Obama said he would do "what?" the next 4 years to fix the economy?
Anyone?
Anyone have anything to that regard?
Government Spending -
At different points thoughout the campaign, President Barack Obama has said he would:
Create 60,000 jobs annually by funding exploration of new natural gas.
Train two million of the long-term unemployed and double the number of work/study jobs.
Cut $500 billion from defense spending, and shift to protect against cyber-threats. Create
a new Jobs Corps specifically for veterans.
Public works jobs program. Costs $75 billion to create 1.3 million jobs.
Provide aid to states to hire more teachers. Costs $85 billion to create 1.5 million jobs.
Extend unemployment benefits. Costs $62 billion, but will create 1.178 million jobs. (Sources:
Obama's 2102 State of the Union Address, The 2011 American Jobs Act)
Taxes -
Obama uses tax cuts to focus on creating jobs at home, although his promotion of a tax "increase"
on higher income families could hurt small businesses.
Extend Bush tax cuts only for families making less than $250,000 a year.
Extend payroll tax cut, costing $175 billion but creating 2.3 million jobs.
Eliminate tax breaks for companies that move jobs overseas. Give 20% tax credit for expenses related
to moving jobs back to U.S. Give 100% tax credit for investment in U.S. plant and equipment.
Double tax deduction for advanced manufacturing technologies in U.S.
Tax cut for businesses that hire long-term unemployed, veterans or students. Costs $65 billion
to create 845,000 jobs.
Give tax breaks to companies that build in distressed areas and train workers.
Reduce tax credits for oil exploration. Give tax credits for alternative energy development.
Extend the tuition tax credit.(Sources: Obama's 2102 State of the Union Address, American Jobs Act)
Monetary Policy
President Obama hasn't said whether or not he will reappoint Federal Reserve Chairman Ben Bernanke
when his term expires in January 2014. However, most analysts agree he probably will. This means
continued low interest rates until job creation improves. He doesn't believe expanded monetary policy
will create inflation. (Source: Bloomberg, Bernanke Influence Seen Outlasting His Term, 9/13/12)
Regulations, Trade, Other
Signed free trade agreements with Colombia, South Korea and Panama. Double exports by 2015,
supporting 70,000 U.S. jobs. Set up Trade Investigation Unit to enforce trade agreements.
Set up a program to help mortgage-holders refinance by giving them a $3,000 a year credit,funded
by a fee on big banks.
Ban insider trading among Congressmen. (Source: Obama's 2102 State of the Union Address)