From the NY Times:
President Obama on Tuesday will announce three proposals intended to turn around the nation’s beleaguered job market, including strengthening investments to small businesses that have struggled to expand because of the credit crunch in America.
The speech, according to a senior administration official, will outline a series of steps to help small businesses grow and hire new staff. The president also will call for increasing the investment in infrastructure through building and modernizing highways, railways, bridges and tunnels. He also will propose a new program that provides rebates for consumers who retrofit their homes to become more energy efficient.
“We don’t think there is one silver bullet, one plan, one speech or a singular piece of legislation that alone will solve double digit unemployment,” Mr. Obama is expected to say in his remarks, according to a senior administration official.
It is Mr. Obama’s latest effort to draw attention to the economy. In his speech, the president will outline how he intends to jumpstart the job market by spending the excess in government bailout money.
The president also will call for using some of the $200 billion in Troubled Asset Relief Program to help pay down the $1.4 trillion budget deficit. One week after taking his economic message on the road, Mr. Obama is in Washington on Tuesday, offering an outline for his plan for Congress to help boost the job market next year.
“The president is absolutely committed to getting every American who is unemployed and wants a job back to work,” Christina Roemer, the chairwoman of the White House Council of Economic Advisers, said in an interview Tuesday on MSNBC.