obama's plan: infrastructure and "green energy"

[jk]

In his speech in Janesville, Mr. Obama proposed creating a National Infrastructure Reinvestment Bank to invest $60 billion over 10 years and create nearly 2 million new jobs in the construction field. He said the program would be paid for by ending the Iraq war. He also renewed his call to create an energy plan to invest $150 billion over 10 years to establish a “green energy sector” to add up to 5 million jobs in the next two decades.

“It’s time to stop spending billions of dollars a week trying to put Iraq back together and start spending the money on putting America back together instead,” Mr. Obama said. He added, “We’ll also provide funding to help manufacturers convert to green technology and help workers learn the skills they need for these jobs.”


[emphasis added. these were the only specific proposals noted in the times article]

http://thecaucus.blogs.nytimes.com/2...omy/#more-4240

[FRED]

Re: obama's plan: infrastructure and "green energy"

In his speech in Janesville, Mr. Obama proposed creating a National Infrastructure Reinvestment Bank to invest $60 billion over 10 years and create nearly 2 million new jobs in the construction field. He said the program would be paid for by ending the Iraq war. He also renewed his call to create an energy plan to invest $150 billion over 10 years to establish a “green energy sector” to add up to 5 million jobs in the next two decades.

“It’s time to stop spending billions of dollars a week trying to put Iraq back together and start spending the money on putting America back together instead,” Mr. Obama said. He added, “We’ll also provide funding to help manufacturers convert to green technology and help workers learn the skills they need for these jobs.”


[emphasis added. these were the only specific proposals noted in the times article]

http://thecaucus.blogs.nytimes.com/2...omy/#more-4240

So we're all voting for Obama then?

[jk]

Re: obama's plan: infrastructure and "green energy"

So we're all voting for Obama then?

i already have [in a primary].

[Guest]

Re: obama's plan: infrastructure and "green energy"

JK -

<< He said the program would be paid for by ending the Iraq war. >> :confused: :confused:

The budgetary math escapes me. Does this mean that when the Iraq war is ended, there will persist a future cash stream from a phantom Iraq war continuing, that we'll then divert to this energy program?

How do we "get" funds equivalent to the Iraq war expenditure "from nowhere" after we stop spending on the Iraq war?

In plain-speak what this means is we'll keep scaring up the deficit spending after we end the Iraq war, but we'll put it into green energy.

That's fine. I only object to the fiscal "candy coating". When you find one bit of candy coating, other bits can't be far behind. Mind you, the present incumbent makes him look absolutely brilliant.

[Slimprofits]

Re: obama's plan: infrastructure and "green energy"

The recent Brookings Institution event and report on infrastructure calls it a U.S. Capital Budget, that is seperate from the rest of the federal budget.

[jk]

Re: obama's plan: infrastructure and "green energy"

The recent Brookings Institution event and report on infrastructure calls it a U.S. Capital Budget, that is seperate from the rest of the federal budget.

there have been periodic calls over the years for the federal government to have a separate capital budget. you get some interesting questions, like: over how many years do you depreciate a tank? of course, if it were done it would also invite capitalizing lots of ongoing expenses in one form or another. don't hold your breath.

[Slimprofits]

Re: obama's plan: infrastructure and "green energy"

Here is a great line from Obama's speech. This is the New, New Deal speech.

In the end, this economic agenda won’t just require new money.....

and here are the proposals:

So today, I’m laying out a comprehensive agenda to reclaim our dream and restore our prosperity. It’s an agenda that focuses on three broad economic challenges that the next President must address – the current housing crisis; the cost crisis facing the middle-class and those struggling to join it; and the need to create millions of good jobs right here in America– jobs that can’t be outsourced and won’t disappear.

[..]

I am the only candidate in this race who’s proposed a genuine middle-class tax cut that will provide relief to 95% of working Americans. This is a tax cut –paid for in part by closing corporate loopholes and shutting down tax havens – that will offset the payroll tax that working Americans are already paying, and it’ll be worth up to $1000 for a working family. We’ll also eliminate income taxes for any retiree making less than $50,000 per year, because our seniors are struggling enough with rising costs, and should be able to retire in dignity and respect. Since the Earned Income Tax Credit lifts nearly 5 million Americans out of poverty each year, I’ll double the number of workers who receive it and triple the benefit for minimum wage workers. And I won’t wait another ten years to raise the minimum wage – I’ll guarantee that it keeps pace with inflation every single year so that it’s not just a minimum wage, but a living wage.

[..]

My universal health care plan brings down the cost of health care more than any other candidate in this race, and will save the typical family up to $2500 a year on their premiums. Every American would be able to get the same kind of health care that members of Congress get for themselves, and we’d ban insurance companies from denying you coverage because of a pre-existing condition.

[..]

So I’ll create a new and fully refundable tax credit worth $4,000 for tuition sand fees every year, a benefit that students will get in exchange for community or national service, which will cover two-thirds of the tuition at the average public college or university.

[..]

That’s why we’ll require employers to enroll every worker in a direct deposit retirement account that places a small percentage of each paycheck into savings.

[..]

To make sure that Americans know what they’re signing up for, I’ll institute a five-star rating system to inform consumers about the level of risk involved in every credit card. And we’ll establish a Credit Card Bill of Rights that will ban unilateral changes to a credit card agreement; ban rate changes to debt that’s already incurred; and ban interest on late fees.

[..]

When I’m President, we’ll reform our bankruptcy laws so that we give Americans who find themselves in debt a second chance. I’ll close the loophole that allows investors with multiple homes to renegotiate their mortgage in bankruptcy court, but not victims of predatory lending. We’ll make sure that if you can demonstrate that you went bankrupt because of medical expenses, then you can relieve that debt and get back on your feet.

[..]

I’m proposing a National Infrastructure Reinvestment Bank that will invest $60 billion over ten years. This investment will multiply into almost half a trillion dollars of additional infrastructure spending and generate nearly two million new jobs – many of them in the construction industry that’s been hard hit by this housing crisis.

[..]

...when I am President, I will not sign another trade agreement unless it has protections for our environment and protections for American workers. And I’ll pass the Patriot Employer Act that I’ve been fighting for ever since I ran for the Senate – we will end the tax breaks for companies who ship our jobs overseas, and we will give those breaks to companies who create good jobs with decent wages right here in America.

[..]

I believe that we can create millions of those jobs around a clean, renewable energy future. I believe that we can create millions of those jobs around a clean, renewable energy future. A few hours northeast of here is the city of Manitowoc [MAN-a-ta-WOC]. For over a century, it was the home of Mirro manufacturing – a company that provided thousands of jobs and plenty of business. In 2003, Mirro closed its doors for good after losing thousands of jobs to Mexico.

But in the last few years, something extraordinary has happened. Thanks to the leadership of Governor Doyle and Mayor Kevin Crawford, Manitowoc has re-trained its workers and attracted new businesses and new jobs. Orion Energy Systems works with companies to reduce their electricity use and carbon emissions. And Tower Tech is now making wind turbines that are being sold all over the world. Hundreds of people have found new work, and unemployment has been cut in half.

This can be America’s future...

[..]

My energy plan will invest $150 billion over ten years to establish a green energy sector that will create up to 5 million new jobs over the next two decades – jobs that pay well and can’t be outsourced. We’ll also provide funding to help manufacturers convert to green technology and help workers learn the skills they need for these jobs.

[..]

And that is why I’ve paid for every element of this economic agenda – by ending a war that’s costing us billions, closing tax loopholes for corporations, putting a price on carbon pollution, and ending George Bush’s tax cuts for the wealthiest 2% of Americans.

Is this too much excerpting?

[grapejelly]

Re: obama's plan: infrastructure and "green energy"

JK -

<< He said the program would be paid for by ending the Iraq war. >> :confused: :confused:

Does this mean that when the Iraq war is ended, there will persist a future cash stream from a phantom Iraq war continuing, that we'll then divert to this energy program?

Uhhhh...yeah? Once the gubmint gets their teeth in a stream of income, it becomes "theirs". That's the truth behind the taxation=theft school and why they may kindly "give you back" some of what they take even though it is really theirs and not yours. You have nothing that is not theirs. Remember?

[FRED]

Re: obama's plan: infrastructure and "green energy"

Uhhhh...yeah? Once the gubmint gets their teeth in a stream of income, it becomes "theirs". That's the truth behind the taxation=theft school and why they may kindly "give you back" some of what they take even though it is really theirs and not yours. You have nothing that is not theirs. Remember?

That's as rich as the tax "rebate" check. Hey, Mr. CONgresscritter, wasn't that my money in the first place? Thanks for giving it back!

[jk]

Re: obama's plan: infrastructure and "green energy"

That's as rich as the tax "rebate" check. Hey, Mr. CONgresscritter, wasn't that my money in the first place? Thanks for giving it back!

wrong! that money belongs to the pboc, and is only lent to the feds to pass on to you. remember? you used that money to buy a flat screen tv last year!

[FRED]

Re: obama's plan: infrastructure and "green energy"

wrong! that money belongs to the pboc, and is only lent to the feds to pass on to you. remember? you used that money to buy a flat screen tv last year!

Damn! You're right! Assuming you meant the PROC. Well, they can have their godamn flat panel TV back and I'll take the money and sent it back to the Feds and they can send it back to China. And I'll take my check and save it!

OK, so after all that, is the US economy all better then?

[jk]

Re: obama's plan: infrastructure and "green energy"

Damn! You're right! Assuming you meant the PROC. Well, they can have their godamn flat panel TV back and I'll take the money and sent it back to the Feds and they can send it back to China. And I'll take my check and save it!

OK, so after all that, is the US economy all better then?

pboc = people's bank of china, the chinese central bank

[Guest]

Re: obama's plan: infrastructure and "green energy"

What's with P E T E R S C H I F F 's name turning into "S C H I F T Y" every time one types it into a post here? Has anyone noticed this?

[BiscayneSunrise]

Re: obama's plan: infrastructure and "green energy"

Doesn't matter who we vote for individually, my prediction is Obama will, undoubtedly, be our next President.

[jk]

Re: obama's plan: infrastructure and "green energy"

Doesn't matter who we vote for individually, my prediction is Obama will, undoubtedly, be our next President.

in FLORIDA it doesn't matter who you vote for. :rolleyes: