US President Barack Obama, looking to jolt both the US economy and his presidency, proposed a US$447 billion plan for creating jobs in a high-profile, nationally televised speech before the US Congress late on Thursday.
Obama, facing a tough re-election fight next year, looked to stem the eroding confidence in his leadership as the mood of Americans darkens and emboldened Republican presidential challengers assail his record.
The newest and boldest element of Obama’s plan would slash the payroll tax for the Social Security pension program both for tens of millions of workers and for employers, too. It also includes US$105 billion in public works projects and the renewal of US$50 billion in unemployment benefits for about 6 million Americans at risk of losing unemployment insurance.
Obama did not venture an estimate as to how many jobs his plan would create. He promised repeatedly that his plan would be paid for, but never said how, pledging to release those details soon.
“This plan is the right thing to do right now,” Obama said after a divided body rose in warm unison to greet him. “You should pass it. And I intend to take that message to every corner of this country.”
His aim was to pressure Congress to act and to share the responsibility for fixing the economic mess that is sure to figure in next year’s elections. For every time he told lawmakers to “pass the bill,” which he said repeatedly, Democrats cheered while Republicans sat in silence.
Obama will likely have a hard time getting much of his plan through Congress. Republicans control the US House of Representatives and can use procedural tactics to block bills in the US Senate.
Even before the speech, the top Republican in the Senate, Mitch McConnell, described Obama’s expected ideas as retreads, saying: “This isn’t a jobs plan. It’s a re-election plan.”
Obama looked to put himself above the partisanship asking “whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy.”
However, his speech offered some potential to boost his own standing. By challenging Republicans on their own turf, Obama could show the voters watching at home, particularly independents, that he is not the one to blame for inaction.
In his speech, Obama defended the role of government and, without mentioning it by name, took on the “Tea Party” movement.
“This larger notion that the only thing we can do to restore prosperity is just dismantle government, refund everyone’s money, let everyone write their own rules and tell everyone they’re on their own — that’s not who we are,” he said. “That’s not the story of America.”
Obama remains personally popular and a formidable campaigner, but his approval ratings keep tumbling and no incumbent president in recent history has won re-election with the unemployment rate anywhere near the current level, 9.1 percent.
About 14 million people are unemployed. There is just one job opening available for every four jobseekers, on average, in the richest nation on Earth.
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