President Obama proposed many things that should have been done earlier —
tax cuts for the middle class, tax cuts for businesses and money for
infrastructure projects. In many ways I like his proposals, but then I
can’t help but remember that he promised to rebuild our infrastructure
and schools 3 years ago when he asked for, and received, roughly $800
billion for the American Recovery and Reinvestment Act. We still haven’t
seen much good from that law, other than payoffs to failed businesses
like Solyndra and a dead economy.
Also, while I like the extension of the 4.2 percent payroll tax rate, I can’t help but fear that cutting it to 3.1 percent, as he proposed, will only hasten the Social Security time bomb we all know will soon blow.
{mosads}Lastly, he learned from his past mistake by not offering any pie-in-the-sky number guarantee of the unemployment rate if this bill passes; however, he seems to be making the same mistake he did with the healthcare bill in that he offers no real specifics and hopes that it all works out after the bill is passed.
For the sake of America, I hope whatever the final bill is, that it works, but having seen this movie before, count me skeptical.