President Obama will be delivering a Jobs speech to a joint session of Congress this Thursday, with skepticism and even disrespect already evident, with Congressmen Joe Wilson of South Carolina and Joe Walsh of Illinois already stating they would not be present.
The Republicans are unwilling to do anything to create jobs, and seem ready to refuse the Obama plan to continue the payroll tax holiday, which cut the Social Security tax on employers and employees, giving taxpayers approximately a thousand dollars extra to spend, helping middle and lower income taxpayers, and helping to stimulate the economy. After all they did under George W. Bush to increase the deficit, now the Republicans put the deficit ahead of helping the average American, while not considering any tax increases to be borne by those who have received the bulk of the tax cuts in the past decade, the extremely wealthy! It is this reckless fiscal policy under George W. Bush which has led to this economic crisis we now face!
Unemployment compensation, which has been extended up to 99 weeks in some states, needs to be extended since we have more people with long term unemployment than ever before since World War II. Money coming from unemployment compensation is immediately spent, which would help the economy in a major way.
Infrastructure spending is urgent, not only in creation of jobs, but also the dire need to rebuild and extend our roads, bridges, rail and mass transit, which are in poor shape across the country.
Refinancing of mortgages is urgent to give struggling homeowners the opportunity to keep their homes, as the more homes in foreclosure, the worse the whole housing situation will be for the long run.
Unfortunately, the likelihood is that close to nothing that Obama will promote will make it through Congress, setting up the political debate for the 2012 Presidential Election. The sad part is the great human suffering which will ensue, and the danger that it could lead to violence and turmoil in America!