Facing a rising jobless rate and the possibility of a GOP blowout in the November midterm elections, President Obama sought Wednesday to convince voters that he is charting a new path to revive the American economy.
But Obama’s proposal for $180 billion in fresh infrastructure spending and business tax breaks is not satisfying many of the groups he needs on his side – not lawmakers on Capital Hill who are leery of raising the deficit by spending more, not economists who say the plan is too modest to create many jobs, and not business groups that say the tax benefits come with too many strings attached.
Even some vulnerable Democrats – who have been begging the White House for a jobs strategy to present to recession-battered voters – quickly condemned the president’s latest proposal, suggesting that it bears an uncomfortable resemblance to last year’s unpopular stimulus package.
Full Story: Obama’s tax-credit plan getting a cool reception
GOP RESPONDS TO OBAMA’S ECONOMIC PLAN