Jobs News, Jobs Pictures
The Bureau of Labor Statistics has released jobs numbers for April 2012.
115,000 jobs were added to the U.S. economy in April 2012, while the unemployment rate dropped from 8.2% to 8.1%. The U.S. economy has had 26 straight months of job growth, though the amount of jobs added has slowed from earlier in the year.
Statistics for the February jobs report were revised upwards, adding 19,000 more jobs, and 34,000 more jobs were added to the March report.
In yet another sign of economic recovery in America, new car sales surged to start 2012 at a pace that would be the best the auto industry has had since 2007.
Strong sales in January and February have four auto industry research firms predicting between 13.6 to 14 million new cars will be sold in 2012. Jeff Schuster of LMC Automotive told the Washington Post that, “This is happening because the economy seems to be in a better place.”
VIA Washington Post
The US economy added 227,000 jobs to the economy in February of 2012, according to a report today from the Bureau of Labor Statistics. The unemployment rate remained the same at 8.3%, as signs continue to indicate an economic recovery. The Obama administration is slated to react to the numbers later in the day.
In another sign of economic recovery for the U.S., weekly unemployment applications dipped slightly to 351,000. That is the lowest number since 2008. That is a drop of 2,000 from the previous week.
The figures come a few days after GDP growth was revised upwards to 3.0%.
President Obama is set to ask congress to drop the top corporate tax rate by 7%, from 35% to 28%. The president’s proposal seeks to cut various loopholes and subsidies in exchange for the lowered rate. Administration officials also told The New York Times they would request a minimum tax from multinationals, to discourage hiding profits in offshore accounts.
Conservatives have often complained about the corporate rate, but have often done so while requesting that the corporate subsidies remain in place.
VIA New York Times
The White House has issued a response to the new jobs report showing 243,000 jobs added in January 2012 and the unemployment rate dropping to 8.3%.
Alan B. Krueger, Chairman of the Council of Economic Advisers, explains: “Today’s employment report provides further evidence that the economy is continuing to heal from the worst economic downturn since the Great Depression. It is critical that we continue the economic policies that are helping us to dig our way out of the deep hole that was caused by the recession that began at the end of 2007.”
Krueger goes on to call for an extension of the payroll tax cut, as well as extending unemployment benefits until the end of the year.
He highlights the statistics showing an economic recovery in progress: “The unemployment rate fell 0.2 percentage point to 8.3%, from a high of 10% in October 2009. The drop in unemployment over the month was entirely due to employment growth, as the labor force participation rate remained constant, once new population weights are taken into account. The unemployment rate has fallen by 0.8 percentage point in the last 12 months. Private sector payrolls increased by 257,000 jobs and overall payroll employment rose by 243,000 jobs in January. Despite adverse shocks that have created headwinds for economic growth, the economy has added private sector jobs for 23 straight months, for a total of 3.7 million payroll jobs over that period. In the last 12 months, 2.2 million private sector jobs were added on net.”
At the end, he cautions, “it is important not to read too much into any one monthly report; nevertheless, the trend in job market indicators over recent months is an encouraging sign.”
The unemployment rate dropped to 8.3% in the latest sign of economic recovery for America. According to the Bureau of Labor Statistics, 243,000 jobs were added to the economy in January 2012.
Economists had expected for between 125,000 to 150,000 jobs to be added.
Unemployment claims dropped to 367,000 last week, a sign of an improving labor market under President Obama. That was a drop in 12,000 from the previous report which was revised upwards to 379,000 claims from 377,000.
In eight of the last ten weeks, unemployment claims have been below 400,000.
A new survey from Gallup finds economic confidence in America increasing. On the eve of President Obama’s third State Of The Union, Gallup’s index is at -25 in the week ending January 22. That is an increase from -29 the week before and the best rating since May of 2011. It is also an improvement of 29 points since September of 2011.
Gallup explains that “The Gallup Economic Confidence Index is an average of two components: Americans’ ratings of current economic conditions and their outlook for the economy.”
Dennis Jacobe, Chief Economist for Reuters notes, “U.S. economic confidence continues to improve, consistent with recent modest improvement in unemployment, positive news on jobless claims, and the general perception that the overall U.S. economy is getting slightly better.”
President Obama’s campaign released a new campaign ad today showing the administration’s record of job growth in response to the Bush recession.
The Democratic Party is circulating a graphic showing Mitt Romney’s shifting claims on job creation at Bain Capital. Romney has continually flip-flopped on what jobs — if any — were created during his time as a corporate raider in the private equity industry.
Mitt Romney planned to run against President Obama on the message that “Obama Isn’t Working,” but in recent campaign stops the Republican frontrunner has had to admit that the economy is “getting better.”
Since the Republican campaign begun, the economy has added private sector jobs in each month, while the unemployment figure has dropped. This has forced Romney to recalibrate his campaign message and admit that the economy is “getting better.”
Romney was quick to note that the improvements were “in spite of” President Obama and not because of him, pushing the idea that President Obama’s policies haven’t helped to roll back the Bush Recession.
The concession that the economy is improving could prove to be another obstacle to Romney’s run, conceding a key element of what voters regularly describe as the top issue of the 2012 election. [Washington Monthly]
The Democratic Party has released a new web ad highlighting Mitt Romney’s comments that he likes “being able to fire people.” The ad highlights Romney’s remarks on firing, juxtaposed with details of the layoffs he engineered at Bain Capital that added to his vast personal wealth.
Mitt Romney, who made millions after buying companies and laying off employees, admitted today that “I like being able to fire people.” Romney’s comments came during a meeting with the conservative Chamber of Commerce in Nashua, New Hampshire.
The comments, along with Romney’s claim that “corporations are people” are likely to resonate for the rest of the campaign, contributing to the former Massachusetts governor’s emerging image as a well-heeled corporate raider who has made millions while living a lavish life.
At the same time, Romney is being attacked by a Republican PAC for his record of mass layoffs while at Bain Capital in a film called King of Bain: When Mitt Romney Came To Town.
Romney’s full statement: “I want individuals to have their own insurance. That means the insurance company will have an incentive to keep you healthy. It also means that if you don’t like what they do, you could fire them. I like being able to fire people who provide services to me. You know, if someone isn’t giving the good service, I want to say, I’m going to go get someone else to provide this service to.” [Politico]
There are more signs of economic recovery for the U.S. economy. The unemployment rate has dropped to 8.5% according to the U.S. Labor Department. That is the lowest unemployment rate since February of 2009.
December Nonfarm Jobs increased 200,000 while private sector job growth is up 212,000. November nonfarm payrolls were revised to 100,000 from 120,000 while October nonfarm payrolls were revised to 112,000 from 100,000.
The US economy shows more signs of recovery with a new report showing private sector job growth surging upward in December 2011.
Payroll-processing firm ADP reports that 325,000 private sector jobs were added in December, up from 204,000 in November. That is the largest gain since December 2010, and 145,000 more than economists expected.
The US economy has steadily added private sector jobs since the passage of economic stimulus in 2009, though Republican presidential candidate Mitt Romney falsely claimed no jobs had been created.
Mitt Romney appears to have made a campaign promise he’ll likely be unable to keep.
The former Republican frontrunner, who has had a hard time convincing the Republican base that he’s their man, promised that all college students would have a job if he’s elected president.
ABC News recorded Romney’s comments in New Hampshire while speaking to a 21 year old about why college students should support him over Obama.
Incredibly, Romney said, “What I can promise you is this – when you get out of college, if I’m president you’ll have a job. If President Obama is reelected, you will not be able to get a job.”
Romney didn’t say job prospects would be better if elected, but made a blanket statement that college graduates would all have jobs if he’s elected president — a promise that Romney simply cannot keep.
Speaker Of The House John Boehner completely caved in to President Obama and the Democrats on Thursday evening, agreeing to vote in favor of a two-month extension to payroll tax cuts passed in the Senate.
Boehner had previously been forced to deal with an internal revolt of “tea party” Republican congressmen who balked at the middle-class focused legislation. Boehner reneged on an agreement to pass whatever had been negotiated between both parties in the Senate.
What ensued was near-absurdist Washington theater, with the Speaker and his top lieutenant Rep. Eric Cantor (VA) forced to publicly beg President Obama and Senate Majority Leader Harry Reid to return to Washington and ignore a bill the Senate had already passed. Obama and the Democrats stood their ground, pushing the burden of tax increases on the Republicans.
Boehner also felt criticism from Senate Republicans, including Sen. Scott Brown (MA) and Sen. John McCain (AZ) who urged Boehner to get his tea party caucus in line.
After days of silence, Sen. Mitch McConnell (R-KY) effectively told Boehner to take the deal that had been passed in the Senate, forcing a capitulation to the position of President Obama and the Democrats.
As a result, 160 million Americans will get a tax cut despite the efforts of the tea party movement.
If you’re attractive, it’s just as valuable as a college degree for your career prospects, according to a new study.
The study, from Leuphana University of Luneburg, Germany, used a survey ranking the looks of 3,000 people from 1 to 11 in terms of attractiveness. The study found that the more attractive people were ahead of the rest in terms of pay increases and promotions.
“The results show that just one point above average on the attractiveness scale and the chance of getting employed rises by three percent,” study head Professor Christian Pfeifer wrote in the Applied Economics Letters journal.
He continued, “Five points more — that is about the difference between an ordinary face and downright beauty — helps in getting a job as much as a university degree.”
The study found that the boost in earnings was the same for men and women.
Pfeifer said the disparity may be attributed to an increase in confidence resulting from good looks, or that attractiveness may make a subtle impression on prospective bosses.
Speaker of the House John Boehner appears to need remedial lessons in leadership.
Time and time again, Speaker Boehner has induced whiplash as the tea party element has pulled him in one direction or the other.
When negotiating on the debt ceiling, Boehner walked out on negotiations with President Obama and congressional Democrats when the tea party stamped their feet.
When it was clear that he had promised Senate Minority Leader Mitch McConnell votes if the Senate could agree on a payroll tax cut extension, Boehner reneged when the tea party yanked his leash.
Boehner’s cave-in to the tea party could lead to a tax increase for middle class Americans and even more damaging to the wider economy.
When the House of Representatives convened after the 2010 election, they did not elect him Speaker of just House Republicans, but Speaker of the entire House, third in line to the presidency.
It’s time for Speaker Boehner to lead, to stand up to the extremists in his party and do the work of the American people.
NATIONAL CONFIDENTIAL EDITORIAL BOARD
Speaker John Bohener had a press conference today surrounded by fellow House members in which he asked President Obama to “help out.” Boehner requested that Obama compel the Senate to return to Washington in the wake of Republicans rejecting a Senate deal to extend a payroll tax cut.
Boehner had previously agreed to a deal negotiated between Democrats and Republicans in the Senate, but reneged when Tea Party members rejected the deal.
President Obama, in a surprise appearance at the daily presidential briefing, blasted House Republicans for opposing a two-month extension of payroll tax cuts. Responding to Republican rhetoric that the standoff is a “poker game,” Obama said, “this is not a game.”
The President urged the House to “do the right thing” and follow in the footsteps of the Senate by passing the bill on a bipartisan basis. Obama stressed the urgency of the tax cuts, asking the to “put politics aside” and to “come together on something we agree on.”
Republicans voted in the House to reject a middle class tax cut that passed by an overwhelming margin in the Senate.
Senator Scott Brown is blasting House Republicans for scuttling the middle class tax cut that passed in the Senate. Brown, facing a strong challenge from Democrat Elizabeth Warren, issued a press release blasting House Republicans for their “plan to scuttle the deal to help middle-class families.” Brown described the move from Speaker John Boehner and Majority Leader Eric Cantor as “irresponsible and wrong.”
Brown, who was a champion of the Tea Party movement currently opposing a two month extension of tax cuts, also described his fellow Republicans as “playing politics” rather than “find[ing] solutions.”
Elizabeth Warren, the target of a major attack campaign from Republican boss Karl Rove fueled by Wall Street money, recently moved ahead of Brown in polling.
House Republicans have rejected a measure to cut taxes for the middle class that passed overwhelmingly in the Senate. The measure, which passed 89-10 in the Senate, would have extended a payroll tax cut for middle class earners for two months.
Speaker John Boehner, who previously agreed to the Senate measure, faced a revolt from the Tea Party members of the House, who are opposed to the bipartisan legislation.
Mitt Romney is still making millions of dollars from layoffs engineered by Bain Capital, the private equity firm he helped to start.
As revealed by the New York Times, Romney negotiated a backroom deal with Bain that gave the already wealthy former governor a share of Bain’s profits even after he left the firm.
One of the ways Bain makes its money is from buying up companies then shredding the jobs of many employees in a scheme designed to cut costs. Romney profited when Bain bought KB Toys and laid off thousands of employees.
The funds for one of Romney’s summer homes could have come from the money Bain made when they facilitated a deal that cut 2,500 jobs from radio broadcaster Clear Channel.
On the campaign trail, Romney has not disclosed his financial records or how he has profited from Bain’s buzzsaw. He has claimed that his time in private industry qualifies him to lead the nation.
Speaker John Boehner and House Republicans introduced a payroll tax proposal that would add $192 billion to the deficit between 2012-2021 according to a government analysis. The Congressional Budget Office (CBO) said that the “Middle Class Tax Relief & Job Creation Act” introduced by Bohener would “change revenues and direct spending to produce increases in the deficit of $166.8 billion in fiscal year 2012 and $25.3 billion over the 2012-2021 period.”
The Boehner bill includes a provision to allow creation of the Keystone XL energy pipeline, a provision President Obama said would case a veto of any payroll tax extension bill. The White House and Democrats have counter proposed a payroll tax extension that would be paid for via a surcharge on millionaires and billionaires, something Republicans have refused to wholeheartedly support.
Democratic Minority Leader Nancy Pelosi described Boehner’s bill as “pointless” because it would not be able to pass in the Senate, where Democrats have the majority.
Americans are clamoring for knowledge about income inequality, according to statistics from Google. Google Trends, a service from the search engine that catalogs the popularity of searches, shows that Americans are searching for information on “income inequality” at an all time high. The following graph illustrates the data:
Searches have spiked since the Occupy Wall Street movement begun, and the language of income inequality has been adopted across the political spectrum. President Obama’s speech on Tuesday was largely about income inequality, and what he characterized as Republican failure to address the issue.
Actress Eva Longoria is pushing back on presidential candidate Newt Gingrich’s recent attacks on the work habits of poor children. Gingrich recently claimed that “poor children” have no work habits unless it’s “illegal.”
Writing on her Twitter account, Longoria told Gingrich, “You clearly know little about the Latina community, Latina entrepreneurs who start businesses at 6 times the national average.” According to the National Poverty Center, rates of poverty for latino children are 13% above the national average.
A rant from podcast host Adam Carolla attacking the Occupy Wall Street movement as spoiled children has gone viral and has prompted a response from Mike O’Meara of The Mike O’Meara Show. In the clip, the veteran radio host schools Carolla on factual inaccuracies in his rant, and explains to the former MTV comedian that income inequality has skyrocketed while those who milked the system got away with it. LISTEN:
[video src="http://www.nationalconfidential.com/images/2011/12/mikeomeara-carolla.mp4" poster="http://www.nationalconfidential.com/images/2011/12/themikeomearashow.jpg" width="640" height="360"]
O’Meara can be heard daily at MikeOMearaShow.com
The November jobs report from the Labor department shows an increase of 120,000 non-farm jobs in November of 2011. The unemployment rate has dropped to 8.6%. October’s payrolls have been revised upwards to 100,000 to 80,000. The unemployment rate is the lowest it has been since March of 2009.
In a new official video, Miley Cyrus expresses her support for the Occupy Wall Street movement. The video, titled “Liberty Walks” encourages protesters not to give up.
A report from the Congressional Budget Office shows that as many as 3.3 million full-time jobs were created this past quarter as a result of President Obama’s stimulus program.
The CBO estimates that full-time jobs in the quarter attributable to the stimulus is anywhere between 500,000 to 3.3 million. Republicans have opposed the stimulus, even as they have taken credit for stimulus projects in their home district.
President Obama proposed the stimulus bill, passed largely with Democratic support in the House and Senate after he inherited the recession that began under President Bush. [Politico]
A memo uncovered by NBC News shows a lobbyist firm with ties to House Speaker John Boehner plotting to run a smear campaign versus the Occupy Wall Street movement. The memo, from Clark Lytle Geduldig & Cranford, proposes that the American Bankers Association conduct opposition research in order to create “negative narratives” around those participating in the protest movement.
The memo also noted that an alliance between Occupy Wall Street and the Democratic party “has the potential to have very long-lasting political, policy and financial impacts on the companies in the center of the bullseye.” This narrative runs contrary to the dismissive tone often used against the protesters, particularly in the conservative media — including Fox News.
Two of the memo’s authors — Sam Geduldig and Jay Cranfor — were previously staffers for Speaker John Boehner, which may raise the question of coordination between House Republicans and the multibillion dollar financial firms and their associates.
For a few weeks there has been a concerted effort by many in the media, particularly conservative media, to create negative narratives about the protesters. It is unclear what, if any coordination there has been between the various forces allied against Occupy Wall Street. [MSNBC]
Jobless claims have dropped again, in a sign that the economy may slowly be recovering. The Labor Department reported that dropped 5,000 to a seasonally adjusted 388,000 ending November 12.
Occupy Wall Street protesters were dealt a setback today when a New York state court ruled that while they could return to protest in Zuccotti Park, they could not do so with tents and sleeping bags. Earlier in the day a judge had ruled that protesters would be allowed to camp out at the site.
Early Tuesday morning NYPD forces raided the encampment, forcing protestors to move from the site while confiscating tents and other camping gear.
New York Police began a crackdown early Tuesday morning on the protesters at Zuccotti Park at the heart of the Occupy Wall Street movement. A statement from the owners of Zuccotti Park and the NY government claimed that the police action was a temporary clearing of the area and protesters would be allowed to return.
Reports from the scene indicated that dressed in riot gear, NY police had surrounded the park and shut down the Brooklyn Bridge and at least one subway station.
Police reportedly blocked at least one reporter, Rosie Gray of The Village Voice, from viewing the scene. One report said NYPD was removing observers with cameras from the sidewalk, while a radio reporter for WBAI had a report allegedly interrupted by the police.
The New York Observer reported that photographers from the New York Times, Reuters, and Wall Street Journal had all been blocked from the scene by police.
Reporter ZD Roberts claimed, “NYPD broke my lens with baton. Luckily I’ve got it on video.”
CBS News reported that NYPD were attempting to clear the airspace above Occupy Wall Street, in an apparent attempt to prevent news helicopters from reporting on the event.
In response to the sweep, some protesters sang “America The Beautiful.”
One report claimed that NYPD was using a nonlethal sound control weapon — a so-called LRAD — to disperse the crowd.
Police forcibly removed tents from the park.
Photo via johnknefel
In a sign that the labor market may be improving, weekly jobless claims dropped 10,000. The new report from the Labor Department shows jobless claims at 390,000 for the week ending November 5, lower than the 398,000 forecast by many. Claims from 2 weeks ago were re-adjusted to 400,000.
This is the lowest level of claims since April.
The Democratic Party has released a new ad pressuring Republicans to vote for the president’s proposal to give job credits in exchange for hiring veterans. The new ad explains that “we can’t wait” to pass the bill.
VIDEO: Dems Push Jobs For Veterans
US unemployment has dropped to 9% from 9.1%, while 80,000 jobs were added to the economy. Analysts had expected 100,000 jobs to be added, but there were other positive signs as August and September’s jobs numbers were revised upwards to 102,000. Average hourly earnings have increased.
The economy has begun adding jobs since the package of economic stimulus in 2009. In fall of 2008, in the waning days of the Bush administration, the US economy was losing nearly 850,000 jobs a month.
Despite conservative attacks, support for Occupy Wall Street is rising according to a new poll. The poll, from ORC International, shows a 9% increase in support for the protest movement. Of all respondents, 36% say they support the goals of Occupy Wall Street while only 19% oppose them. A previous poll showed a 27% level of support. [CNN]
A new bombshell report reveals that 30 major US corporations effectively paid no taxes between 2008 and 2010 as they raked in giant profits. The report from Citizens for Tax Justice and the Institute on Taxation and Economic Policy shows that these companies all had negative effective tax rates, meaning that they earned more in profits after accounting for taxes than before.
This tax dodge occurs at a time when America needs revenue to keep the country running and Republicans have opposed Democratic efforts to get major corporations to pay up like citizens do.
Here are the 30 major corporations getting away with fiscal homicide and their effective tax rates. Yes, those are NEGATIVE tax rates.
Pepco Holdings -57.6%
General Electric -45.3%
Paccar -30.5%
PG&E Corp -21.2%
Computer Sciences -18.3%
NiSource -16.4%
CenterPoint Energy -14.7%
Tenet Healthcare -11.6%
Atmos Energy -11.6%
Integrys Energy Group -11.3%
American Electric Power -9.2%
Con-way -9.1%
Ryder System -7.3%
Baxter International -7.1%
Wisconsin Energy -4.9%
Duke Energy -3.9%
DuPont -3.4%
Consolidated Edison -3.0%
Verizon Communications -2.9%
Interpublic Group -2.6%
CMS Energy -2.2%
NextEra Energy -2.2%
Navistar International -2.0%
Boeing -1.8%
Wells Fargo -1.4%
El Paso -1.0%
Mattel -0.9%
Honeywell International -0.7%
DTE Energy -0.7%
Corning -0.2%
The top one percent of Americans doubled their share of the nation’s wealth over the last three decades, according to a shocking new report from the Congressional Budget Office (CBO). The report also details that federal tax policy has not done anything to slow down the rapidly increasing wealth of the super rich.
The study found that the wealth of the rich increased 275% over the last thirty years, while the bottom rung of American society grew 65%.
In recent weeks the Occupy Wall Street protest movement has materialized from coast to coast to protest the inequities of the tax system and the failure to police big business by the government.
President Obama and Democrats have issued proposals that would force the very wealthy to pay more taxes, but these initiatives have been rejected in lockstep by the Republican party, who argue that the rich deserve these breaks. [NY Times]
Demonstrating their solidarity in blocking job initiatives proposed by the opposition party, Senate Republicans blocked a bill that would have provided money to hire teachers and first responders. All of the Senate Republicans, along with two conservative Democrats (Ben Nelson and Mark Pryor) and independent conservative Joe Lieberman, blocked passage of the $35 billion dollar bill.
The blockage of this bill is likely to give more evidence to Democrats who have claimed Republicans are attempting to hobble economic recovery in order to help their party in the 2012 election.
A Tea Party related group recently begun an initiative aimed at stopping companies from hiring employees, arguing that any improvement in jobs could help President Obama’s re-election. [Politico]
President Obama plans to focus his 2012 campaign on a matchup between the people and Wall Street, represented by him and likely GOP nominee Mitt Romney, according to a Washington Post report.
The President has recently struck a more populist tone in his rhetoric, attacking Wall Street excess after many saw too many connections between the financial sector and his administration.
Obama has pushed a jobs plan that has widespread support, which was defeated through unified Republican opposition in the Senate. His administration has indicated that it will continue in this populist manner through the election season.
Mitt Romney, a former venture capitalist who oversaw the layoffs of thousands, recently described corporations as “people” during a campaign event. [Washington Post]
NY mayor Michael Bloomberg called off the planned cleanup of the Occupy Wall Street protest that could have led to a confrontation. Early Friday morning Deputy Mayor Cas Holloway said, “Our position has been consistent throughout: the City’s role is to protect public health and safety, to enforce the law, and guarantee the rights of all New Yorkers. Brookfield believes they can work out an arrangement with the protesters that will ensure the park remains clean, safe, available for public use and that the situation is respectful of residents and businesses downtown, and we will continue to monitor the situation.”
The Occupy Wall Street protesters have already promised to clean up the protest site themselves. [CNN]
Democrats are circulating a memo in which they make it clear they plan to brand the GOP as the party of “Tea Party economics” in the months ahead. The memo makes the case that the unpopularity of the Tea Party skyrocketed after the debt ceiling fight, and that America risks a “Tea Party recession” if the GOP continues to obstruct jobs bills from the President and other Democrats.
The Democratic memo argues that “Tea Party economics” are hurting the economic recovery, citing economists from the left and right who have supported solutions like tax cuts, revenue raisers, and jobs bills that Tea Party-influenced Republicans have rejected.
Senate Republicans unified Tuesday night to oppose President Obama’s American Jobs Act, which some economists said could add up to 2.9 million jobs to the ailing American economy. The bill fell short of the 60 votes required to have a full vote, even though a majority approved of the legislation.
Conservative Democratic Senators Ben Nelson (Nebraska) and Jon Tester (Montana) joined the GOP effort to stop new jobs.
President Obama issued a statement noting that, “Tonight’s vote is by no means the end of this fight. Independent economists have said that the American Jobs Act would grow the economy and lead to nearly two million jobs, which is why the majority of the American people support these bipartisan, common-sense proposals. And we will now work with Senator Reid to make sure that the individual proposals in this jobs bill get a vote as soon as possible.”
Democratic members of congress who plan to vote against President Obama’s jobs bill may just hurt themselves, according to a leading pollster. In an interview with The Washington Post, pollster Stan Greenberg said that “They reduce their risks for reelection by showing support for a jobs bill that’s going to be increasingly popular as voters learn more about it.”
Polls have shown that a massive percentage of voters support the President’s bill, and oppose GOP-led efforts to give the super-rich a pass on taxation. [Washington Post]
In comments from an interview scheduled to appear on tomorrow’s This Week, House Democratic Leader Nancy Pelosi tells Christiane Amanpour that she “support[s] the message to the establishment” being made at the Occupy Wall Street protests.
Pelosi goes on to explain that, “[T]here’s nothing that makes you angrier than not being able to provide for your family or understand what your prospects are for the future. And I do think that, from what we saw after TARP, that the focus on Wall Street was one that they thought was a legitimate place to go: ‘Don’t do this again. Don’t put Main Street at the mercy of Wall Street.’”
Pelosi does caution that protesters shouldn’t “paint everyone on Wall Street with the same brush,” and that “that would not be fair.”
President Obama is fighting back against Rep. Eric Cantor’s opposition to the American Jobs Act. In remarks released by the White House, Obama will say: “Yesterday, the Republican Majority Leader in Congress, Eric Cantor, said that right now, he won’t even let the jobs bill have a vote in the House of Representatives. He won’t even give it a vote.
“Well I’d like Mr. Cantor to come down here to Dallas and explain what in this jobs bill he doesn’t believe in. Does he not believe in rebuilding America’s roads and bridges? Does he not believe in tax breaks for small businesses, or efforts to help veterans?
“Mr. Cantor should come down to Dallas, look Kim Russell in the eye, and tell her why she doesn’t deserve to get a paycheck again. Come tell her students why they don’t deserve to have their teacher back.
“Come tell Dallas construction workers why they should be sitting home instead of fixing our bridges and our schools.
“Come tell the small business owners and workers in this community why you’d rather defend tax breaks for millionaires than tax cuts for the middle-class.
“And if you won’t do that, at least put this jobs bill up for a vote so that the entire country knows exactly where every Member of Congress stands.”
Weekly jobless claims for the week ending September 24th have dropped to 391,0000 from 428,000, an unexpected drop.
The four week moving average for jobless claims has been revised to 417,000 from 422,250.
The GDP for the second quarter of 2011 is reported as 1.3%.
President Obama conducts a town hall meeting at LinkedIn.
Democrats have released a new commercial promoting President Obama’s American Jobs Act. The ad shows benefits of the plan, along with images of Americans going back to work. Some economists have said passing the plan would lead to 1.9 million new jobs. Republicans have repeatedly opposed the bill, and recently sent a letter to the Federal Reserve demanding nothing be done to help the economy.
A new video shows Massachusetts US Senate candidate Elizabeth Warren debunking Republican talking points on class warfare.
In the video being circulated by her campaign Warren notes: “There is nobody in this country who got rich on his own. Nobody. You built a factory out there—good for you! But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that maurauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.”
Republicans have consistently supported tax cut policies for millionaires and the super-rich, despite evidence that the cuts have not helped the economy improve. [Rumproast]
President Obama’s proposal to tax the super-wealthy is approved by most Americans. A new poll from Gallup shows that 66% of respondents support the President’s plan to increase taxes on those making more than a quarter-million dollars a year.
The poll also shows that 70% support cutting corporate loopholes to generate taxes from corporations. Gallup’s poll even shows that a majority of Republicans support this proposal.
Republicans have defended millionaires escaping taxes, accusing President Obama of waging “class warfare.” The President responded, saying “I reject the idea that asking a hedge fund manager to pay the same tax rate as a plumber or a teacher is class warfare. I think it’s just the right thing to do.” [Gallup]
Republican Rep. Steve King (Iowa) announced his opposition to extending unemployment benefits because “we can’t have a nation of slackers.” King’s comments were just the latest in an ongoing rhetorical attack from Republicans against people unemployed as a result of the Bush recession.
While the Congressional Budget Office has said that unemployment benefits can spur economic activity, many Republicans have repeatedly blocked attempts to help the chronically unemployed. [Political Correction]
By a margin of 45% to 32%, more Americans support President Obama’s jobs plan than oppose it in a new Gallup survey. The poll of 1,010 adults shows people are behind the plan which could create 1.9 million jobs according to economists.
Republicans have so far been tepid about the bill, with some telling reporters they would rather oppose a political win for the President than create much-needed jobs. [Gallup]
Republican Majority Leader Eric Cantor said today he opposes President Obama’s American Jobs Act. Cantor claims that the bill is too much like the stimulus, and even though it contains numerous GOP ideas, he opposes spending on infrastructure projects that economists say would create jobs.
Republicans have told the media that they would rather not pass a bill that might help Obama’s political fate, and would rather not help unemployed Americans. [CNN]
Democrats have revealed new ads backing up President Obama’s plan to add jobs to the economy. The ads will run in targeted swing states including Denver; Tampa and Orlando, Fla.; Des Moines, Iowa; Las Vegas; Manchester, N.H.; Raleigh and Charlotte, N.C.; Columbus and Cleveland, Ohio; and Norfolk, Richmond and Roanoke, Va.; they will also run in Washington, D.C.
Republicans are saying they fear helping President Obama to create jobs would be bad for them politically. In a Politico story, Republicans gripe about how passing the American Jobs Act could hurt them politically, even as it creates jobs for Americans.
A Republican aide told the publication, “Obama is on the ropes; why do we appear ready to hand him a win?” Economists estimate that passage of the jobs act could create 1.9 million new jobs.
Valuing Republican wins over American strength has been a drumbeat for the last few years, as the Tea Party-inspired GOP held up a routine raising of the federal debt ceiling, even though those actions may have hurt America’s credit rating. [Politico]
President Obama’s speech promoting the American Jobs Act was one of the most watched of his presidency. 31 million watched, across cable and on broadcast TV. More watched this speech than addresses on Iraq and Afghanistan, but less than the announcement of the death of Bin Laden. [NY Times]
President Obama took his ambitious jobs plan on the road today, promoting the new initiative in Richmond, Virginia. WATCH:
Swing voters approved of President Obama’s speech last night on jobs, according to dial tests conducted by Priorities USA Action and Hart Research. According to Hart, “The dial ratings stayed high throughout virtually all of the President’s proposals—with particularly strong responses to his proposals to invest in America’s infrastructure, modernize America’s schools, continue the payroll tax break for middle-class Americans, provide new tax breaks for small businesses, and put teachers who have been laid off back to work.”
Hart described the speech as a “home run” for the President.
The voters were from Majority Leader Eric Cantor’s district in suburban Richmond, Virginia. Before the speech, less than half of the respondents supported Obama over Republicans on jobs. After the speech, the majority had flipped their support to the President.
President Obama delivered the following speech to a joint session of Congress asking them to pass his proposal for an American Jobs Act.
September 8, 2011
Remarks of President Barack Obama in an Address to a Joint Session of Congress
Mr. Speaker, Mr. Vice President, Members of Congress, and fellow Americans:
Tonight we meet at an urgent time for our country. We continue to face an economic crisis that has left millions of our neighbors jobless, and a political crisis that has made things worse.
This past week, reporters have been asking “What will this speech mean for the President? What will it mean for Congress? How will it affect their polls, and the next election?”
But the millions of Americans who are watching right now: they don’t care about politics. They have real life concerns. Many have spent months looking for work. Others are doing their best just to scrape by – giving up nights out with the family to save on gas or make the mortgage; postponing retirement to send a kid to college.
These men and women grew up with faith in an America where hard work and responsibility paid off. They believed in a country where everyone gets a fair shake and does their fair share – where if you stepped up, did your job, and were loyal to your company, that loyalty would be rewarded with a decent salary and good benefits; maybe a raise once in awhile. If you did the right thing, you could make it in America.
But for decades now, Americans have watched that compact erode. They have seen the deck too often stacked against them. And they know that Washington hasn’t always put their interests first.
The people of this country work hard to meet their responsibilities. The question tonight is whether we’ll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy; whether we can restore some of the fairness and security that has defined this nation since our beginning.
Those of us here tonight can’t solve all of our nation’s woes. Ultimately, our recovery will be driven not by Washington, but by our businesses and our workers. But we can help. We can make a difference. There are steps we can take right now to improve people’s lives.
I am sending this Congress a plan that you should pass right away. It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans – including many who sit here tonight. And everything in this bill will be paid for. Everything.
The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. You should pass this jobs plan right away.
Everyone here knows that small businesses are where most new jobs begin. And you know that while corporate profits have come roaring back, smaller companies haven’t. So for everyone who speaks so passionately about making life easier for “job creators,” this plan is for you.
Pass this jobs bill, and starting tomorrow, small businesses will get a tax cut if they hire new workers or raise workers’ wages. Pass this jobs bill, and all small business owners will also see their payroll taxes cut in half next year. If you have 50 employees making an average salary, that’s an $80,000 tax cut. And all businesses will be able to continue writing off the investments they make in 2012.
It’s not just Democrats who have supported this kind of proposal. Fifty House Republicans have proposed the same payroll tax cut that’s in this plan. You should pass it right away.
Pass this jobs bill, and we can put people to work rebuilding America. Everyone here knows that we have badly decaying roads and bridges all over this country. Our highways are clogged with traffic. Our skies are the most congested in the world.
This is inexcusable. Building a world-class transportation system is part of what made us an economic superpower. And now we’re going to sit back and watch China build newer airports and faster railroads? At a time when millions of unemployed construction workers could build them right here in America?
There are private construction companies all across America just waiting to get to work. There’s a bridge that needs repair between Ohio and Kentucky that’s on one of the busiest trucking routes in North America. A public transit project in Houston that will help clear up one of the worst areas of traffic in the country. And there are schools throughout this country that desperately need renovating. How can we expect our kids to do their best in places that are literally falling apart? This is America. Every child deserves a great school – and we can give it to them, if we act now.
The American Jobs Act will repair and modernize at least 35,000 schools. It will put people to work right now fixing roofs and windows; installing science labs and high-speed internet in classrooms all across this country. It will rehabilitate homes and businesses in communities hit hardest by foreclosures. It will jumpstart thousands of transportation projects across the country. And to make sure the money is properly spent and for good purposes, we’re building on reforms we’ve already put in place. No more earmarks. No more boondoggles. No more bridges to nowhere. We’re cutting the red tape that prevents some of these projects from getting started as quickly as possible. And we’ll set up an independent fund to attract private dollars and issue loans based on two criteria: how badly a construction project is needed and how much good it would do for the economy.
This idea came from a bill written by a Texas Republican and a Massachusetts Democrat. The idea for a big boost in construction is supported by America’s largest business organization and America’s largest labor organization. It’s the kind of proposal that’s been supported in the past by Democrats and Republicans alike. You should pass it right away.
Pass this jobs bill, and thousands of teachers in every state will go back to work. These are the men and women charged with preparing our children for a world where the competition has never been tougher. But while they’re adding teachers in places like South Korea, we’re laying them off in droves. It’s unfair to our kids. It undermines their future and ours. And it has to stop. Pass this jobs bill, and put our teachers back in the classroom where they belong.
Pass this jobs bill, and companies will get extra tax credits if they hire America’s veterans. We ask these men and women to leave their careers, leave their families, and risk their lives to fight for our country. The last thing they should have to do is fight for a job when they come home.
Pass this bill, and hundreds of thousands of disadvantaged young people will have the hope and dignity of a summer job next year. And their parents, low-income Americans who desperately want to work, will have more ladders out of poverty.
Pass this jobs bill, and companies will get a $4,000 tax credit if they hire anyone who has spent more than six months looking for a job. We have to do more to help the long-term unemployed in their search for work. This jobs plan builds on a program in Georgia that several Republican leaders have highlighted, where people who collect unemployment insurance participate in temporary work as a way to build their skills while they look for a permanent job. The plan also extends unemployment insurance for another year. If the millions of unemployed Americans stopped getting this insurance, and stopped using that money for basic necessities, it would be a devastating blow to this economy. Democrats and Republicans in this Chamber have supported unemployment insurance plenty of times in the past. At this time of prolonged hardship, you should pass it again – right away.
Pass this jobs bill, and the typical working family will get a fifteen hundred dollar tax cut next year. Fifteen hundred dollars that would have been taken out of your paycheck will go right into your pocket. This expands on the tax cut that Democrats and Republicans already passed for this year. If we allow that tax cut to expire – if we refuse to act – middle-class families will get hit with a tax increase at the worst possible time. We cannot let that happen. I know some of you have sworn oaths to never raise any taxes on anyone for as long as you live. Now is not the time to carve out an exception and raise middle-class taxes, which is why you should pass this bill right away.
This is the American Jobs Act. It will lead to new jobs for construction workers, teachers, veterans, first responders, young people and the long-term unemployed. It will provide tax credits to companies that hire new workers, tax relief for small business owners, and tax cuts for the middle-class. And here’s the other thing I want the American people to know: the American Jobs Act will not add to the deficit. It will be paid for. And here’s how:
The agreement we passed in July will cut government spending by about $1 trillion over the next ten years. It also charges this Congress to come up with an additional $1.5 trillion in savings by Christmas. Tonight, I’m asking you to increase that amount so that it covers the full cost of the American Jobs Act. And a week from Monday, I’ll be releasing a more ambitious deficit plan – a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run.
This approach is basically the one I’ve been advocating for months. In addition to the trillion dollars of spending cuts I’ve already signed into law, it’s a balanced plan that would reduce the deficit by making additional spending cuts; by making modest adjustments to health care programs like Medicare and Medicaid; and by reforming our tax code in a way that asks the wealthiest Americans and biggest corporations to pay their fair share. What’s more, the spending cuts wouldn’t happen so abruptly that they’d be a drag on our economy, or prevent us from helping small business and middle-class families get back on their feet right away.
Now, I realize there are some in my party who don’t think we should make any changes at all to Medicare and Medicaid, and I understand their concerns. But here’s the truth. Millions of Americans rely on Medicare in their retirement. And millions more will do so in the future. They pay for this benefit during their working years. They earn it. But with an aging population and rising health care costs, we are spending too fast to sustain the program. And if we don’t gradually reform the system while protecting current beneficiaries, it won’t be there when future retirees need it. We have to reform Medicare to strengthen it.
I’m also well aware that there are many Republicans who don’t believe we should raise taxes on those who are most fortunate and can best afford it. But here is what every American knows. While most people in this country struggle to make ends meet, a few of the most affluent citizens and corporations enjoy tax breaks and loopholes that nobody else gets. Right now, Warren Buffet pays a lower tax rate than his secretary – an outrage he has asked us to fix. We need a tax code where everyone gets a fair shake, and everybody pays their fair share. 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.
I’ll also offer ideas to reform a corporate tax code that stands as a monument to special interest influence in Washington. By eliminating pages of loopholes and deductions, we can lower one of the highest corporate tax rates in the world. Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America.
So we can reduce this deficit, pay down our debt, and pay for this jobs plan in the process. But in order to do this, we have to decide what our priorities are. We have to ask ourselves, “What’s the best way to grow the economy and create jobs?”
Should we keep tax loopholes for oil companies? Or should we use that money to give small business owners a tax credit when they hire new workers? Because we can’t afford to do both. Should we keep tax breaks for millionaires and billionaires? Or should we put teachers back to work so our kids can graduate ready for college and good jobs? Right now, we can’t afford to do both.
This isn’t political grandstanding. This isn’t class warfare. This is simple math. These are real choices that we have to make. And I’m pretty sure I know what most Americans would choose. It’s not even close. And it’s time for us to do what’s right for our future.
The American Jobs Act answers the urgent need to create jobs right away. But we can’t stop there. As I’ve argued since I ran for this office, we have to look beyond the immediate crisis and start building an economy that lasts into the future – an economy that creates good, middle-class jobs that pay well and offer security. We now live in a world where technology has made it possible for companies to take their business anywhere. If we want them to start here and stay here and hire here, we have to be able to out-build, out-educate, and out-innovate every other country on Earth.
This task, of making America more competitive for the long haul, is a job for all of us. For government and for private companies. For states and for local communities – and for every American citizen. All of us will have to up our game. All of us will have to change the way we do business.
My administration can and will take some steps to improve our competitiveness on our own. For example, if you’re a small business owner who has a contract with the federal government, we’re going to make sure you get paid a lot faster than you do now. We’re also planning to cut away the red tape that prevents too many rapidly-growing start-up companies from raising capital and going public. And to help responsible homeowners, we’re going to work with Federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4% — a step that can put more than $2,000 a year in a family’s pocket, and give a lift to an economy still burdened by the drop in housing prices.
Other steps will require Congressional action. Today you passed reform that will speed up the outdated patent process, so that entrepreneurs can turn a new idea into a new business as quickly as possible. That’s the kind of action we need. Now it’s time to clear the way for a series of trade agreements that would make it easier for American companies to sell their products in Panama, Colombia, and South Korea – while also helping the workers whose jobs have been affected by global competition. If Americans can buy Kias and Hyundais, I want to see folks in South Korea driving Fords and Chevys and Chryslers. I want to see more products sold around the world stamped with three proud words: “Made in America.”
And on all of our efforts to strengthen competitiveness, we need to look for ways to work side-by-side with America’s businesses. That’s why I’ve brought together a Jobs Council of leaders from different industries who are developing a wide range of new ideas to help companies grow and create jobs.
Already, we’ve mobilized business leaders to train 10,000 American engineers a year, by providing company internships and training. Other businesses are covering tuition for workers who learn new skills at community colleges. And we’re going to make sure the next generation of manufacturing takes root not in China or Europe, but right here, in the United States of America. If we provide the right incentives and support – and if we make sure our trading partners play by the rules – we can be the ones to build everything from fuel-efficient cars to advanced biofuels to semiconductors that are sold all over the world. That’s how America can be number one again. That’s how America will be number one again.
Now, I realize that some of you have a different theory on how to grow the economy. Some of you sincerely believe that the only solution to our economic challenges is to simply cut most government spending and eliminate most government regulations.
Well, I agree that we can’t afford wasteful spending, and I will continue to work with Congress to get rid of it. And I agree that there are some rules and regulations that put an unnecessary burden on businesses at a time when they can least afford it. That’s why I ordered a review of all government regulations. So far, we’ve identified over 500 reforms, which will save billions of dollars over the next few years. We should have no more regulation than the health, safety, and security of the American people require. Every rule should meet that common sense test.
But what we can’t do – what I won’t do – is let this economic crisis be used as an excuse to wipe out the basic protections that Americans have counted on for decades. I reject the idea that we need to ask people to choose between their jobs and their safety. I reject the argument that says for the economy to grow, we have to roll back protections that ban hidden fees by credit card companies, or rules that keep our kids from being exposed to mercury, or laws that prevent the health insurance industry from shortchanging patients. I reject the idea that we have to strip away collective bargaining rights to compete in a global economy. We shouldn’t be in a race to the bottom, where we try to offer the cheapest labor and the worst pollution standards. America should be in a race to the top. And I believe that’s a race we can win.
In fact, this larger notion that the only thing we can do to restore prosperity is just dismantle government, refund everyone’s money, let everyone write their own rules, and tell everyone they’re on their own – that’s not who we are. That’s not the story of America.
Yes, we are rugged individualists. Yes, we are strong and self-reliant. And it has been the drive and initiative of our workers and entrepreneurs that has made this economy the engine and envy of the world.
But there has always been another thread running throughout our history – a belief that we are all connected; and that there are some things we can only do together, as a nation.
We all remember Abraham Lincoln as the leader who saved our Union. But in the middle of a Civil War, he was also a leader who looked to the future – a Republican president who mobilized government to build the transcontinental railroad; launch the National Academy of Sciences; and set up the first land grant colleges. And leaders of both parties have followed the example he set.
Ask yourselves – where would we be right now if the people who sat here before us decided not to build our highways and our bridges; our dams and our airports? What would this country be like if we had chosen not to spend money on public high schools, or research universities, or community colleges? Millions of returning heroes, including my grandfather, had the opportunity to go to school because of the GI Bill. Where would we be if they hadn’t had that chance?
How many jobs would it have cost us if past Congresses decided not to support the basic research that led to the Internet and the computer chip? What kind of country would this be if this Chamber had voted down Social Security or Medicare just because it violated some rigid idea about what government could or could not do? How many Americans would have suffered as a result?
No single individual built America on their own. We built it together. We have been, and always will be, one nation, under God, indivisible, with liberty and justice for all; a nation with responsibilities to ourselves and with responsibilities to one another. Members of Congress, it is time for us to meet our responsibilities.
Every proposal I’ve laid out tonight is the kind that’s been supported by Democrats and Republicans in the past. Every proposal I’ve laid out tonight will be paid for. And every proposal is designed to meet the urgent needs of our people and our communities.
I know there’s been a lot of skepticism about whether the politics of the moment will allow us to pass this jobs plan – or any jobs plan. Already, we’re seeing the same old press releases and tweets flying back and forth. Already, the media has proclaimed that it’s impossible to bridge our differences. And maybe some of you have decided that those differences are so great that we can only resolve them at the ballot box.
But know this: the next election is fourteen months away. And the people who sent us here – the people who hired us to work for them – they don’t have the luxury of waiting fourteen months. Some of them are living week to week; paycheck to paycheck; even day to day. They need help, and they need it now.
I don’t pretend that this plan will solve all our problems. It shouldn’t be, nor will it be, the last plan of action we propose. What’s guided us from the start of this crisis hasn’t been the search for a silver bullet. It’s been a commitment to stay at it – to be persistent – to keep trying every new idea that works, and listen to every good proposal, no matter which party comes up with it.
Regardless of the arguments we’ve had in the past, regardless of the arguments we’ll have in the future, this plan is the right thing to do right now. You should pass it. And I intend to take that message to every corner of this country. I also ask every American who agrees to lift your voice and tell the people who are gathered here tonight that you want action now. Tell Washington that doing nothing is not an option. Remind us that if we act as one nation, and one people, we have it within our power to meet this challenge.
President Kennedy once said, “Our problems are man-made – therefore they can be solved by man. And man can be as big as he wants.”
These are difficult years for our country. But we are Americans. We are tougher than the times that we live in, and we are bigger than our politics have been. So let’s meet the moment. Let’s get to work, and show the world once again why the United States of America remains the greatest nation on Earth. Thank you, God bless you, and may God bless the United States of America.
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Excerpts Of Obama Speech On American Jobs Act Released: “Pass This Jobs Plan Right Away”
The White House has released early excerpts of his planned speech tonight on the American Jobs Act.
Excerpts of the President’s Speech on the American Jobs Act
The people of this country work hard to meet their responsibilities. The question tonight is whether we’ll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy; whether we can restore some of the fairness and security that has defined this nation since our beginning.
Those of us here tonight cannot solve all of our nation’s woes. Ultimately, our recovery will be driven not by Washington, but by our businesses and our workers. But we can help. We can make a difference. There are steps we can take right now to improve people’s lives.
I am sending this Congress a plan that you should pass right away. It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans – including many who sit here tonight. And everything in this bill will be paid for. Everything.
The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. You should pass this jobs plan right away.
###
President Obama is scheduled to visit Columbus, Ohio in order to tout his American Jobs Act. According to the White House, Obama will travel on Tuesday, September 13 to discuss passage of his proposal.
Watch President Obama’s joint session to congress on the subject of jobs here:
The White House has released a list of invited guests who will appear sit in the First Lady’s Box during the prime time jobs speech slated for tonight. Notables include GE Chairman Jeffrey Immelt, American Express Chairman Kenneth Chenault, AFL-CIO president Richard Trumka, and Maryland Governor Martin O’Malley.
Average Americans are also included in the line up. Single mother Tamara Washington, firefighter Jessica Pickett, third grade teacher Nicole Gentile and more.
Here is the entire list, as released by the White House:
Jeffrey Immelt
Jeffrey R. Immelt is the ninth chairman and CEO of GE, a post he has held since September 7, 2001. Immelt currently serves as the chairman of the President’s Council on Jobs and Competitiveness. Immelt has held several global leadership positions since coming to GE in 1982, including roles in GE’s Plastics, Appliance, and Medical businesses. In 1989 he became an officer of GE and joined the GE Capital Board in 1997. In 2000, Immelt was appointed president and chief executive officer. Immelt has been named one of the “World’s Best CEOs” three times by Barron’s, and since he began serving as chief executive officer, GE has been named “America’s Most Admired Company” in a poll conducted by Fortune magazine and one of “The World’s Most Respected Companies” in polls by Barron’s and the Financial Times. Immelt is also a member of The Business Council, and he is on the board of the New York Federal Reserve Bank. Mr. Immelt earned a B.A. degree in applied mathematics from Dartmouth College in 1978 and an M.B.A. from Harvard University in 1982. He and his wife have one daughter.
Steve Case
Steve Case, currently chairman & CEO of Revolution LLC and chairman of the Startup America Partnership, is one of America’s most accomplished entrepreneurs and philanthropists. Steve co-founded America Online in 1985, and under his leadership, AOL became the world’s largest and most valuable Internet company. In 2005, Steve founded Revolution LLC, focused on investing in and building disruptive, innovative, consumer-facing companies such as Zipcar, LivingSocial and Exclusive Resorts. Earlier this year at the White House, Case helped launch the Startup America Partnership, an independent private-sector coalition delivering strategic and substantive resources to help entrepreneurs start and scale companies across the U.S., in response to the President’s call to action. Case also serves as a co-chair of the National Advisory Council on Innovation and Entrepreneurship, and is a member of the President’s Council on Jobs and Competitiveness, where he co-chairs the working group on high-growth companies. In addition, Steve chairs the Case Foundation, which seeks to tap new technologies and entrepreneurial approaches to help strengthen the social sector.
Darlene Miller
Darlene Miller is a small business owner and CEO of Permac Industries, a precision machining company custom manufacturing precision parts for customers worldwide in virtually all industries located in Burnsville, Minnesota. Miller currently serves as a member of the President’s Council on Jobs and Competitiveness. She started working as a Sales Representative at Permac in 1992, became part owner in 1993 to 100% ownership of the company in 1994. Under Miller’s leadership Permac Industries was named the U.S. Chamber Small Business of the Year for the entire USA in 2008. Miller is currently a member of the U.S. Chamber Board of Directors and Advisory Council, board of directors for PMPA and MPMA (Manufacturing Trade Associations), and the Minnesota Valley Medical Manufacturers network (MEDNET), which she co-founded in 2006.
Kenneth Chenault
Kenneth Chenault is the Chairman and CEO of American Express Company. Ken Chenault joined American Express in September 1981 and assumed his current responsibilities as CEO and Chairman in 2001. Chenault currently serves as a member of the President’s Council on Jobs and Competitiveness. Chenault serves on the boards of American Express and several other corporate and nonprofit organizations, including IBM, The Procter & Gamble Company, the Arthur Ashe Institute for Urban Health, the National Center on Addiction & Substance Abuse at Columbia University, the Smithsonian Institution’s Advisory Council for the National Museum of African American History & Culture, and the World Trade Center Memorial Foundation. He also is on the boards of the Partnership for New York City, The Business Council and the Business Roundtable and serves as Vice Chairman of each of these organizations.
Richard Trumka
Richard Trumka is the president of the AFL-CIO. Mr. Trumka was elected president of the AFL-CIO in September 2009. His election followed 14 years of service as Secretary-Treasurer of the AFL-CIO. Trumka is a third-generation coal miner from Nemacolin, Penn., began working in the mines at age 19. Trumka currently serves as a member of the President’s Council on Jobs and Competitiveness. As a member of UMWA Local 6290, he served as Chairman of the Safety Committee. He soon became an activist in the Miners for Democracy reform movement. Trumka worked in the mines for more than seven years, supporting himself while attending Pennsylvania State University, where earned a Bachelor of Science degree, and through Villanova University, where he received a law degree. He served four years on the legal staff of the United Mine Workers before returning to the coal mines in 1979. He was elected to the UMWA executive board in 1981 and elected international president in 1982.
Governor Martin O’Malley
Governor Martin O’Malley is currently serving his second term as governor of Maryland. He also serves as the chair of the Democratic Governors Association and co-chair of the National Governor’s Association’s Special Committee on Homeland Security and Public Safety. Prior to assuming the governorship, O’Malley served on the Baltimore City Council from 1991 to 1999, was appointed assistant state’s attorney for the city of Baltimore, and then served as the Mayor of Baltimore for two terms. As Governor, O’Malley has focused on job creation by spurring innovation in all sectors of business, academia, and government. O’Malley holds a BA from Catholic University and JD from the University of Maryland. He and his wife, Katie, a District court judge have four children.
Mayor Mark Mallory
A lifelong Cincinnatian, Mallory was elected Mayor of Cincinnati in 2005 and won a second term in 2009. In 1994, he succeeded his father, Majority Floor Leader William L. Mallory, Sr., in the Ohio House of Representatives. Four years later, he moved to the Ohio Senate where he rose to the position of Assistant Minority Leader. He is the first directly-elected black Mayor of Cincinnati and holds a bachelor’s degree from the University of Cincinnati.
Mayor Antonio Villaraigosa
Antonio Villaraigosa was first elected mayor in 2005, then re-elected in 2009. He is the current resident of the U.S. Conference of Mayors (USCM). In 2008, Mayor Villaraigosa passed a sales tax increase to invest in creating 166,000 transportation jobs in Los Angeles. As president of USCM, he has led a bipartisan coalition of 165 mayors in support of an extension of the transportation reauthorization bill.
Dr. Albert Green
Dr. Green is CEO of Kent Displays, a rapidly expanding small business in Kent, Ohio, and serves on its Board of Directors. He has held these positions since joining the company in June 2007. In February, Dr. Green participated in the “Winning the Future Small Business Forum” in Cleveland. As Kent Displays CEO, he has used his unique skill set to drive development and commercialization of the company’s Reflex™ No Power LCDs for several high growth applications including eReaders, eWriters, electronic skins and eCard displays. Since Dr. Green took the reins of Kent Displays CEO in 2007, he has guided the company’s transition from a focus on research and development to product development and manufacturing. Under his leadership, Kent Displays successfully launched the award-winning Boogie Board LCD Writing Tablet in 2010 and formed Improv Electronics, a Kent Displays subsidiary focused on consumer products. The tablet’s writing surface is a flexible Reflex LCD manufactured on the world’s only roll-to-roll LCD production line, which began operation in 2008 at the company’s headquarters in Kent, Ohio. This successful consumer product has driven a doubling of revenue and employment in the past 2 years.
Jan Heister
Jan Heister is president and chairperson of the Board of Directors for Premier Tooling and Mfg., Inc. in Peosta, Iowa. Jan participated in a small business session during the Rural Economic Forum in Peosta, Iowa last month. Jan originally became involved in the office and administrative operations of Premier to relieve James Heister of a number of duties in these areas. These duties have expanded over the past few years to encompass her current total management of the company. Prior to joining Premier, Jan worked in hospital and clinic settings as a Registered Nurse. While working in the hospital she served as supervisor of an operating room, recovery room, and charge nurse on the medical-surgical unit. She has also worked 12 years as an office nurse in an orthopedic clinic. Jan is a graduate of The Finley Hospital School of Nursing.
Philip Maung
Philip Maung is a small business owner and founder of Hissho Sushi, a 200-employee company headquartered in southwest Charlotte that trains sushi chefs and distributes ingredients for the food across the country. The company was founded 13 years ago. The company has grown consistently in the past decade, including a 62 percent increase in revenues last year. Philip Maung arrived in America with just $13 in his pocket and a dream of making a new life. He pursued the emerging supermarket sushi industry and spent years learning every facet of the sushi business. In 1998, Philip and his wife Kristina pooled their finances to form Hissho Sushi and founded the company in the family dining room. The company began providing fresh sushi daily to supermarkets and cafes. Today, Hissho Sushi is a dynamic foodservice and distribution company managing and operating more than 400 sushi bars across the U.S. Their 46,000 square foot, state-of-the-art headquarters are located in Charlotte, NC.
Gracey Ibarra
Gracey Ibarra, a mother of two children, is a 2009 high school graduate and has earned her Certified Nursing Assistant (CNA) certification. Gracey enrolled in the WIA Youth Program through Inter-County Community Council, which combined education with clinical experience and led her to a career in the medical field. She currently works as a CNA in a nursing home.
Joseph Kidd
Joseph Kidd, a 30 year old father, joined the U.S. Navy in 2003 and completed Hospital Corpsman School. Upon graduation, Kidd received his orders to Naval Hospital Okinawa, in Japan. Once his rotation was complete, he moved to Camp Lejeune, NC. While at Camp Lejeune, Kidd was attached to a Marine Corps command, and deployed to Iraq in 2007. After he returned from Iraq, his daughter was born in January of 2009, and he was deployed again in May of 2009 as part of the 22D Marine Expeditionary Unit. Once Kidd returned, he was appointed to the Emergency Room at Camp Lejeune and later became the Leading Petty Officer. In April 2011, Kidd received his separation orders. In August, Kidd was one of five veterans to eat lunch with President Obama in Cannon Falls, MN during the rural bus tour. Kidd asked the President to help with credentialing programs that would allow a service member to take his or her skills from the military directly into the private sector. The President’s staff is now actively working on the concept of a “career ready military.” In late August, Kidd returned to school and studying pre-nursing.
John Raftery
John Raftery served in the U.S. Marine Corp with 1st Marine Division and currently serves as the president and CEO of Patriot Contractors, a construction firm, specializing in interior and exterior architectural specialties. A service-disabled, veteran-owned company founded in 2007, John has seen growth in revenues and employees each and every year of operation. Today, Patriot Contractors has 21 employees. In 2010, John’s company generated revenues that hit $2M, and he is on track to exceed $5M in 2011. John is a 2007 graduate of the Entrepreneurship Bootcamp for Veterans at Syracuse University and holds a BBS from Dallas Baptist University.
Nicole Gentile
Nicole Gentile, married with two children, is a third grade teacher at Marion-Sterling Elementary in Cleveland, Ohio. She is at risk of being laid off given the district’s budget situation. Thirteen of her colleagues are also at risk of being laid off.
Kelcie Fisher
Kelcie Fisher is currently a senior at Open High, a Blue Ribbon school located in downtown Richmond, Virginia. Open High School will be 100 years old this year and needs to be modernized. Born and raised in Richmond, Kelcie has been a part of the Richmond Public Schools family throughout her entire educational career.
Hector R. Sealey
Hector Sealey began working with Fort Myer Construction in August 2006 and continues as corporate director of safety, risk management and compliance officer for the corporation. Sealey has 18 years of safety and quality control management experience and 4 years of project management, with an overall of 30 years experience in the construction industry. Hector, along with almost a million workers, is at risk of losing his job if Congress does not act and the transportation bill expires. Hector joined President Obama in the Rose Garden when he called for a clean extension of the transportation bill last month.
Kirk Bergstrom
Kirk Bergstrom, 43, is a project engineer with Denver Transit Partners (DTP), the consortium of investment, engineering, construction and operations and maintenance companies currently executing the $2 billion Eagle Public-Private Partnership in Denver, Colorado. The Eagle P3 Project is a new commuter railroad line that will connect Downtown Denver and Denver International Airport and also downtown with a portion of western Denver. Before the Eagle P3 Project, Kirk was going to have to leave his family and travel back-and-forth to Kansas to work on another construction project. DTP, thanks to this federally funded project, was able to give him a career close to his home.
David Catalano
In 2006 David Catalano co-founded Modea, a digital advertising agency in Blacksburg, VA. In five short years as president, Catalano and his executive team have grown the company 75-100% each year – eclipsing $10 million in annual revenue. Catalano has been able to maintain his home in rural Virginia and build a globally competitive company, highlighting the importance of the need to provide high speed broadband access to all parts of the country. Modea has hired over 80 creative professionals from across the country. In the late 90s Catalano came to Blacksburg, VA to pursue a degree at Virginia Tech. Halfway through his senior year, Catalano put his degree on hold to co-found a product marketing agency producing content for the largest e-commerce sites on the web. After leading it to profitability in 2005, Catalano left the company to finish his Finance degree and start Modea.
Dannie and Sabrina Mangrum
Dannie Mangrum is a Maryland corrections officer and Sabrina is getting her teaching degree at Coppin State. The couple has two sons and a daughter, and is earnestly anticipating the adoption of three foster children. A tax cut would benefit their family as they are looking for ways to provide for their children and their education.
Jessica Pickett
Technician Jessica T. Pickett joined Fairfax County Fire and Rescue Department in April 2006 where she currently functions as a field Firefighter/Medic. Technician Pickett is actively involved with the International Association of Fire Fighters Local 2068 and serves as the Chairperson of the EMS Committee. Technician Pickett was awarded the Fairfax County Chamber of Commerce Certificate of Valor in 2010 for actions involving personal risk and demonstration of judgment beyond the expected performance of duties. Prior to joining the Fairfax County Fire and Rescue Department, Technician Pickett studied Biological Sciences at The George Washington University in Washington, DC and was a George C. Marshall Scholar and Rhodes Scholarship finalist.
Marlena Clark
Marlena Clark is a graduate of Anne Arundel Community College (AACC) and a resident of Maryland. After working a number of minimum wage jobs and worrying about her future, she decided that her local community college would provide the best opportunity for a career path to success. She worked two jobs, as a housekeeper and a bartender, while taking courses in the Information Systems Security program at Anne Arundel. While enrolled at community college, Marlena was involved in a mentoring program focused on retaining women in IT careers and was able to participate in an internship at a local IT company. She is now a full-time systems engineer at the company, supporting the sales team and customers with networking solutions. As part of her ongoing outreach on community colleges, Dr. Biden visited Anne Arundel Community College last September to highlight the school’s workforce development programs.
Tamara Washington
Tamara Washington is a single mother, taking care of her 3 year old son Amir, in Torrance, CA. Tamara believes her hard work will enable her to provide quality healthcare and education for her son. While it has not been easy, many programs and organizations were there to help, including subsidized employment in the Temporary Assistance for Needy Families (TANF) Emergency Contingency Fund, which allowed her to obtain a job that enabled her to support her son.
President Obama tonight will unveil his proposal for an “American Jobs Act” in a prime time speech to a joint session of congress. The plan is designed to create new American jobs and the White House touts the fact that it will not add to the deficit.
The President’s plan involves tax cuts for small business, putting people back to work – including laid off teachers, veterans, first responders and construction workers, and help for those facing long-term unemployment.
The plan will be paid for by closing corporate tax loopholes while getting a “fair share” from the richest, who have had massive tax cuts over the last decade.
The government has released another disappointing jobs report, indicating no change in the amount of nonfarm jobs in the United States. The unemployment rate remains at 9.1%.
Speaker John Boehner has decided to have a temper tantrum in public, going back on an agreement with the Obama White House for a prime time presidential speech on September 7th. According to senior administration officials who spoke to The Huffington Post, Obama had already cleared the September 7 date with Boehner’s team.
After the White House released their request, Boehner pulled the rug out under the president and sent out a letter that claimed the House would be unable to accomodate the President and that the speech should be rescheduled. [Sam Stein]
President Obama is slated to give a major jobs push in September, with a series of initiatives designed to push back versus unemployment. The Associated Press reports that Obama plans to promote tax cuts, jobs-boosting infrastructure ideas and long-term help for the unemployed. Obama is also going to make a major deficit-cutting proposal, far beyond what congress has already passed. [AP]
(National Confidential) — The White House has released the text of President Obama’s statement on the most recent jobs report. (more…)
(National Confidential) — There are too many lawyers in America. A new study by consulting firm Economic Modeling Specialists Inc. found that every state except Wisconsin, Nebraska, and the District of Columbia is producing more lawyers than is needed. (more…)
Forbes has revealed their list of America’s top 10 highest paying jobs for 2011. Here they are: (more…)
The new CEO of Chrysler said that Republican presidential candidate Mitt Romney was “smoking illegal material” to oppose President Obama’s plan that saved the auto industry. (more…)
CNBC: “Industry forecaster IHS Global Insight, in a report prepared for the U.S. Mayors Conference estimates a potential for 4.2 million new green jobs over the next 30 years.
“The potential growth in green jobs is significant,” the report concluded. “It could be the fastest growing segment of the U.S. economy over the next several decades and dramatically increase its share of total employment. “”
Windmill Farm
NY Times: “The Labor Department reported on Friday that the United States added 54,000 nonfarm payroll jobs last month, following an increase of 232,000 jobs in April. May’s job gain was about a third of what economists had been forecasting. “
Americans applying for unemployment benefits dropped to 404,000 in a good sign for the country’s ongoing economic recovery under President Obama. The Labor Department said that the drop in claims was larger than expected.
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