President Obama took center stage in the House of Representatives Thursday evening to deliver his much anticipated speech about job creation. With cadences and rhythms that gave it the distinct air of a stump speech rather than a policy address, the President promised that his $450 billion or so “American Jobs Act” would do what’s needed right now to help put people back to work.
There were even a few specifics, such as cutting the payroll tax in half, offering tax credits for business that hire workers or give them raises, and additional credits if they hire people who’ve been out of work for six months or more. And businesses could continue to deduct the costs of new investment – which presumably means an extended credit for new corporate jets, too.
It wasn’t all targeted tax cuts. There’s spending as well – for planes, trains and automobiles. But he was clear that there would be no earmarking, boondoggles or “Bridges to Nowhere.” He promised to open the federal spigots to fund school construction, a point on which he gave more specifics than any other in his talk (windows and roofs would be repaired, high speed Internet connections put in place, science labs built). And he was keen to let “responsible homeowners” know that the federal government would help them refinance their homes. Irresponsible homeowners were left hanging.
But how to pay for all this? That’s where the president hit his campaign stride, recycling familiar bromides on eliminating tax breaks for millionaires, billionaires, oil companies, and somehow getting Warren Buffett to pay more tax than his secretary. The President even managed to take an oblique swing at Grover Norquist’s no tax hike pledge by urging Republicans to cut loopholes, and gimmicks in the tax code so he could lower the overall corporate tax rate.
But the President’s real answer on how to pay for all this – and still meet his goal of cutting the deficit and debt while getting the economy back on track – was to challenge the congressional super-committee looking for an additional $1.2 trillion in spending cuts (or tax increases) to do the job for him.
Overall, it was a cynical speech, delivered in campaign style before a body that seemed to be in on the joke. Political commentators expect little, if anything, he proposed to actually become law.
But the President did succeed in doing what leaders since ancient times have done best in times of great uncertainty and fear: he offered us bread and circuses…and a promise that someone else would clean-up and pay the tab.
Today’s round-up:
RTD: Obama asks $450B to lift economy, mostly tax cuts
“President Barack Obama appeals to Congress on Thursday night to support nearly $450 billion in tax reductions and new federal spending.”
Star Exponent: Warner: Economic plan without jobs won’t work
“Investment in public infrastructure, taking on corporate tax reform, slashing the deficit and overhauling social security should all be on the table when addressing economic recovery, said U.S. Senator Mark Warner, D-Virginia, during a recent visit to Culpeper. “Even as the so-called 12-member ‘supercommittee’ met for the first time Thursday in Washington to identify massive spending cuts, Warner, one of the so-called “Group of Six,” advocated for a pro-growth plan that would create jobs through a $2 trillion investment in public works.”
Decision Virginia: McDonnell believes GOP 2012 field is set
“‘I don’t think anybody else is getting in, I think it is almost too late,’ The governor told [Ryan Nobles] during a wide-ranging one on one interview. “It’s September, it’s after Labor Day. There is kind of this top-tier that is being set and then some others.'”
RTD: Judges dismiss Virginia’s challenge to health-care law
“Cuccinelli likely will appeal directly to the U.S. Supreme Court.”
National Review: Fourth Circuit Doesn’t Rule on Obamacare’s Constitutionality
“In today’s ruling, the Fourth Circuit appeals court did not address the question of the constitutionality of the individual mandate: “Because we hold that Virginia lacks standing, we cannot reach the question of whether the Constitution authorizes Congress to enact the individual mandate,” the judges wrote. There was no dissenting opinion. “This is not a victory for the Obama administration. But neither does it help those opposed to the law.”
Daily Press: Glenn Oder says he has a ‘marketable product’ in Fort Monroe
“Glenn Oder’s first job as a 17-year-old working for a contractor was to clean up the beaches of Fort Monroe. Now 37 years later he’ll be overseeing the opening of the same beaches to the public as the new executive director of the Fort Monroe Authority. “When the Army finally stands down next week at Fort Monroe after four centuries of military presence at Old Port Comfort, the 54-year-old former Republican state delegate is charged with filling the vacuum.”
Virginian-Pilot: Warner summit aims to help rebuild Va.’s network mojo
“U.S. Sen. Mark Warner is worried Virginia is losing what he considers one of its great strengths – a statewide network of business and community leaders and philanthropists. ‘I always felt that one of the things that made Virginia unique was the enormous pride in being a Virginian – whether born or adopted…. People were willing to kind of support things that were Virginia first,’ Warner said.”
Roanoke Times: Tea Party Express rolls into Roanoke for political rally
“The Tea Party Express – a California-based political group that promotes conservative candidates through cross-country bus tours – stopped in Roanoke on Thursday to rally activists ahead of next year’s congressional and presidential elections.”
