|Well, this is the guy that was stymied by an umbrella...|
It turns out the cuts he said that would be needed to pay for it are actually tax increases. The tax increases all being the same dead horses he's been flogging for some time: jacking up the taxes on rich folks making over $250,000 a year, ending tax loop holes for oil companies, and of course one of his his favorites -- holding corporate jet owners upside down and shaking them until buckets of money fall out of their pockets.
This to give more money to unionized teachers, shovel-ready jobs that are mired in red tape, high-speed choo-choo trains and possibly the next incarnation of Solydra. Whatever. We all knows this is just a stump speech, as the Wall Street Journal reports:
Republicans in Congress, who had been striking a more conciliatory tone about backing at least parts of the proposal the president unveiled last Thursday, disputed the White House contention that the plan would cause no additional job losses for the struggling economy.By the way, there's a link to the bill at the Wall Street Journal article.
"It would be fair to say this tax increase on job creators is the kind of proposal both parties have opposed in the past,'' said Michael Steel, a spokesman for House Speaker John Boehner (R., Ohio). "We remain eager to work together on ways to support job growth, but this proposal doesn't appear to have been offered in that bipartisan spirit.''
Mr. Obama made a new pitch for his plan at the White House Monday and has said he intends to campaign against Congress and Republicans in 2012 if they don't pass the bill.
"We've got to decide what our priorities are," he said. "Do we keep tax loopholes for oil companies, or do we put teachers back to work? Should we keep tax breaks for millionaires and billionaires, or should we invest in education and technology and infrastructure?"
Despite Mr. Obama's demand that Congress act on the legislation quickly, neither the jobs nor tax proposals are likely to be approved or take affect any time soon. Senate Democratic leaders are expected to bring the bill to a vote in the coming weeks, but it is not expected to pass.