Last week I watched Obama’s jobs speech at the end of which I responded saying it was a pretty good speech for a moderate republican. one of my friends responded by saying there are a lot of moderate republicans who would disagree with that assessment. However if you look at the actual substance of the speech and look beyond the stylistics you’d be hard pressed to find a truly liberal/progressive proposal within the plan.
The overall breakdown of the spending plan is 60%/40% tax cuts vs governmental programs. And a considerable amount of the governmental program spending is through the hiring of private industry to do work. The remainder goes to helping states meet budget short falls so they don’t have to resort to massive layoffs of teachers (Texas looking at you), and extending unemployment insurance. So the big picture analysis of the jobs plan is 75% traditional republican supported proposals, and 25% democrat supported programs.
Some will point out that Obama plans on paying for all this spending by soaking the job creators in taxes. Even here though there is much for republicans to be in favor of. He has talked about making cuts to one of the sacred cows of the democratic party by reforming medicare, and at the same time he is looking for ways to lower the corporate tax rate by getting rid of costly loop holes.
Obama’s plan is a through the looking glass version of the liberal platform. And yet it is being viewed by some as more of the same. The fact of the matter is there is a trillion dollar hole in our economy left by the collapse of the housing industry and the hemorrhaging of the financial sector. Austerity won’t work look at Brittan, Greece, and Ireland, or ask the UN or the IMF. If a plan isn’t enacted soon we will fall back into recession and we’ll be forcing the world to reenact Japans lost decade.