A Second 2010 Economic Stimulus in President Obama's New Job Programs Focusing on Small Business, Infrastructure and Home Energy Efficiency

President Obama has announced three proposals intended to turn around the nation’s ailing job market and spur employment growth, including strengthening investments to small businesses who are finding it hard to get loans in tight credit markets, upgrading infrastructure across the nation and promoting home-energy efficiency projects.

“Having finally moved into positive territory when it comes to economic growth, our biggest challenge now is making sure that job growth matches up with economic growth,” Obama told reporters at the White House yesterday. “The president is not going to unveil the silver-bullet idea” that will bring back the more than 7.2 million jobs that have been lost since the start of the recession, White house press secretary Gibbs said. On the White House blog, called today’s speech a “stepping stone” and that it “will not represent the totality of our plans for continued economic recovery.”

The president also will call for increasing the investment in infrastructure through building and modernizing highways, railways, bridges and tunnels. He also will propose a new program that provides rebates for consumers who retrofit their homes to become more energy efficient. This is in addition to the existing $1500 energy rebate and cash for appliances program

The president also will call for using some of the $200 billion in Troubled Asset Relief Program to help pay down the $1.4 trillion budget deficit. One week after taking his economic message on the road, Mr. Obama is in Washington on Tuesday, offering an outline for his plan for Congress to help boost the job market next year.

The president will argue that using some of the TARP money to help unlock credit for small businesses is in line with the original intent of the program, which was passed in October 2008 to avoid a collapse of the banking system. Republicans in Congress disagree, saying that using the bailout funds would amount to a second economic stimulus.

“Using bailout funds for another spending spree would violate both current law and our pledge to return every dollar to the taxpayers,” said Senator Mitch McConnell of Kentucky, the Republican leader. “Americans’ patience is running awfully thin with politicians who promise jobs, but deliver only more debt.”“TARP was not sold to the American people as a revolving slush fund,” said Representative Randy Neugebauer of Texas, the No. 2 Republican on the House Financial Services Committee. In a letter to Treasury Secretary Timothy Geithner, Neugebauer and 102 other House Republicans said the program should be allowed to expire at the end of the year and unused or repaid money should be returned to taxpayers.

The above initiatives are Mr. Obama’s latest effort to draw attention to the economy and fend off critics who say that a double dip recession could result next year. I’ll provide more updates on the initiatives when available, which you keep up to date with by subscribing (free) via Email or RSS to get the latest news.

More on the Stimulus Programs:
$800/$400 Making Working Pay Tax Credit
2010 Extension of $8,000 New Home Buyer Credit
Tax Breaks in Obama’s $15 billion Small Business Plan
Key Dates for Stimulus Payments
New Car Stimulus Deduction

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1 thought on “A Second 2010 Economic Stimulus in President Obama's New Job Programs Focusing on Small Business, Infrastructure and Home Energy Efficiency”

    It is a long long shot, and it has to be a real loud shot, a sonic boom, but I believe with every cell in my body that it can happen and if you believe like I do you are welcome to add, improve, share and do whatever you want, but we have to do something now. We have to stop just hoping and waiting on congress to get us out of this global economic crises .
    We have here in America a communications media that can reach all corners of the world, but are more interested in news that do not benefit anybody, unless it is a political candidate. So now it is the time for all media business local national and international in english. spanish, japanese, chinese, italian,german, etc.etc. to rally in support of an all out blitz of an American led global and American economic recovery effort. Every American capable to participate should contribute to this effort to grow our economy and share with the world that what is good for humanity. We have in America a business system that has been tried and proven and growing in the US and internationally. It can be the beginning of what all Americans can do regardless of who you are, by now you may know what it is. The very popular talk radio persons can surely live up to their claim of being great Americans. the internet is also another great source like microsoft, google, yahoo, bing, univision,their help is needed to promote the effort. A system that promotes made in America, sold by Americans, in America and the free world. We have over 200 direct sales companies check dsa.com for information, check videos on you tube, President Clinton talks about direct sales. There are many Americans that have never heard what direct sales is, you can buy weight loss products, energy drinks, cosmetics, and home and mobile phones. tv and internet service, etc. You will pay for a lot of things your entire life why not buy and earn a residual income, the prices are compatible you will have job security, so will the workers and the companies. quick fixes haven’t worked, long term plans are too long, American brands and labels, even canned foods are made in a foreign countries and we just keep on keepin on buying and buying to the point where the majority of jobs will be service jobs. Why are we doing this to ourselves? Are we heading for a disaster? How long will the dollar survive? I believe we have an ace in the hole, direct selling an opportunity that rewards for helping someone in need of help to earn a living, it is happening every day,it is spreading the wealth, and you have to work to get a piece of the pie. This cannot get more American. The ones that do not have can have. The ones that have can have more. What I mean is what the hell is holding us back, do we care what will happen to our children and grandchildren, to the dollar, is it possible that it will shrink so much and make you wanna cry, and want to kick our leaders in the rear for getting us in this mess we are in.OK this is how I think we can fire that silver bullet. Do we want stimulus money?
    Maybe. Would the silver bullet qualify for stimulus money? I don’t know. Americans that are successful in direct selling willing to come to a direct selling center, setup to communicate any where in the world, with live video to show American products, set up with meeting rooms, large screen tvs, training videos, every tool necessary to insure that no one is left behind. Will the powerful American media help promote the silver bullet local and national. The silver bullet on steroids that is what we need Americans working together, we owe this to our men and women see how in uniform Thank you so much. Now lets how American. Americans can be. And God thank you for the blessings you bestowed on me, And God please bless America.

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