AP fact checked the jobs speech, and Hot Air summed it up:
In Barack Obama’s speech to the joint session of Congress, the President emphasized that his new jobs plan had four specific qualities that made it easy to pass this bill immediately, as Obama chanted repeatedly during his speech. His plan would be fully funded, it would not add to the deficit, it would create jobs immediately, and it was chock-full of bipartisan ideas. The Associated Press fact-checked these claims, and found them all false.Click here for more detail.
Paid for? No.
And immediately effective? Not even close.
However, the same elements Obama insisted last night would stimulate job growth were the same elements that comprised the 2009 stimulus bill. We have the same speeded-up infrastructure spending (this time masquerading as an “infrastructure bank”), the same money for state bailouts dressed up as rescue packages for teachers and first responders, the same Making Work Pay-type temporary tax cut for workers, and a “hiring tax credit” that flopped when Jimmy Carter first tried it.
Obama didn’t offer one single new idea last night. He didn’t even offer an idea on how to pay for the bill, whose price tag Obama never mentioned once in his speech but has now bloated from an initial estimate of $300 billion to $450 billion. Instead, he told Congress to figure out how to carve the cost out of future spending while it battles over meeting its $1.5 trillion commitment from last month’s debt-ceiling increase.
This plans for you! Buy now! Buy now!
Sounds like a Slap Chop commercial.