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Obama to announce $50 bln infrastructure job plan

Reuters -- By Steve Holland WASHINGTON

(Reuters) - President Barack Obama will announce on Monday a six-year plan to revamp the United States' aging roads, railways and runways with a $50 billion up-front investment to jump-start job creation.

The plan is one of several economic initiatives that Obama is due to unveil this week aimed at generating some desperately needed U.S. job growth and limiting predicted Democratic losses in November 2 congressional elections.

Administration officials say Obama will ask the U.S. Congress on Wednesday to increase and permanently extend a tax credit for business research as a way of boosting job growth. The proposal would cost $100 billion over 10 years.

But economists are skeptical any measures Obama takes now will make a significant difference in th

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Submitted Sep 06, 2010 By: creeklin

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airduct Champion Author Florida Posts:11,319 Points:293,020 Joined:May 2005	Message Posted: Sep 7, 2010 8:49:48 AM Ignore airduct Report Abuse Why do people keep asking for tax increases by wanting Obama to spend more money that we don't have? I know, they don't pay taxes in the first place.
Maurus32 Rookie Author Oakland Posts:54 Points:53,295 Joined:Jan 2009	Message Posted: Sep 7, 2010 6:09:15 AM Ignore Maurus32 Report Abuse Great news! If $50 billion can do so much good for our economy imagine how much good we could do cut in half our military. We still have the largest military in the world using half or less the money that we spend now. We should cut spending 10% per year in the military and pentagon and shift it to green jobs, solar wind, bullet trains efficiency, etc.
APlus Champion Author San Antonio Posts:2,222 Points:610,220 Joined:Apr 2007	Message Posted: Sep 7, 2010 5:22:13 AM Ignore APlus Report Abuse Why not use the current unspent stimulus funds for much needed expanded air way taxi lanes, roads and rail.
OnTheWater Champion Author Orange County Posts:2,123 Points:622,380 Joined:Nov 2009	Message Posted: Sep 7, 2010 2:09:34 AM Ignore OnTheWater Report Abuse Don't get me started on Nobama! I'm sure this idea will fail like many of his other idea's.
Jeff4U Champion Author Atlanta Posts:5,960 Points:1,385,345 Joined:Nov 2004	Message Posted: Sep 7, 2010 1:49:04 AM Ignore Jeff4U Report Abuse By the way, this political news article has no relevance to nor does it pertain to the theme of this website.
Jeff4U Champion Author Atlanta Posts:5,960 Points:1,385,345 Joined:Nov 2004	Message Posted: Sep 7, 2010 1:25:50 AM Ignore Jeff4U Report Abuse The $787,000,000,000 stimulus package, signed by Obama the minute he took office, already included $170 billion for infrastructure "shovel ready" improvements. ASK Obama "What happened to that money?". This 50 billion plan (lie) is nothing but a scam: The real purpose of this money is to payoff Unions and special interest groups ... money much needed BEFORE the upcoming November elections. In other words, it's a desperate attempt by the Democratic party to gain (buy-off, bribe) support in hopes of making a difference at the polls on November 2nd.
vulcan96 Champion Author Ohio Posts:21,169 Points:2,639,595 Joined:Aug 2004	Message Posted: Sep 7, 2010 1:17:16 AM Ignore vulcan96 Report Abuse any intelligent person already knows that you can NOT spend your way out of debt !!!!!!!!!!!!!!!!!!!!!!period !!!
idigau22 Champion Author Washington Posts:20,212 Points:2,804,100 Joined:Apr 2003	Message Posted: Sep 7, 2010 12:48:38 AM Ignore idigau22 Report Abuse A few billion here! A few billion there!! King Obama has a lot of cronies to pay off for getting him elected! Another big hit in the pocket book of the already taxed to death Tax Payers.
jackson661 Champion Author Columbus Posts:2,783 Points:1,047,190 Joined:May 2006	Message Posted: Sep 7, 2010 12:44:05 AM Ignore jackson661 Report Abuse US jobs are a must not....overseas...
camel1 Champion Author Minnesota Posts:6,045 Points:1,815,440 Joined:Jul 2006	Message Posted: Sep 7, 2010 12:42:48 AM Ignore camel1 Report Abuse It will be too late to have an economic impact, especially in job growth, before the November elections
HYEgasCA All-Star Author Fresno Posts:623 Points:520,150 Joined:Dec 2008	Message Posted: Sep 7, 2010 12:39:36 AM Ignore HYEgasCA Report Abuse Everytime Nobama does something he screws everything up.
JettaKnight Champion Author Toronto Posts:1,355 Points:1,712,435 Joined:Nov 2005	Message Posted: Sep 7, 2010 12:37:52 AM Ignore JettaKnight Report Abuse realtorguzzler Florida "... It is the same story like he handled the mortgage debts. There was this handful of people given a cubicle and billions and billions of dollars to buy up mortgage debts from the banks!" You've got your presidents mixed up. That fiasco happened under the previous administration... ALL of the bailouts, complete with "privacy" & anti-investigation clauses, were finalized before Obama took office. The last of the pay-outs (payoffs?) just happened to be completed after he was sworn in... and thus unable to legally investigate, question, freeze or stop any payments whatsoever. You should've read the relevant portions of those clauses that were made public. Talk about a cover up.
JoseM All-Star Author San Bernardino Posts:890 Points:605,010 Joined:Apr 2009	Message Posted: Sep 7, 2010 12:34:59 AM Ignore JoseM Report Abuse Mo' debt
aldog365 Champion Author Nashville Posts:3,150 Points:1,559,710 Joined:Aug 2005	Message Posted: Sep 7, 2010 12:34:04 AM Ignore aldog365 Report Abuse Didnt they do the same thing several years ago to jump start economy? Then they found alot of fraud.
ifallsguy Champion Author Minnesota Posts:4,425 Points:1,213,780 Joined:Apr 2007	Message Posted: Sep 7, 2010 12:32:03 AM Ignore ifallsguy Report Abuse more smoke and mirrors. Spend, Spend Spend and hope the stupid voters will fall for his line again. VOTE ALL THE BUMS OUT!!!!
Eichhornchen Champion Author Detroit Posts:3,772 Points:747,390 Joined:Feb 2009	Message Posted: Sep 7, 2010 12:31:31 AM Ignore Eichhornchen Report Abuse more stimulus
runout9 Champion Author New Jersey Posts:3,144 Points:958,700 Joined:Dec 2008	Message Posted: Sep 7, 2010 12:30:54 AM Ignore runout9 Report Abuse Borrow & spend another $50Billion & not create another job. This marxist who hates capitalism & free enterprise has no clue on how to encourage the private sector to start hiring. He should & will be fired.
ACTown Champion Author Oregon Posts:1,854 Points:1,119,590 Joined:Jun 2007	Message Posted: Sep 7, 2010 12:26:51 AM Ignore ACTown Report Abuse More of my money giving to political helpers of Obama.
joel27nc Champion Author Raleigh Posts:8,157 Points:1,392,445 Joined:Mar 2008	Message Posted: Sep 7, 2010 12:26:24 AM Ignore joel27nc Report Abuse Hope the plan will have some success. We'll see.
tedjm1 Champion Author New York Posts:3,540 Points:389,685 Joined:Dec 2006	Message Posted: Sep 7, 2010 12:21:48 AM Ignore tedjm1 Report Abuse Good, but this only creates temp jobs. Once the roads, rails, etc. were upgraded, those jobs are gone. What is needed are the jobs that are needed for all those in need of a job, to provide the tax base to upkeep what was done.
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Sep 7, 2010 12:21:38 AM Ignore CobraLeader Report Abuse ... How much do the retirees get? After all, we got no social security increase last year. ...
Blue_Cruzer Champion Author Lexington Posts:5,152 Points:1,202,725 Joined:Mar 2007	Message Posted: Sep 7, 2010 12:19:34 AM Ignore Blue_Cruzer Report Abuse Just print more money to cover all these jump start programs, who cares? Definitely not Washington.
rxman1 Champion Author Toledo Posts:6,996 Points:1,396,195 Joined:Nov 2007	Message Posted: Sep 7, 2010 12:16:15 AM Ignore rxman1 Report Abuse I have a new idea. Let's give back to the people or not tax the people who actually pay taxes.
Bigwaynef Champion Author South Carolina Posts:7,654 Points:1,613,960 Joined:Dec 2006	Message Posted: Sep 7, 2010 12:15:04 AM Ignore Bigwaynef Report Abuse This is what most people voted for, I hope they're happy with their change.
JohnofGB Champion Author Flint Posts:3,075 Points:631,320 Joined:Feb 2010	Message Posted: Sep 7, 2010 12:14:15 AM Ignore JohnofGB Report Abuse How about interstate bridges in the snow belt? Maybe we could avoid another Minnesota bridge collapse.
mwhals Champion Author Charleston Posts:11,517 Points:1,981,385 Joined:Jun 2006	Message Posted: Sep 7, 2010 12:10:56 AM Ignore mwhals Report Abuse Obama always finds new ways to increase the debt.
visitor_2 Champion Author Orlando Posts:1,023 Points:1,234,770 Joined:Aug 2006	Message Posted: Sep 7, 2010 12:10:52 AM Ignore visitor_2 Report Abuse Why not give $50 Billion more to banks and wall street?
bbreff Champion Author Atlanta Posts:7,647 Points:2,129,065 Joined:Jun 2005	Message Posted: Sep 7, 2010 12:09:55 AM Ignore bbreff Report Abuse Obama says that this will not increase that debt, I do not see how. Only a few qualified people will actually get jobs from this.
LexieKY Champion Author Lexington Posts:5,841 Points:1,127,340 Joined:Nov 2008	Message Posted: Sep 7, 2010 12:09:34 AM Ignore LexieKY Report Abuse Another gimmick to try to buy votes, at taxpayer expense. Impeach the bum.
nigelb Champion Author Virginia Posts:6,284 Points:958,495 Joined:Feb 2008	Message Posted: Sep 7, 2010 12:09:23 AM Ignore nigelb Report Abuse judgemobile - yea, Bush did such a great job didn't he. An unnecessary war to the tune of $1 trillion, the economic collapse of the banking system, bailouts for AIG and others, shrinking job growth. We had a surplus when Clinton left office, what happened under 'Dubya'? I could go on but I will spare everyone. The recovery began when BUSH lost his job!
CumminsFanOH Champion Author Columbus Posts:1,670 Points:827,990 Joined:Jan 2009	Message Posted: Sep 7, 2010 12:09:04 AM Ignore CumminsFanOH Report Abuse Obuma is throwing around OUR tax money, trying to buy votes.
giro All-Star Author Nevada Posts:974 Points:394,675 Joined:Jun 2009	Message Posted: Sep 7, 2010 12:08:23 AM Ignore giro Report Abuse While in general I dislike spending, placing lots of jobs to update infrastructure during times like this makes a lot of sense.
DosEquis26 Champion Author Chicago Posts:3,758 Points:1,542,440 Joined:Jun 2006	Message Posted: Sep 7, 2010 12:06:39 AM Ignore DosEquis26 Report Abuse bring back the Republicans who bankrupted us to begin with, with their unnecessary wars.
LilRedWagonIN Champion Author Indiana Posts:5,416 Points:1,104,100 Joined:Oct 2008	Message Posted: Sep 7, 2010 12:06:09 AM Ignore LilRedWagonIN Report Abuse And from where is the money coming? John Maynard Keynes proves this doesn't work.
judgemobile Champion Author Ohio Posts:5,245 Points:1,983,145 Joined:Nov 2005	Message Posted: Sep 6, 2010 11:57:00 PM Ignore judgemobile Report Abuse its a recession when neighbor loses job, a depression when you lose yours and a RECOVERY when Obama loses his
swepson Champion Author Greensboro Posts:3,116 Points:1,101,475 Joined:Jul 2008	Message Posted: Sep 6, 2010 11:55:03 PM Ignore swepson Report Abuse We need to fix our collapsing infrastructure
orestroker Champion Author Portland Posts:1,080 Points:880,145 Joined:Mar 2008	Message Posted: Sep 6, 2010 11:52:04 PM Ignore orestroker Report Abuse If we're not going to improve our means of transportation, better start building those 4x4s again.
Wy_oldtimer Champion Author Wyoming Posts:6,462 Points:1,500,180 Joined:Aug 2004	Message Posted: Sep 6, 2010 11:51:24 PM Ignore Wy_oldtimer Report Abuse Just another Socialist plan to spend money we as a Nation do not have
Rednix Champion Author Miami Posts:3,889 Points:815,070 Joined:Jul 2009	Message Posted: Sep 6, 2010 11:51:09 PM Ignore Rednix Report Abuse Is that enough?
northeast2 Champion Author New York Posts:2,670 Points:752,010 Joined:Mar 2008	Message Posted: Sep 6, 2010 11:50:59 PM Ignore northeast2 Report Abuse "I can see the roads and runways being an integral part of what Government should be doing, but the railways?" Why are roads and runways a government responsibility? When did an airline last build an airport (or even a terminal????) or lay a runway? If railroads can move freight and passengers more efficiently per gallon of diesel than planes, cars, buses, and trucks, I'm all for subsidizing track and rolling stock improvements.
jimbo1867 Champion Author Arizona Posts:3,011 Points:1,588,425 Joined:Apr 2005	Message Posted: Sep 6, 2010 11:50:51 PM Ignore jimbo1867 Report Abuse there he goes again .... spending money he doesn't have ... and to buy votes ... .. is this guy for real ...
mstearno Champion Author Dayton Posts:5,867 Points:1,286,185 Joined:Jan 2008	Message Posted: Sep 6, 2010 11:47:06 PM Ignore mstearno Report Abuse more expensive not effective work programs get govt out of the way and let small bus get us working again PLEASE
cudatim Champion Author San Antonio Posts:2,186 Points:1,081,105 Joined:Jan 2007	Message Posted: Sep 6, 2010 11:40:54 PM Ignore cudatim Report Abuse More of our money for campaign promises.
PNF Champion Author Tennessee Posts:10,811 Points:1,868,275 Joined:May 2004	Message Posted: Sep 6, 2010 11:36:35 PM Ignore PNF Report Abuse not again!!
BazooQC Champion Author Montreal Posts:7,330 Points:1,172,480 Joined:Oct 2008	Message Posted: Sep 6, 2010 11:35:15 PM Ignore BazooQC Report Abuse Taxes have always been collected, so why do our roads age.
DEG Champion Author Las Vegas Posts:15,397 Points:3,054,380 Joined:Jul 2003	Message Posted: Sep 6, 2010 11:33:25 PM Ignore DEG Report Abuse Looks like Obama is ready to waste another $50 billion in taxpayer $$$.
1cheapgasin Champion Author Indianapolis Posts:3,145 Points:744,590 Joined:Jul 2009	Message Posted: Sep 6, 2010 11:29:00 PM Ignore 1cheapgasin Report Abuse Yeah, create $10/hr. jobs-keep them begging,Obama!!!!!!!!!!!
1cheapgasin Champion Author Indianapolis Posts:3,145 Points:744,590 Joined:Jul 2009	Message Posted: Sep 6, 2010 11:18:42 PM Ignore 1cheapgasin Report Abuse Keep printing money Obama- your days are numbered- hurry up November before he bankrupts all of us!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Amplion Champion Author Oregon Posts:4,237 Points:1,398,310 Joined:Sep 2005	Message Posted: Sep 6, 2010 9:53:22 PM Ignore Amplion Report Abuse BHO BOONDOGGLE !!!
PathfinderSC Champion Author South Carolina Posts:7,165 Points:1,365,980 Joined:Mar 2008	Message Posted: Sep 6, 2010 9:33:05 PM Ignore PathfinderSC Report Abuse Our infrastructure is in bad shape, And will have to be replaced at some time . But it should started many years ago.