President's speech was unbearably disappointing - we are going to be suffering under this recession for a very long time with no end in sight. This is not a jobs act but a tax act. He says it is paid for but he told us he doesn't have a plan to pay for it.
His make work projects are meant to supply jobs for union workers and government employees - is that really a problem? The problem is not that Americans can't get from their homes to work because there is no road to get there but that there is no job to go to.
Because people respond to incentives, his $4000 tax credit to hire a worker who has been unemployed for six months will, if employers decide that they can hire someone, ensure that anyone newly unemployed can expect to be unemployed for at least six months - they are off the job market.
His credit for raises will ensure that any manager in a position to dole out raises will give himself a raise but will he actually be able to afford to give one to others?
Employers are left to consider, can I really afford to hire someone because if I do and I get the $4000 tax credit and then because the economy is so unstable and I have to lay-off an employee off I'm stuck with another person on my unemployment rolls for years, much more than the $4000 credit.
Worst of all, he shows that he is completely unwilling to do anything about the policies that are foiling our economy. For business, the uncertainty lies in the anticipated expense of Health Care Reform, the policies that are raising our energy prices, raising commodity prices, nonsensical regulations and expensive business taxes including unemployment.