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Old 09-06-2010, 08:04 AM  
Stinger Stinger is offline
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$50 Billion More In Infrastructure Spending In The Works.......

Obama calling for more infrastructure spending

Sep 6, 8:33 AM (ET)

By JULIE PACE


WASHINGTON (AP) - Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation's roads, railways and runways that would cost at least $50 billion.

The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.

While the proposal calls for investments over six years, the White House said spending would be front-loaded with an initial $50 billion to help create jobs in the near future.

The goals of the infrastructure plan include: rebuilding 150,000 miles of roads; constructing and maintaining 4,000 miles of railways, enough to go coast-to-coast; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a new air navigation system designed to reduce travel times and delays.

Obama will also call for the creation of a permanent infrastructure bank that would focus on funding national and regional infrastructure projects.

Administration officials wouldn't say what the total cost of the infrastructure investments would be, but did say the initial $50 billion represents a significant percentage. Officials said the White House would consider closing a number of special tax breaks for oil and gas companies to pay for the proposal.

Obama made infrastructure investments a central part of the $814 billion stimulus Congress passed last year, but with that spending winding down, the economy's growth has slowed. Officials said this infrastructure package differs from the stimulus because it's aimed at long-term growth, while still focusing on creating jobs in the short-term.

In a Labor Day interview on CBS'"Early Show," Labor Secretary Hilda Solis said the plan Obama was to unveil Monday would "put construction workers, welders, electricians back to work ... folks that have been unemployed for a long time."

With the unemployment rate ticking up to 9.6 percent, and polls showing the midterm elections could be dismal for Democrats, the president has promised to unveil a series of new measures on the economy.

In addition to Monday's announcement in Milwaukee, Obama will travel to Cleveland Wednesday to pitch a $100 billion proposal to increase and make permanent research and development tax credits for businesses, a White House official said.

While the idea is popular in Congress, coming up with offsetting tax increases or spending cuts has been a stumbling block. Similar to his proposal to pay for the infrastructure investments, Obama will ask lawmakers to close tax breaks for oil and gas companies and multinational corporations to pay for the plan.

Other stimulus measures the administration is considering include extending a law passed in March that exempts companies that hire unemployed workers from paying Social Security taxes on those workers through December. Sen. Chuck Schumer, D-N.Y., has proposed extending the exemption an additional six months.

Obama is also continuing to prod the Senate to pass the small business bill that calls for about $12 billion in tax breaks and a $30 billion fund to help unfreeze lending. Republicans have likened the bill to the unpopular bailout of the financial industry. And the president wants to make permanent the portion of George W. Bush's tax cuts affecting the middle class.

Wary of the public's concern over rising deficits, the administration insists a second stimulus plan, similar to last year's $814 billion bill, is not in the works.
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Old 09-06-2010, 08:24 AM   #2
HonestChieffan HonestChieffan is offline
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Old 09-06-2010, 08:55 AM   #3
Ebolapox Ebolapox is offline
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ya know, if we ACTUALLY had the cash for this, I'd consider this a good idea (our infrastructure is a joke in a lot of ways). since we obviously don't, it's ****ing stupid.
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Old 09-06-2010, 09:49 AM   #4
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I read about that earlier. Barry is a complete moron.
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Old 09-06-2010, 10:02 AM   #5
petegz28 petegz28 is online now
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I thought the Stimulus was supposed to do all this? Is the OP admitting the Stimulus was spent with little if any long term vision???? Color me shocked!
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Old 09-06-2010, 10:28 AM   #6
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Something like $24 million of the last stimulus pork orgy is being spent on an 8 mile stretch of new interstate that I drive every day.

They've had the concrete on one side completely torn out since July 1st. That's 9 weeks ago. Not only have they not poured one square inch yet, they haven't even begun constructing the machine they use to make concrete.

9 F'ing weeks.

Yeah Obama, you're brilliant. 50 billion more is just what we need.

Idiot.
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Old 09-06-2010, 10:34 AM   #7
Wyndex Wyndex is offline
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Jesus *facepalm*, thought we did this with that Road Recovery and Reinvestment bullshit going on in JOCO right
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Old 09-06-2010, 10:42 AM   #8
HonestChieffan HonestChieffan is offline
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Cleveland got sidewalks.

Thats Cleveland Missouri.

Look that up under pissed money away for Ike Skelton Votes.
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Old 09-06-2010, 10:46 AM   #9
petegz28 petegz28 is online now
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Obviously his answer to everything is spend money we don't have.
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Old 09-06-2010, 10:48 AM   #10
HonestChieffan HonestChieffan is offline
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Quote:
Originally Posted by petegz28 View Post
Obviously his answer to everything is spend money we don't have.

On Union projects....while wondering why small business is not hiring people madly....
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Old 09-06-2010, 11:03 AM   #11
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Quote:
Originally Posted by HonestChieffan View Post
On Union projects....while wondering why small business is not hiring people madly....
one reason small businesses are not hiring people madly is that there is not much business these days...

the recession has depressed small businesses, along with most other segments of the economy, whodathunkit?
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Old 09-06-2010, 11:04 AM   #12
Saul Good Saul Good is offline
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Quote:
Originally Posted by mlyonsd View Post
Something like $24 million of the last stimulus pork orgy is being spent on an 8 mile stretch of new interstate that I drive every day.

They've had the concrete on one side completely torn out since July 1st. That's 9 weeks ago. Not only have they not poured one square inch yet, they haven't even begun constructing the machine they use to make concrete.

9 F'ing weeks.

Yeah Obama, you're brilliant. 50 billion more is just what we need.

Idiot.
You mean it wasn't shovel-ready?
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Old 09-06-2010, 11:12 AM   #13
HonestChieffan HonestChieffan is offline
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Quote:
Originally Posted by go bowe View Post
one reason small businesses are not hiring people madly is that there is not much business these days...

the recession has depressed small businesses, along with most other segments of the economy, whodathunkit?


Nawwwwww say it aint so
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Old 09-06-2010, 12:12 PM   #14
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Great news. Should have done this a year ago.
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Old 09-06-2010, 12:14 PM   #15
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Great news. Should have done this a year ago.
Don't you mean a trillion dollars ago?
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