{"id":5804,"date":"2011-09-07T00:28:45","date_gmt":"2011-09-07T07:28:45","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=5804"},"modified":"2011-09-07T00:28:45","modified_gmt":"2011-09-07T07:28:45","slug":"will-300-billion-be-enough","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/09\/07\/will-300-billion-be-enough\/","title":{"rendered":"Will $300 Billion Be Enough?"},"content":{"rendered":"

I should have figured that it would be impossible to keep the lid on Obama\u2019s jobs plan until Thursday.  It appears that Obama will be proposing a $300 billion package, bigger than I had expected, but not as big as I had hoped.  Here\u2019s what we know.<\/font><\/p>\n

\n

\"7Jobs\"President Barack Obama plans to propose boosting job growth by injecting more than $300 billion into the economy next year mostly through tax cuts, infrastructure spending and direct aid to state and local governments<\/strong>. <\/p>\n

Obama would call on Congress to offset the cost of the short-term jobs measures by raising tax revenue in later years<\/strong>. This would be part of a long-term deficit reduction package, including spending and entitlement cuts<\/strong> as well as revenue increases, that he will present next week to the congressional supercommittee charged with finding ways to reduce the nation\u2019s debt. <\/p>\n

Almost half the stimulus would come from tax cuts, which include an extension of a two percentage point reduction in the payroll tax paid by workers due to expire Dec. 31 and a new decrease in the portion of the tax paid by employers. <\/p>\n

Obama is set to lay out his plans in a Sept. 8 address to Congress as unemployment remains at 9.1 percent more than two years after the recession\u2019s official end. Payroll growth stalled last month\u2026 [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <Bloomberg<\/a>><\/p>\n

Keith Olbermann covered the jobs crisis and discussed Obama\u2019s plan with Sam Stein on Countdown<\/a>.<\/font><\/p>\n