According to ABC's Geroge Stephanonpoulos, the president's new economic plan for jobs will include three major components.
- Tax Relief "for companies that create jobs and hire new workers."
- Infrastructure Investment in "clean energy and new construction projects to build schools and transportation."
- Assistance for Long Term Unemployed that will feature a program like Georgia's to give "unemployed Americans eight weeks of training at a local company while allowing them to still collect their unemployment benefits."
Stephanopoulos also adds that the president's will speech will include "a proposal for how the government will pay for these initiatives without adding to our debt."
All this shows how deep in a hole the president is, and yeet he's still digging. The president's problem is that to revive the economy he really needs to undo everything he has done. To get the economy going again, as Tony Blankley writes, he really needs to choose the "nuclear option" and steal all the Republican ideas.
He could decide to embrace all the major Republican, Tea Party free-market ideas - marginal business and personal tax-rate cuts (leading to a net tax cut); big discretionary spending cuts to be implemented before the 2012 election; genuine long-term reductions in Medicare, Medicaid and Social Security costs written into law now; major deregulation, including Environmental Protection Agency rules, Dodd-Frank financial burdens and nanny-state consumer regulations; unlimited oil- and gas-drilling and shale-fracking authorization; permanent extension of the George W. Bush tax cuts; repeal of the double tax on American corporations’ foreign profits; limits on unemployment insurance extensions; and withdrawal of his big union initiatives, such as the National Labor Relations Board’s opposition to the Boeing Co. building a factory in South Carolina.
Imagine that! Then he would have stolen the Republicans' clothes.
Republicans, of course, would vote for all of them, as they are Republican positions. The Republican candidate for president as well as GOP congressional candidates would be left with almost nothing (except opposition to Obamacare) on the economic front to oppose in the president’s policies.
You might ask: well why not? The answer is that if the president did all that stuff he would lose his Democratic base. All those policy ideas are poison to the average New York Times reader and NPR listener. And as for the average MSNBC watcher and "progressive:" To them such a program would be a "sellout." What's the point of being a liberal if you give it all away just to create jobs for the American people and profits for the American entrepreneur?