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Obama’s 3 Rs: Plan for Roads, Rails and Runways

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Photo: ziflaw.com
Photo: ziflaw.com

President Barack Obama renewed calls for a $50 billion infrastructure initiative to repair roads, railways and airports as the unemployment rate remains stuck at 9.6 percent.

The plan, which would set up an infrastructure bank funded by ending particular tax benefits for oil and gas companies, could be the “antidote” for such stagnant employment numbers, according to The Washington Post.

“Nearly one in five construction workers is still unemployed and needs a job,” Obama said in remarks to reporters in Rose Garden, The Post reported. “And that makes absolutely no sense when so much of America needs rebuilding.”

In those same remarks, Obama said the jobless are ready to get to work, and the only thing lacking “is the political will.”

Obama first proposed the infrastructure spending on Labor Day, however, new reports by the Treasury Department and the Council of Economic Advisers have given the plan a new boost, Politico reports.

That report stated it was the “optimal time” to begin spending on infrastructure and public works projects, The Post reports.

The bipartisan duo of former Treasury Secretaries Sam Skinner and Norman Mineta last week released a report that called for the federal government to spend at least $134 billion for basic repairs on the nation’s infrastructure.

But The Post reports that higher figure is unlikely because of concerns over the federal deficit ahead of the congressional mid-term elections.

1 Comment

  1. Equation :

    Depression : New Deal = Great Recession : Stimulus Package (Groundwork) + Incomplete Energy Independence or A Jobs law

    The Problem = The destructive war & military waste + Stimulus Package
    Therefore = Incomplete Energy Independence or A Jobs law – The destructive war & military waste
    Criticism = Stimulus Package (Groundwork)
    Conclusion = Gambling on Iraq Oil + weapon sell Again + Double-dip Depression

    Cure = Slashing the destructive war & military waste + Completion of Energy Independence or A Jobs law

    Anger at These :
    Gambling on Iraq Oil Again : A Drop in the Bucket Vs. Growing Population & Demand World-wide. The Age of Cheap Oil = A Thing of the Past.
    1. At this time, it looks like the oil-friendly country is gambling on Iraq oil again, citing a big government & deficit, and therefore the world-wide stimulus package worth trillions and health care reform in America are now at stake.
    2. Of the money by the money for the money is getting a society nowhere near prosperity.
    Gambling on party of “no idea” is sure to be much like Throwing an Egg of Economy Against a Rock.
    The outcome of government take-over :
    1. In banking industry, the result of government take-over is big bonus parties backed by the tax-payer’s invaluable cash.
    2. In healcare reform, the outcome of government take-over is to dump ill children when needed most.
    3. In oil spill, the administration should be held responsible for its deregulation, urging a big government
    Chanting deficit :
    1. Amid chanting deficit, the same old failed policy.
    2. Amid chanting deficit, hands-off approach over huge trade deficit from oil money spill & trade imbalance with China from remorseless health care premium.
    3. Unfortunately, as a direct consequence of remorseless health care premium, numerous folks have no choice but to hang onto affordable offerings, since one in two households is said to face a hard decision between necessity & drug.
    4. Inaction cost in relation to health care reform totals $9trillion over the next decade.
    5. Over the next 10 years, total Bush tax cut costs will equal $3.9 trillion, …. the tax cuts would increase deficits by nearly $4 trillion between 2005 and 2014.
    The most critical debt : Personal Bankruptcy
    1. The current recession came from Personal Bankruptcy largely as a consequence of the relentless health care costs, pain at the pump, and the subsequent subprime mortgage crisis.
    Facig huge trade deficit from oil money spill & trade imbalance with China, the primary economic policy of previous administration was ” spending baby “to the great delight of republicans’ sponsors.
    2. By comparison, the recovered stock market value alone, around $1.5 trillion, is nearly twice as much as the stimulus package, set aside all the other benefits.
    As always, the republicans and unqualified media let folks locked in a box. ruling out the positive effects.
    The most promising deficit-cut of government : Slashing the destructive war & military waste
    1. Slashing the destructive war & military waste alone supposedly could be enough to balance the budget.
    Energy Independence : An Only Way to Desperately-Needed Job Growth
    1. My response to the question : where are jobs ?
    In the trade deficit, exactly in the severe and persistent oil money spill, taboo of ” do not add to the deficit” party.
    2. Under the existing lavish Bush tax cut for bonus parties, a sole job plan for the republicans, the country already saw millions of job cuts.

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