New Financial Initiatives Being Pitched- Will Obama Strikeout?

As of late, President Barack Obama has come under some hot water. Involvement in multiple wars, unprecedented levels of unemployment, and economic woes are just the beginning of his concerns. His approval ratings have tanked and on top of that, mid-term elections are roughly two months away.

Final inning, bottom of the ninth, bases loaded with the go ahead run on third, what would a Cy Young winner do in this situation? He wouldn't give up, but rather keep on pitching. This is the situation President Barack Obama has been put in this situation before to mixed results. Now, more than ever he needs to win.

So what is Barack Obama to do? How does he close the gap on his woes and turn the state of the union around? He pitches a $50 billion jobs plan. The way he is planning to achieve this is "closing loopholes for big oil and gas companies," according to Senate republican leader Mitch McConnell. The infrastructure plan includes:

• Rebuilding roads;

• Construct and maintain Transatlantic railways;

• Fix and repair and remodel airport runways with an emphasis on air traffic control systems;

• Set up a bank to hold all factions accountable for invested capital.

Transportation officials are expecting the creation of 35,000 for every $1 billion invested. This amount t would result in the creation of 1.75 million much needed jobs.

With this proposal on the table, President Barack Obama is now pitching a trio of economic initiatives. He is also staunchly opposing the Bush-era tax cuts for the wealthy 2% of Americans.

The trio of economic initiatives Obama is seeking approval from Congress include:

• A $50 billion infrastructure investment to rebuild and repair the nation's roads, railways and runways.

• A permanent extension of research and development tax credits for businesses.

• Tax breaks for small businesses.

The key to these proposals is President Obama's ability to convince Republicans these economic initiatives are not just another bailout. Republicans have cast similarities to Obama's plan and the wildly unfavorable financial industry stimulus.

Obama needs to hold the line if he wants to get some resolution prior to the mid-term elections.

Source: news.yahoo.com

Source: news.yahoo.com