Thursday, January 7, 2010

White House Proposals for Jobs Creation

On December 8th, 2009, the White House press office followed a speech the President give at the Brooking's Institution, by releasing a summary of his job creation proposal. You can read the release here.

1. Increase subsidies to small businesses for capital investment, expense taking and hiring. Also eliminating fees for Small Business Administration loans.
2. Additional spending on infrastructure.
3. Subsidies in energy efficiency and "clean" energy. Also know as "Cash for Caulkers"

He proposed using the $200 billion Temporary Asset Relief Program re-payment to fund the additional measures.

In the final section of the press release called "A FISCALLY RESPONSIBLE APPROACH TO JOB CREATION THROUGH STEWARDSHIP OF TARP AND OVERALL FISCAL DISCIPLINE" he provides some political cover against Republican attacks on deficit spending. He restates the need to use the TARP money for job creation. He also points out that healthcare reform will help the long-term budget deficit.

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