President Obama to Discuss State of the Economy Tonight

If you’re worried about the economy — and let’s face it, who isn’t these days? — then you’ll probably have some interest in events happening tonight in our nation’s Capital.  At 7:00 EST tonight, President Obama will address Congress to unveil his new plan for creating jobs.  According to CBS News, the plan is expected to include about $400 billion in spending aimed at jumpstarting job creation, including:

  • $100 billion for infrastructure projects, including school renovations and improvements to roads and bridges
  • $50 billion to extend unemployment benefits (for up to 99 weeks) and to initiate job-training programs
  • $120 billion for an extension of payroll tax cuts, which would otherwise expire at the end of this year
  • $100 billion in aid to state and local governments to help avoid laying off teachers, firefighters, and police officers

Of course, this is just an outline and could change drastically (or be scrapped altogether) as the political process plays out.  It’s not yet clear whether Congress will support all or any of these proposals, but we’ll no doubt see what happens as thing get hashed out in the coming weeks.

As for tonight, the President can only hope that members of the public (and members of Congress) take time to listen to his proposal.  There’s already been a report of one Congressman who will be watching it on TV from his office while Tweeting responses, and a Senator who wanted to watch the opening game of the NFL season instead.

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