President to Propose $300 Billion Spending Package

With unemployment at record levels and employment in the U.S. at a virtual standstill, the President on Thursday is poised as part of his job proposal, unveil a $300 billion spending plan.

The President will call for additional spending on the nation's infrastructure, housing aid, extension of unemployment benefits, tax cuts for business to hire workers and to spur hiring, and finally, additional aid for state and local governments.

The unfortunate aspect of the President's proposal is that this is a repeat of the first stimulus, which failed to keep unemployment below 8% as the administration stated it would not rise above. This administration again has failed to understand the real reason businesses are reluctant to hire; uncertainty over the future.

Right now businesses are faced with a labyrinth array of regulations that stifle economic growth, a tax structure that prevents job creation, and a health care law passed last year which businesses are still coming to grip with. None of these areas are fully understandable to the business community, as many regulations have yet to be written, and those that have stifle economic growth.

Again, the President will propose more of the same, which will not stimulate the economy or reduce the nation's persistent high unemployment.

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