say tonight, is feeling optimistic that liberals will like what they hear, both in policy and political terms.

“I’m looking for the president to lay out a plan that’s big enough to truly move the nedle on the unemployment rate, and to argue that given the economic emergency we face, this is something partisans should support,” Bernstein told me a few moments ago. “The plan seems me to meet both of those criteria in flying colors.”

Bernstein said that based on what he’s been told, he expects the size of the plan to be something “considerably” higher than expected, or considerably higher than $300 billion, or 2 percent of GDP. And indeed the Associated Press is reporting that Obama will propose a $450 billion plan tonight.

Bernstein said he’s confident the plan will be “large enough to get people to work very quickly.”

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“I’m optimistic that once people who were worried that this plan wouldn’t be large enough get a look at it, they will be pleased by its magnitude,” he concluded. “They will be happy to hear the president lean so heavily into job creation.”

http://www.washingtonpost.com/blogs/plum-line/post/reasons-for-optimism-about-obamas-jobs-speech/2011/03/03/gIQAHZQzCK_blog.html

EXCERPTS BELOW:

President Obama on Thursday night will appeal to Congress to "stop the political circus" and help him get the economy moving again with a package of spending and tax cut initiatives expected to cost $447 billion.

"The people of this country work hard to meet their responsibilities," Mr. Obama will say before a joint session of Congress, according to his prepared remarks. "The question tonight is whether we'll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy."

Calling his economic package the "American Jobs Act," Mr. Obama plans to tell the legislature that Washington can't turn the economy around itself, but it can provide a boost to the private sector. The bill "will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services," Mr. Obama will say.

The president will tell Congress, "you should pass this jobs plan right away," arguing that his plan is fully comprised of ideas that have in the past gained bipartisan support. Furthermore, every idea in his bill will be paid for, he'll say.

http://www.cbsnews.com/8301-503544_162-20103581-503544.html

[DJ13]

1. Payroll tax cuts dont really help those who need the most help

Those who arent making much dont get much out of those kinds of tax cuts.

He needs to stimulate the bottom incomes more than the upper middle class.

[DemocratSinceBirth]

2. He Should Make It As Big As Needed

Because the Republican(t)s aren't going to pass it anyway.

[Tarheel_Dem]

3. "liberals will like what they hear". Jared B, the eternal optimist.

We'll have to wait and see how far the goal posts will be moved post speech. ;)

[DJ13]

4. Thats why they now make inflatable goal posts

Easier to move.