Since February of 2009 when President Barack Obama began his aggressive push for stimulus into the American economy, he focused on one core area — infrastructure.
In fact, in his stimulus speech before Congress in 2009, his States of the Union in 2010, 2011, and 2012, and his Jobs Act speech of late 2011, the President repeated referred to spending government money to create jobs to fix America’s infrastructure.
Congressman Jim Jordan (R-OH), leader of the Republican Study Committee, is confirmed to be leaning toward supporting the plan. His public pronouncements that he is leaning toward supporting the plan is leading House conservatives as a whole to support this new stimulus plan — a stimulus plan to create jobs fixing and expanding America’s infrastructure.
The plan will most likely necessitate a federal bailout of the Highway Trust Fund, which is typically funded through the gas tax and is used to pay for highway projects. But Obama’s new stimulus busts the cap on the trust fund and, like social security, gets into general fund money to pay for the spending binge.
With the House bill, as is typical of Barack Obama’s legislation, spending will outpace income over the next five years by $69.6 billion. Moreso, as is also typical of President Obama’s stimulus schemes, Washington would retain the bulk of control, even though the money would be going to state transportation projects. Federal strings and federal money will come with the legislation.
Please share this post with your friends and comment below. If you haven't already, take a moment to sign up for our free newsletter above and friend us on Twitter and Facebook to get real time updates.