Obama To Give Major Jobs Speech

new ideas for speeding up job growthBy BEN FELLER

WASHINGTON (AP) -- Seeking a jolt for a wilting economy, President Barack Obama will give a major speech in early September to unveil new ideas for speeding up job growth and helping the struggling poor and middle class, a senior administration official told The Associated Press.

The president's plan is likely to contain tax cuts, jobs-boosting infrastructure ideas and steps that would specifically help the long-term unemployed. The official emphasized that all of Obama's proposals would be fresh ones, not a rehash of plans he has pitched for many weeks and still supports, including his "infrastructure bank" idea to finance construction jobs.

On a significant and related front, Obama will also present a specific plan to cut the suffocating long-term national debt and to pay for the cost of his new short-term economic ideas.

His debt proposal will be bigger than the $1.5 trillion package that a new "supercommittee" of Congress must come up with by late November.

The president will then spend his fall publicly pressing Congress to take action as the economic debate roars into its next phase. Both the economic ideas and the plan to pay for them will be part of Obama's speech, although the address will focus mainly on the jobs components.

The president's speech is expected right after the Sept. 5 Labor Day holiday.

The official spoke on condition of anonymity because Obama has not yet disclosed his plans.

No final decisions on the economic package have been made.

Seeking re-election in a dispiriting economic time for the nation, Obama's rollout plan allows him to come into September swinging after one of the roughest periods of his presidency.

Obama has hinted about new economic ideas for days as the Republican presidential contenders take whacks as his record. Obama's economic team has been hashing out the new package since he and Congress struck a last-minute debt deal in late July to prevent a debilitating government default.

Obama has been rumbling through the Midwest all week, lobbying the locals along the way to help him pressure a divided Congress into working with him. He has one day of his bus tour left on Wednesday before returning to Washington and heading on a vacation with his family.

Come September, Obama will try to reframe the jobs debate and press lawmakers to act on his ideas. And, since he is almost sure to face political opposition from Republicans, particularly the leadership of the House, he is already preparing to lobby the American public for support if Congress tosses his ideas aside.

As the leader of the country, Obama is under unparalleled pressure to start showing more economic progress. His own job is expected to depend on it.

Nearly 14 million people are unemployed. Many millions more have given up looking for jobs or haven't found a way to move from part-time to full-time work.

The administration official would not offer details about the tax cuts Obama is likely to propose for the middle class.

They are expected to be separate from the extension of the payroll tax cut for employees that Obama has lobbied for by the day. Obama also has promoted a familiar list of other ideas, including patent reform and three major trade deals. And he has pushed for longer benefits for the chronically unemployed.

As for debt reduction, Obama is trying to have some say over the highly influential committee charged with recommending major changes fast.

That 12-person panel of Republicans and Democrats will start work in September on coming up with - by Nov. 23 - $1.5 trillion in savings over the coming decades. If not, or if Congress fails to approve the committee's plans, automatic spending cuts that both parties oppose would kick in across the government.

Obama's plan will be bigger. By how much isn't clear, but he has already envisioned $4 trillion in cuts over a slightly longer period of time.

He was in serious talks with House Speaker John Boehner during the recent, wrenching talks over a similar big package, between $3 trillion and $4 trillion. And those talks had included the potential for economic help like the payroll tax cut extension; Obama's new plan is likely to follow similar form.

Without offering any specifics about his plans, the president has been telling audiences he will get detailed in September, and then fight it out.

"My attitude is, get it done," he said in one Iowa town hall on Monday. "And if they (lawmakers) don't get it done, then we'll be running against a Congress that's not doing anything for the American people, and the choice will be very stark and will be very clear."

The economy has rebounded from a deep recession Obama inherited, but growth and hopes have stalled.

The unemployment rate is at 9.1 percent. No president in recent history has been re-elected with a jobless rate nearly that high.





Next: Young People Take the Economy Into Their Own Hands



Don't Miss: Top 10 Companies Hiring Now



Stories from CNN Money

Add a Comment

*0 / 3000 Character Maximum

1 Comment

Filter by:
Michael

Isn't strange how the media talks about obama giving speechs, and having town hall meetings. Why don't they call it what it is, namely obama's campaign rallies. We know how he got to be in the illinois state senate, stepping on other democrats and using dirty tricks, then went on the the US senate from one of the top three most corrupt states in the union, now he's the president. He doesn't know how to govern, and what policies he has rammed down the american peoples throats, are going to make america's standard of living fall, and make more people dependent on handouts. This will end badly, with the near certain collapse of the worlds economy. It happened before in the 20's and 30's, but this time will be much worse.

Get out of the markets, hold cash, and watch it unfold. It won't be pretty, but it's inevitable. obama will certainly blame someone else, but that is standard left wing liberal playbook in action. Now that uneployment is near 17%, I find it so hard to believe that having 20 30 50 or even 100 thousand new jobs created in a month, doesn't acknowledge the 200,000 new job seekers entering, or trying to, every single month on average, so month after month we have more people without jobs than ever before.

August 17 2011 at 10:54 AM Report abuse rate up rate down Reply

Search Articles

Top Companies Hiring

Week of Oct 19 - 26
View All

Featured Writers

Meet the team

Picks From the Web