President Barack Obama’s American Jobs Act will cost $447 billion

Thursday, September 8, 2011, President Barack Obama presented the American Jobs Act, previously referred to as the president’s jobs plan.

Over and over, the increasingly unpopular president urged congress to pass the American Jobs Act bill.

Obama said the bill will create more jobs for teachers, construction workers, and veterans, by cutting employers’ payroll taxes “in half”.

Furthermore, any employer who hires someone who has been unemployed for six months or longer, will receive a $4000 tax credit, said the president.

Under the president’s proposal, construction workers would be put to work rebuilding roads, bridges, highways, and modernizing an estimated 35,000 schools; which in the process, would receive high-speed Internet access.

Obama‘s initiative, estimated at $447 billion dollars, would be paid for by cutting government spending up to a trillion dollars. Those cuts would include more cuts to Medicare and Medicaid, said the president.

Although Obama delivered an impassioned speech, I didn’t hear a single idea that would create a demand for businesses’ services and products.

Obama, and the rest of these useless politicians, needs to understand that we cannot spend out way out of debt, and tax cuts do not create jobs.

Everyone keeps talking about jobs for teachers, construction workers, and veterans… but what about the millions of Americans who worked in customer service, retail, and other aspects of the service industry?

I guess those people will have to survive the best way they can, because no one seems to give a damn about them, republicans and democrats, alike.