US President Obama is widely expected to announce a new jobs plan on or just after Labor Day when he returns from his vacation.
The plan will likely include the extension of payroll tax cuts, new revenue for transportation projects and an extension of emergency unemployment benefits for the 9.1% of Americans still unemployed.
Mr. Obama’s campaign advisor, David Axelrod, said Sunday that there is nothing in the proposal “that reasonable people shouldn’t be able to agree on”, but many Republicans are already preparing to reject and or push back whatever the President brings to the table.
Republican strategy wizard, Carl Rove, speaking on Fox News Sunday said, “This is the 7th, 8th or 9th time we have heard the President talk about producing a plan, and each time that he gotten around to tossing an idea out on the table, it has included more spending, more deficit, more debt and the American people are fed up with it.”
Mr. Obama is expected to announce his new jobs proposal in a speech after Labor Day.
Paul A. Ebeling, Jnr.
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Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.