Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation's roads, railways and runways that would cost at least $50 billion.If $814 billion wouldn't turn the economy around why would we think $50 billion would make any difference? And who would most of those jobs go to? Labor union members. This is just another giveaway of our tax dollars to the labor unions.
The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.
While the proposal calls for investments over six years, the White House said spending would be front-loaded with an initial $50 billion to help create jobs in the near future.
The goals of the infrastructure plan include: rebuilding 150,000 miles of roads; constructing and maintaining 4,000 miles of railways, enough to go coast-to-coast; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a new air navigation system designed to reduce travel times and delays.
Obama will also call for the creation of a permanent infrastructure bank that would focus on funding national and regional infrastructure projects.
Administration officials wouldn't say what the total cost of the infrastructure investments would be, but did say the initial $50 billion represents a significant percentage. Officials said the White House would consider closing a number of special tax breaks for oil and gas companies to pay for the proposal.
At this point I have my doubts Obama can even get the bill out of Congress.
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2 comments:
The first "Stimulus" was supposed to involve restoring infrastructure such as roads and bridges. Has everyone forgotten that already?
If everyone has forgotten and they can ram this through, they'll know they have a nation of idiotic sheep that they can lead in any direction they want.
While the jobs created by such construction would be a plus, the financing by taxing the energy sector would be a serious drag on the economy.
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