Obama Economy

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Tuesday, September 7, 2010 - 9:21am

President Obama unveils new economic policies.


The White House says it's not a stimulus, but the idea is similar.

50 billion dollars for infrastructure…fixing 150-thousand miles of roads, 4-thousand miles of rail,
150 miles of runways and building a new air traffic control system.

President Obama said, "Anybody want more delays in airports? Nah, I didn't think so!"

President Obama says it'll create jobs and won't cost a dime of borrowed money.

"This is a plan that will be fully paid for. It will not add to the deficit over time," said Obama.

Republicans attacked, saying Americans are skeptical about more spending.

Senate Minority Leader Mitch McConnell says, "They're still looking for the 'shovel-ready' jobs they were promised more than a year ago."

All this as Democrats are under attack headed into November's elections.

Republicans picked their first target: an Indiana Democrat, Joe Donnelly.

Analysts say ads and promises will only go so far. This election, voters are only looking at one thing: results.

Peter Morici of the University of Maryland Business School said, "The economy's simply not going to improve before the election and there's nothing that Barack Obama can do about that."
 

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