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Defense Cuts Could Destroy A Million Jobs
Undid revision 451528350 by Hcobb (talk) - Budget Control Act of 2011 is independent legislation, has nothing to do with AJA
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Republican Majority Leader Eric Cantor indicated that it would be a tough bill to pass quickly: "Insisting that this body and the two sides here agree on everything is not a reasonable expectation." <ref>{{cite web | url=http://www.guardian.co.uk/world/2011/sep/09/barack-obama-jobs-plan-congress | title=Barack Obama Facing Standoff with Congress Over US Jobs Plan | publisher=The Guardian | date=September 9, 2011}}</ref> House Speaker Boehner said the president’s bill should be analyzed immediately by the [[Congressional Budget Office]] for scoring before the administration and Congress pursue negotiations.<ref name="bloom-no-delays" />
Republican Majority Leader Eric Cantor indicated that it would be a tough bill to pass quickly: "Insisting that this body and the two sides here agree on everything is not a reasonable expectation." <ref>{{cite web | url=http://www.guardian.co.uk/world/2011/sep/09/barack-obama-jobs-plan-congress | title=Barack Obama Facing Standoff with Congress Over US Jobs Plan | publisher=The Guardian | date=September 9, 2011}}</ref> House Speaker Boehner said the president’s bill should be analyzed immediately by the [[Congressional Budget Office]] for scoring before the administration and Congress pursue negotiations.<ref name="bloom-no-delays" />

==Economic Impact==
Job losses in the defense sector from the Budget Control Act could largely cancel out any job gains from the AJA.<ref>[[Lexington Institute|Thompson, Loren.]] [http://www.forbes.com/sites/beltway/2011/09/19/defense-cuts-could-destroy-a-million-jobs/ "Defense Cuts Could Destroy A Million Jobs."] ''Forbes Magazine'', September 19, 2011.</ref>


==See also==
==See also==

Revision as of 17:12, 20 September 2011

The American Jobs Act (S. 1549) is a bill proposed by US President Barack Obama in a nationally televised address[1] to a joint session of Congress on September 8, 2011.[2] He said that it consists of a set of non-controversial proposals designed to get Americans back to work, and he repeatedly urged Congress to pass the bill "right away"; he also said that the bill would not add to the national deficit and would be fully paid for.[3] In anticipation of criticism that the legislation was motivated by the upcoming election, the President noted that the election is fourteen months away and that Americans do not have the luxury of waiting fourteen months for jobs to be created.[2][4]

Background

Main articles: Late-2000s recession, Job losses caused by the late-2000s recession, and United States debt-ceiling crisis

Since the start of the great recession, unemployment and underemployment levels in the U.S. have remained stubbornly high. Consumer confidence has remained shaky, raising the specter of a double dip recession.

In August 2011, the U.S. Congress agreed on raising the debt ceiling and a reduction in deficits within the next decade. The acrimonious debate leading to the passage of this bill made clear that some in Congress considered national default to be a viable political option. Following passage, Standard & Poor's downgraded the United States top credit rating from AAA to AA+ citing various factors including the long term political struggle to raise the debt ceiling and a lack of credible plans to reduce federal spending and increase tax revenue.[5] Economic data released in July and August 2011 came in worse than expected, and worldwide stock markets tumbled quickly raising the fear of a new recession.[6] After Labor Day, President Obama, in a major speech[1] before a joint session of Congress,[2] detailed a major new jobs package and urged the Congress to pass it without delay.

The President addressed Congress on September 8 after his original request to deliver the speech on September 7th was rebuffed by Speaker of the House John Boehner, who cited a clash with a Republican Presidential debate already scheduled for the same time and stated that more time was required to secure the House for the President's visit.[7]

Legislative history

In the Senate, the bill was introduced by Majority leader Harry Reid on September 13, 2011 as S. 1549.

In the House of Representatives, the bill has yet to be introduced or sponsored so no bill number has yet been assigned, but as a matter of procedure; on September 12, 2011 The Speaker pro tempore laid before the House a message from the President transmitting the legislative proposal, referred to committee and ordered it to be printed (H. Doc. 112-53).[8]

On September 14, Republican Louie Gohmert introduced his own "American Jobs Act of 2011" into the House as H.R. 2911. This new bill would reduce the corporate income tax to 0%.[9]

Making the case

The White House provided an "American Jobs Act Fact Sheet"[10], which summarizes the key benefits of the Bill.

President Obama appeared before constituents of Eric Cantor's congressional district to press the Congress to pass his bill immediately.[11] On September 12, he gave a speech in the White House Rose Garden in front of a group of teachers, police officers, construction workers and small-business owners in which he stated that "if Congress does not act, just about every family in America will pay more taxes next year. That would be a self-inflicted wound that our economy just cannot afford right now."[12] In Speaker Boehner's home state of Ohio, Obama gave a speech described as "fiery" in a Columbus high school that led to the audience chanting: "Pass this bill!"[13] In a campaign-style rally at North Carolina State University, Obama told college students "Every single one of you can help make this bill a reality. … The time for hand-wringing is over. The time for moping around is over. We've got to kick off our bedroom slippers and put on our marching shoes."[14] At a black-tie dinner for the Congressional Hispanic Caucus Institute, Obama pitched his jobs plan to Latinos. "The real problem isn't the members of Congress in this room," he said to an audience which included several congressional Democrats. "It's the members of Congress who put party before country because they believe the only way to resolve our differences is to wait 14 months till the next election."[15]

Reception by Republicans

Republican Majority Leader Eric Cantor indicated that it would be a tough bill to pass quickly: "Insisting that this body and the two sides here agree on everything is not a reasonable expectation." [16] House Speaker Boehner said the president’s bill should be analyzed immediately by the Congressional Budget Office for scoring before the administration and Congress pursue negotiations.[12]

See also

References

Wikisource has original text related to this article:
  1. ^ a b "Full text of Barack Obama's jobs speech". The Guardian. September 9, 2011. Retrieved September 9, 2011.
  2. ^ a b c Sutton, Nikki (September 1, 2011). "The President's Jobs Address Enhanced with Charts and Stats". whitehouse.gov. Retrieved September 9, 2011.
  3. ^ Calmes, Jackie (September 17, 2011). "Obama Tax Plan Would Ask More of Millionaires". Retrieved September 18, 2011.
  4. ^ President Obama Presents American Jobs Act, September 8th (Interactive Video)
  5. ^ Detrixhe, John (August 8, 2011). "U.S. Loses AAA Credit Rating as S&P Slams Debt Levels, Political Process". Bloomberg L.P. Retrieved September 11, 2011.
  6. ^ Condon, Bernard; Rugaber, Christopher (August 22, 2011). "Fear feeds Faltering Stock market". The Associated Press. The Olympian. Retrieved September 9, 2011.
  7. ^ Bobic, Igor (September 1, 2011). "Speechgate: How Obama's Jobs Address Got Postponed". Talking Points Memo. Retrieved September 9, 2011.
  8. ^ 2011 Congressional Record, Vol. 157, Page H6049 (September 12, 2011)
  9. ^ Quinn, Rob (September 15, 2011). "GOP Rep's Jobs Bill Would Abolish Corporate Taxes". Newser. Retrieved September 15, 2011.
  10. ^ "White House Fact Sheet: The American Jobs Act". The White House.
  11. ^ Runningen, Roger; Talev, Margaret (September 9, 2011). "Obama Tells Virginia Voters to Press U.S. Congress for Action on Jobs Plan". Retrieved September 9, 2011.
  12. ^ a b Runningen, Roger; Goldman, Julianna (September 12, 2011). "Obama Says Congress Should Act on $447 Billion Jobs Plan With 'No Delays'". Bloomberg L.P. Retrieved September 13, 2011.
  13. ^ Werner, Erica (September 13, 2011). "Obama pushes jobs plan in Boehner's state". Associated Press. msnbc.com. Retrieved September 14, 2011.
  14. ^ Superville, Darlene (September 15, 2011). "Obama touts jobs bill benefits for small business". The Associated Press. msnbc.com. Retrieved September 15, 2011.
  15. ^ Wilkie, Christina (September 15, 2011). "Obama Seeks Latino Support For Jobs Bill". The Huffington Post. Retrieved September 15, 2011.
  16. ^ "Barack Obama Facing Standoff with Congress Over US Jobs Plan". The Guardian. September 9, 2011.
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