Obama Lays Out Job Creation Strategy, Fires Back At Political Foes


Obama lays out job creation strategy, fires back at political foesLast week, President Obama delivered a much-anticipated speech where he outlined his job creation proposal, while also taking a few shots at some of his political adversaries.

Obama proposed a one-year elimination of the capital gains tax on small business investment in an effort to promote economic expansion in the private sector. He also plans to offer business owners tax credits to boost hiring and unused Wall Street bailout money to increase lending.

Two other programs that the president discussed include a substantial investment in infrastructure and a government sponsored "green" initiative that will give people rebates to retrofit their home to become more energy efficient.

Before Obama spoke of future plans for economic growth, he pointed the finger back at those who opposed his previous recovery plan.

"We were forced to take those steps [to jump-start the economy] largely without the help of an opposition party which, unfortunately, after having presided over the decision-making that had led to the crisis, decided to hand it over to others to solve," he stated.

Meanwhile, Republicans have been fuming over the decision to take unused Troubled Asset Relief Program (TARP) money and spend it on another stimulus program.

"Any [money] left over was meant to go to the deficit," said Congressman John Boehner (R-Ohio). "The idea of taking this money and spending it is repulsive," he added.

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