The American Jobs Act

You get to me

09-09-11

Last night, Obama gave his address to Congress and proposed a bill called the American Jobs Act, as i'm sure many of you have heard. For those who don't know, it's a $447 billion package that cuts taxes for payrolls, small businesses, and every company that hires new workers.

What are your thoughts on it? It may be an obvious reelection ploy, but it's a good one at that. If Congress doesn't pass it they're gonna look like even bigger chumps.

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Yoda

Administrator

09-09-11

I don't think they'll look like chumps unless they do absolutely nothing. They'll come back with a modified plan that keeps some of these elements and cuts others, there'll be some back and forth, and they'll eventually pass something. Some of the proposals are the kinds of things most Republicans should like (though I'll have to look closer to verify that), so I think something will get through, but it won't be exactly what the President proposed.

HitchFan97

You get to me

09-09-11

You're probably right. We'll just have to wait for several months and watch while the media covers all the bickering.

will.15

Semper Fooey

09-09-11

It's smart politica. Bush Senior got into trouble during a recession because he proposed and did nothing. There is really not much Obama or anyone else can do at this stage that is going to fix things short term except wait the thing out. I doubt very much we are double dipping. It is just going to be a very slow recovery. But you got to look concerned and propose stuff.

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wintertriangles

It's all painted cold

09-09-11

The Super Committee isn't gonna be able to do this, I can't believe he has the balls to say it's already paid for

Yoda

Administrator

09-09-11

Yeah, it definitely isn't. Some members of the Super Committee have complained publicly that this proposal makes their jobs harder. Which it does.

will.15

Semper Fooey

09-09-11

It doesn't make their job harder. They can just ignore it if they want. Some of the Democrats there were already planning to propose job creation program spending anyway.

Yoda

Administrator

09-09-11

They can ignore it technically, but politically they have to account for it, and that's how it makes their job harder: politically. Particularly if (read: when) it's demonstrated that--surprise!--it actually will cost something.

Powdered Water

Parm A Shaun

09-09-11

I hope this means that I get to pay more taxes. I just love those.

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wintertriangles

It's all painted cold

09-09-11

Originally Posted by will.15

It doesn't make their job harder. They can just ignore it if they want. Some of the Democrats there were already planning to propose job creation program spending anyway.

Because they don't want to do anything unless a few billion goes up in flames for some reason

will.15

Semper Fooey

09-09-11

Originally Posted by Yoda

The whole process is politics and it was never going to be easy. I say let the stalemate begin with all that military spending slashed. Then maybe we can out of that firigging Iraq.

DexterRiley

Keep on Rockin in the Free World

09-09-11

military spending slashed.

thats a good one.

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will.15

Semper Fooey

09-09-11

There are supposed to be automatic cuts if they can't agree and military spending gets it good.

I don't think these clowns can agree what to order for lunch.

Yoda

Administrator

09-10-11

Originally Posted by DexterRiley

military spending slashed.

thats a good one.

We've already done it; it was cut by $350 billion as part of the debt ceiling deal.

DexterRiley

Keep on Rockin in the Free World

09-10-11

We've already done it; it was cut by $350 billion as part of the debt ceiling deal.

My understanding was 350 billion to be stretched over 10 years, though no specific programs or timetables for reduction have actually been laid out. Its just a number they pulled out of their bums and attached it to a long term because it sounds juicy.

This was what i was referring to in responding to Will though :

GOP vows to block military spending cuts
US Republican legislators have vowed to kill a second round of military spending cuts over fears that it would threaten the country's defense infrastructure.

The Republican-dominated House of Representatives has warned that it will oppose a second round of almost $500 billion in military spending cuts, which would cut the defense budget by $350 billion over 10 years, Reuters reported.

The US House of Representatives passed a last-ditch bill on Monday, August 1, to raise the federal debt ceiling by up to $2.4 trillion, which also calls for slashing the country's deficit by $2 trillion over the next decade.

According to the White House, a second round of cuts will have to be introduced unless new legislation is passed that enforces spending reductions elsewhere.

With the prospects of the Pentagon facing a dramatic downsizing, the Republican lawmakers have voiced concerns that cuts in defense spending could spark a security crisis.

The deficit reduction deal threatens to "destroy our nation's defense infrastructure" at a time of growing insecurity, said Republican Senator Lindsey Graham, a member of the Armed Services Committee.

Representative Howard McKeon, Chairman of the House Armed Services Committee, also added his voice, pointing out that "There is no scenario in the second phase of this proposal that does not turn a debt crisis into a national security crisis.�

However, Republican House Speaker John Boehner defended the bill, noting that cuts in military spending are inevitable.

US senior military officials had earlier warned that major cuts would require fundamental changes to US military strategy.

The US military budget accounts for approximately 40% of global arms spending and is over six times larger than the military budget of China, the second-greatest military spender in the world.

Washington has reportedly spent over $1 trillion since 2001 on its wars in Iraq and Afghanistan.

Recently a Press TV poll found that �ending wars in Afghanistan, Iraq and Libya as well as reducing military spending� are the best ways for the US to reduce its 14-trillion-dollar-plus debt.

http://www.presstv.ir/detail/191925.html

back to the jobs bill ..i found this to be a decent breakdown (from a progressive POV ):

Yoda

Administrator

09-10-11

Yup, it's over 10 years. That's still a pretty significant drop, particularly given that I've been hearing for years that we'll never cut it at all. And, as Will says, we're looking at more than half a trillion more if the Super Committee can't come to an agreement.

Also, the nominal measurement of military spending never made a lot of sense to me. When measured relative to the size of our economy, it's not that big at all. Here are a series of clever little graphs to illustrate the point. They can be found in an interesting TED talk about new ways of displaying information, too.

DexterRiley

Keep on Rockin in the Free World

09-10-11

Yodes, if a republican wins the whitehouse within the next 10 years, do you honestly believe the terms of the deal will be honoured?

Yoda

Administrator

09-10-11

I'm not sure if I think any of the spending cuts will be honored. I don't like the way the deal was put together at all. But there's a chance of it and I think that represents a willingness on the Republican side to cut defense spending when times are tough. There were rumblings about it even before this, so I think they're perfectly willing to do it if the economy continues to struggle. I don't think they'll specifically block it unless the rest of the spending fails to materialize, though, or if the economy improves dramatically.

DexterRiley

Keep on Rockin in the Free World

09-10-11

Times have to be tough to do the right thing?

What exactly is America so afraid of that it thinks it needs 6x the military might of the next most powerful military nation?

honeykid