President Obama will be in Milwaukee today to speak at Labor Fest. It is his third trip in 2 months to our state.
As part of his speech he is going to lay out his latest program to stimulate jobs. The purpose of the program will be to stimulate job growth with a $50 billion dollar program to rebuild roads, railways and airport runways. The money would be spent over six years, but is front loaded to help create jobs now. The program is supposed to build 150,000 miles of road, 4000 miles of rail and 150 miles of airport runways.
Part of the proposal includes the creation of a permanent infrastructure bank. The bank would focus on funding national and regional projects. The bank is supposed to keep the process free of politics.
I thought the first Stimulus was supposed to be spent on infrastructure for “shovel ready” projects. Obama says this program is different because its impact will be long term Obama has said this spending would be paid for by ending special tax breaks for oil and gas companies.
Unemployment in Wisconsin was 7.8% in July. Wisconsin has lost 35,000 manufacturing jobs since the he has taken office. Here are some steps he can take if he wants to begin to ease unemployment:
- keep the Bush tax cuts. It is no time to increase taxes. The thought of hiring taxes are keeping Americans from spending money and business owners from making investments in their business.
- freeze government hiring and government employee wages. Government is too big and is taking too many resources out of the private economy.
- drop plans for Cap and trade. The prospect of drastically higher energy prices is keeping manufactures from expanding.
- stop the card check legislation, many business owners are reluctant to expand if thy think they will be forced to unionize their business.
- stop the out of control spending. Confidence in the economy and stock market has been severely eroded by the historic spending.
- roll back changes to health care. Business is nervous about the increased cost and regulations.
The first stimulus has not created jobs. There is no reason to believe a second massive spending bill will add jobs. Obama’s policies have deepened the recession and are leading us into a second. If he cuts taxes and spending he can create the conditions the private sector needs to create jobs. The Government just needs to get out of the way.