President Obama will propose using $200 billion from the Troubled Asset Relief Program (TARP) to support creating jobs, White House officials confirmed Monday. The president, in an economic speech before the Brookings Institution on Tuesday, will argue that the money would be well spent by funding projects to build bridges and roads, weatherize homes, and provide other assistance for small businesses as well as the unemployed.
Hmm. Those proposals sound familiar . . .
And we enacted a Recovery Act that put tax cuts directly in the pockets of middle-class families and small businesses; extended unemployment insurance and health insurance for those who’ve lost their jobs; provided relief to struggling states to prevent layoffs; and made investments that are putting people back to work building bridges and roads, schools and hospitals.
We’re going to weatherize homes. That’s going to immediately put people back to work.
In other words, Obama’s plan to deal with unemployment at 10 percent is exactly the same as his plan to deal with unemployment when it was 7.6 percent.