Federal Sleuth to Oversee Stimulus Plan

But problem may be too big to fix

(NEWSER) - As he announced the appointment of Alan Krueger yesterday, President Obama promised a speech outlining his new jobs agenda next week—but behind the scenes, Obama and company haven’t actually agreed on that agenda yet, the Washington Post reports. The president is considering a number of options, including a tax credit for companies hiring new workers, an infrastructure bank, clean-energy tax cuts, and revamping the unemployment system so that it pays companies to hire out-of-work people. More»

President to trade short-term spending for long-term cuts

(NEWSER) - President Obama's promises to boost jobs and cut the deficit are taking shape, with a new stimulus and tax cuts for companies that hire new workers to be announced in a major address right after Labor Day, reports the Washington Post . The stimulus is said to focus on road building, construction, and the long-term unemployed. The president may also propose mortgage relief for struggling homeowners. More»

Krauthammer: GOP gave him his stimulus, and looked bad doing it

(NEWSER) - Barack Obama pulled off a huge coup with his tax-cut deal, but House Democrats are too dim to realize it. Obama slyly negotiated “the biggest stimulus in American history,” complains Charles Krauthammer in the Washington Post . Republicans boast that this is their kind of stimulus—meaning mostly tax cuts. “That’s consolation? Stimulus II will still blow another near-$1 trillion hole in the budget.” More»

Republicans, Obama agree to payroll tax holiday, middle class breaks

(NEWSER) - The tax cut deal President Obama struck with Republicans yesterday is far more sweeping than lawmakers on either side of the aisle were expecting, and aside from extending the Bush tax cuts across the board, here's the lowdown, as per the Washington Post:

• Inheritance tax: After a year's lapse, individual estates worth more than $5 million (twice that for couples) are now subject to a 35% levy.
• Payroll tax holiday: Will extend across all income levels, costing $120 billion. A couple making $70,000 a year will see $1,400 in savings.

...he needed the guts to do something worthwhile to save it

(NEWSER) - Recently prognosticators—like Evan Bayh, in this article —have been accusing Barack Obama of “focusing on health care rather than job creation.” So Paul Krugman of the New York Times has a question: What does that even mean? Are they saying Obama should have pursued a bigger stimulus? Been tougher on the banks? “If not, what are they saying? That he should have walked around with furrowed brow muttering, ‘I’m focused, I’m focused’?” More»