Obama Live September 8 2011 pushes Congress to act now on economy Full Speech

Obama Live September 8 2011 pushes Congress to act now on economy - politics - White House WASHINGTON — Calling it an "urgent time for our country," President Barack Obama asked Congress on Thursday night to "stop the political circus" and approve a nearly half-trillion-dollar plan to help the economy by cutting payroll taxes, raising taxes on the wealthy and rewarding companies that hire new workers.

"We continue to face an economic crisis that has left millions of our neighbors jobless and a political crisis that has made things worse," Obama said in an address to a joint session of Congress.

To answer that crisis, Obama was proposing what he called the American Jobs Act, which he said would cut payroll taxes in half for working Americans and most small businesses; boost spending on public works, like roads, by $105 billion; and make permanent a temporary cut in the individual tax rate, which was reduced from 6.2 percent to 4.2 percent for this year only. 1. Other political news of note 1. First Read: The CBO and short-term fixes The Congressional Budget Office released a report in January that looks at some of the short-term policies the president might ask Congress to enact in his speech Thursday night. 2. Analysis: Perry takes the heat but keeps on smiling 3. Perry's Merck link in spotlight following vaccine order 4. Payroll tax cut likely hub of Obama's jobs plan 5. Congressional debt reduction panel kicks off

Obama calculated that the "typical working family" would get a $1,500 tax cut and that small companies with 50 employees would save $80,000, which he said would "provide a jolt to an economy that has stalled."

Obama didn't say how much the plan would cost, but advisers told NBC News it would run about $450 billion. Obama said he hopes to pay for it by closing corporate tax "loopholes" and by raising taxes on wealthier Americans.

"We need a tax code where everyone gets a fair shake and everybody pays their fair share," he said. "And I believe the vast majority of wealthy Americans and CEOs are willing to do just that if it helps the economy grow and gets our fiscal house in order."

Earlier this summer, Republicans forced a partial government shutdown over their refusal to raise any taxes at all, but Obama told them they should "pass this jobs plan right away," because "the millions of Americans who are watching right now, they don't care about politics. They have real-life concerns."
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Aides told NBC News that a key point of Obama's address was that the measure simply wraps in a variety of deficit-reduction and jobs proposals that have drawn support in the past from both parties.

Obama made the same argument, telling lawmakers there was "nothing controversial about this piece of legislation."

"Everything in here is the kind of proposal that's been supported by both Democrats and Republicans," he said.

Obama challenges Congress
Obama promised to release a detailed plan Monday.

In its latest budgetary outlook, the Congressional Budget Office estimated the federal deficits fiscal year 2011, which ends Sept. 30, at $1.28 trillion, down about $10 billion from last year. A bipartisan congressional debt committee met for a first time Thursday , assigned with finding $1.5 trillion in deficit reductions.

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[UltimateSadfaic]

Maybe you should do what George Bush did, and just kill iraq families for oil. It has to be alright because a president says it's right.

[hellotommy]

HIGH Unemployment rates and other economic misery exists still from the divisive Fabian Socialist policies of Obama and the progressive global communist democrats. Obama was the highest taker of Wall Str. cash and bailed them out after they looted the taxpayers. Why? To teach us spoiled low class Americans a lesson in selling away our birthrights. Now he is gutting the military and making welfare a permanent entitlement. The healthcare takeover was the end of our freedom and start of tyranny.

[olmscheidr]

@afghanastan100 I respect the fact you are in the military, but it doesn't make you right. Also, I am not collecting any money from the government unlike yourself; just thought I would clear that up. As for econ classes, if you have taken less than 10 econ courses (higher education) I will say to you, wait till you learn what actually goes on. The content of beginning econ courses tend to be useless and sometimes strait up wrong. Oh, and your "facts" are wrong about the presidents as well.

[gijoncapital]

@ih8faggots1000 and you re a shame for the humanity!worthless garbage!!!

[afghanastan100]

@TorrianS u mentally challenged bud? notice how the economy boomed with bush. no he wasnt the best pres but id take him over this mixed up socialist any day. and the reason ppl wanna see his birth certificate is bc hes got a MUSLIM name! BARACK HUSSEIN OBAMA! that sound english to you? nah didnt think so. ever think that they just wanted to make sure? and why did they have such trouble with finding it??

[afghanastan100]

@olmscheidr yeah thats right. while im overseas fighting to make sure no crazy towel-head is gonna shove a plane up your poor ass again, you keep making 60 grand while in school on the gov't paycheck. Bush spent almost $800 billion to save banks and what not and then earned almost $700 billion to try to even that out. Obama spent over $800 billion to create jobs and in order to even that out he spent another $400 billion. yeah thats right your not the only one who took econ, dipshit

[MrChuckd41]

Then see how much money you could save this country...

[MrChuckd41]

Y not withhold all payments to our enemies? Y not defund the UN? Y not abolish all the wasteful programs designed to give benefits to the undeserving? Just think how much money you could save our country! Instead of threatening 2 withhold Soldiers pay, Veterans Benefits, S.S. Benefits, & Disability Benefits from those who really have no power 2 make immediate changes in the debt ceiling, Y not hold the paychecks of all gov officials--those in the White House, the House of Reps & the Senate,

[MrChuckd41]

Mr. President, I heard U say U will not guarantee S.S. checks if the debt ceiling isn't raised. Y do your scare tactics always relate to S.S. Medicare, & our Soldiers pay? Why use Seniors, Soldiers, the Sick and the Disabled as hostages? Y not threaten 2 stop payments 2 ur staff & urself, Congress & the Senate? Y not say U will take away the retirement benefits and the medical benefits of all the Gov officials and employees? That would save much more money for our country!!!

[BullFrogsParadise]

@ih8faggots1000 hey dude, enough with the racist slurrs. That's not nice.