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Though early talk about a federal stimulus bill centered on economic growth and recovery, some felt too much was invested in tax cuts. And while Wall Street seems to be doing better, the talk of jobs has turned troublesome. More and more, mentions are being made of a "jobless recovery," a startling turn for those who imagined the stimulus bill serving as a job creating machine as the WWII spending efforts are remembered.
So it comes as welcome news that President Barack Obama is now talking about investment in actual job creation. His proposal would take advantage of unused money intended for bailouts of banks and financial institutions. There is resistance from the right, but Obama seems determined to try to use that unused money to both pay down some debt, but stimulate job growth.
In a speech at the Brookings Institution, Obama said he wants to give small businesses tax breaks for new hires and equipment purchases. He also wants to expand American Recovery and Reinvestment Act programs and spend some $50 billion more on roads, bridges, aviation and water projects.
Finally, Obama would offer consumers rebates for retro-fitting their homes to consume less energy.