President Obama and congressional Democrats — out of options for another quick shot of stimulus spending to revive the sluggish economy — are shifting toward a longer-term strategy that promises to tackle persistently high unemployment by engineering a renaissance in American manufacturing.
That approach, heralded by Obama last week in Detroit and sketched out in a memo to House Democrats as they headed home for the August break, is still evolving and so far focuses primarily on raising taxes on multinational corporations that Democrats accuse of shipping jobs overseas.
The strategy also repackages policies long pursued by the White House — such as investing in clean energy, roads, bridges and broadband service — with more than two dozen legislative proposals aimed at developing a plan for promoting domestic manufacturing.
Full Story: New Democratic strategy for creating jobs focuses on a boost in manufacturing
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