(drop a few less bombs on Pakistan, Libya and now Yemen and I think the money would be there). Corporations are sitting on trillions of dollars of cash, unwilling to take a chance on American workers. If the President is not willing to invest this small amount, and Corporations are unwilling to invest in distressed communities and unemployed Americans, where does this leave American workers? Up shit creek without a paddle.
S. 782. Economic Development Revitalization Act of 2011 provides the Commerce Department’s Economic Development Administration (EDA) with ways to help America’s communities meet the challenges of innovation-led economic growth. However, the bill would authorize spending levels higher than those requested by the President’s Budget, and the Administration believes that the need for smart investments that help America win the future must be balanced with the need to control spending and reduce the deficit.
http://thehill.com/blogs/floor-action/senate/165299-white-house-says-senate-dem-jobs-bill-too-expensive?duThe Obama administration on Tuesday night might have thrown a wrench into Senate Democratic plans to pass what they see as a jobs bill — by implying the bill spends too much money.
In a Statement of Administration Policy, the White House said it supports the broad goals of the bill.
"However, the bill would authorize spending levels higher than those requested by the president’s Budget, and the administration believes that the need for smart investments that help America win the future must be balanced with the need to control spending and reduce the deficit," the administration said.
The Economic Development Revitalization Act, S. 782, would expand the reach of the Public Works and Economic Development Administration (EDA), and increase funding from nearly $300 million in the current year to $500 million a year through 2015. The White House budget proposal recommended an increase to $325 million.
The comment on the price of the bill is likely to be seized upon by Senate Republicans as a further reason to reject it, and could undermine Senate Democrats' effort to build support for it. Earlier in the day, Sen. Jim DeMint (R-S.C.) told The Hill that he does not support the funding increase.
"This bill is nothing more than another failed stimulus idea that takes money from workers and businesses and gives it to Washington to pick winners and losers," he said. "We've already wasted hundreds of billions of tax dollars on a misguided stimulus that left us with record high unemployment, and we don't need to repeat the mistake."
On Tuesday morning, Senate Majority Leader Harry Reid (D-Nev.) defended the idea of boosting funds significantly for the EDA, which he said would help create jobs.
"In the last five years we've invested $1.2 billion, creating more than 300,000 jobs," Reid said of the program. "The Republicans are stopping us from moving to it because creating jobs, it appears, is the last thing they care to do."
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