PRESIDENT OBAMA SIGNS JOBS BILL

 Barack Obama, Arne Duncan, Christina Romer, Amanda ...

The Jobs Bill, H.R. 1586, passed in the House providing $10 billion to school districts to rehire laid-off teachers or to ensure that more teachers won’t be let go before the new school year begins. The Education Department estimates that could save 160,000 jobs. Also included in the legislation is funding for the retention of more than 150,000 police officers and other public workers. The Jobs Bill is viewed as aid for the cash strapped states. Payments to states will be enacted by closing a tax loophole used by multinational corporations and by reducing food stamp benefits for the poor. Some welfare advocates estimate 40 million food stamp recipients will be affected and the payment cuts go into affect in four years.  The legislation was approved mainly along party lines by a vote of 247-161. 

 
The Center on Budget and Policy Priorities contend states continue to be hit hard by the recession and budget gaps. The organization anticipates this year and next, states will encounter a total of 350 billion dollars in budget shortfalls. The Center also says 48 states are currently addressing budget shortfalls in this recession. 44 states are addressing the shortfall for FY 2011.

 

Critics contend the President Obama’s job approval numbers are directly tied to the middle class pocketbook. President Obama’s approval and disapproval numbers are running neck and neck. 47 percent of Americans disapprove of the job President Obama is doing while 46 percent approve. The numbers were compiled during august 7th and 9th from 1500 adults in a national Gallup poll before the approval of the 26 billion dollar jobs bill.


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