Killing Obama jobs plan will be suicidal for GOP in next elections

October 11, 2011 | Filed under: Business | Posted by:

Washington DC, NVONews: Killing Obama jobs plan will be suicidal for GOP in next presidential elections. Senate Democrats are bringing Obama’s jobs bill on the floor for voting, but they plan to do it by breaking the legislation into parts since this holds greater promises for the bill that is facing tough odds.

One aid was reported as remarking that Democratic leaders may hold multiple votes on the plan in the coming weeks to underscore Republican opposition.

The idea of tackling the jobs bill in pieces gained the support of Obama last week, when he called in a news conference for Congress to show some progress in acting on his proposals.

Obama’s original plan threw off even seasoned Democrats and Sens. Joe Manchin of West Virginia, Jon Tester of Montana and Ben Nelson of Nebraska are planning to oppose the bill. The original plan of Obama was not a favoured one, so the $447 billion plan underwent certain changes to make it more acceptable to the warring parties. The changes can put the surtax on millionaires.

Republicans are unanimous in their no-vote for the bill and among the Democrats, with 53 votes in the Senate, it will be a tough fight to keep the bill alive by gaining the required 60 out of the 100 votes.

Sen. Charles Schumer, a Democrat, said, “If China continues its predatory practices, the future for our children and grandchildren in this country will not be bright.”

China’s yuan is undervalued by about 25 to 30% and possibly by as much as 40% against the dollar, as per economists. This translates to the fact that Chinese goods sold in the United States have a 25 to 30% advantage in price and U.S. goods exported to China face an equal amount of disadvantage.

The Fair Currency Coalition is a group pushing for changes in China’s exchange rate.

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Posted by on October 11, 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
  • RJ

    HELLO,SOMEONE OUT THERE NEEDS TO LISTEN,THE RICH HAVE GOT AWAY WITH NOT PAYING THEIR FAIR SHARE OF TAXES FOR AT LEAST 4 GENERATIONS,THEY HAVE PUT IN THEIR POCKETS AT LEAST 9 TRILLION DOLLARS IN THAT TIME PERIOD,IF AMERICANS DO NOT FORCE THE RICH TO PAY THEIR FAIR SHARE NOW,OUR COUNTRY WILL BE IN THE TROUBLE ITS IN FOR ANOTHER 10 YEARS,MAYBE MORE,SOMEONE NEEDS TO LISTEN,NOW WE NEED TO FORCE THEM TO PAY,OR WE DESERVE WHAT OUR FUTURE HOLDS.

  • John Germaine

    Hello. The Obama bill would tax the rich and would not solve the jobs problem. Yes the rich can be taxed a little more but how about job creation? This bill is an OBAMA stimulus bill again and we would have to bail the government out again with the little taxes we have. Impossible. In addition, we are already spending money to bail out foreign countries and is there some unknown reason for such a mixture of mess in another hidden bill that at the same time OBAMA has submitted anouther Trade Bill thay will let all theses nations off and give them even more advantages over the USA? This was simply a disquise for re-election of a man with no care for job creation. For a Socialist that is following the same path as EU coutries and a looser that won the Nobel Prize. UGH.

  • John

    How many protestors on Wall Street know that OBAMA has received more donations from Wall Street for his Campaign than any President in History? Hello out there.

  • Jim

    Taxing the rich will create jobs, how????? or are you happy sitting on the couch with a ho, ho, getting up once a month to see if your govy check has arrived. Signing this jobs bill is just like co-signing a car loan for your 16 year old child to purchase a BMW!!! Your gonna go broke, and the kid will wreck the car, there will AGAIN, be nothing tangible to use in the future.

  • http://lolbamas.com/ DRH

    @RJ – you *do* know that “four generations” is something like 100 years…. right?

    Anyhoo…. the “jobs bill” died because it wasn’t a serious proposal in the first place; it was a campaign ploy. The Democrats who would have gotten hurt by voting for it voted against it, the rest voted for it in hopes that it would bolster their paty’s chancs in 2012. End of Story….