Obama set to propose a jobs plan, Republicans set to block it [Report and Reckon]

Report & Reckon is a regular feature in which Phil takes a top story, breaks it down, and proceeds to opine on the subject. “Report, Reckon & Reply” is too much of a mouthful, but it’s expected that you add your two cents in the comments.

Protestors outside prominent Representative Paul Ryan's office in at an event organized by the group Wisconsin Jobs Now. Via Flickr.

Can the U.S. Executive Branch really improve the jobs situation in America?

The American public certainly seems to think that the President Barack Obama is directly responsible for matters relating to unemployment, wage loss, and hiring rates. His most ardent critics blame the ailing economy on his inadequacy, but would react with new waves of hostility if he proposed any government-guided jobs programs.

This week, the President is set to release a new jobs plan that his opposition will inevitably tear apart. The question among those who might feasibly support an Obama-jobs-plan is: how far should it go?

The first step in the jobs plan has been nominating Princeton economist Alan Krueger, described as “center-left” by the Washington Post, as the head of the President’s Council of Economic Advisers. But the elements of the upcoming plan have been kept quiet by administration officials, leaving political media outlets to speculate on what may be included. CBS News has listed the following as likely elements:

• an extension of the 2011 payroll tax credit (certain employees receiving paychecks get a 2% bump in pay)
  
• a proposed bank dedicated to financing infrastructure projects, such as highway and rail
  
• ratifying new free trade agreements with Panama, Colombia, and South Korea
• extending unemployment benefits – the U.S. unemployment rate is estimated at 9.1% by the Bureau of Labor Statistics
• tax-break incentives for companies to hire people, including veterans

All of these measures are contingent on approval by the divided Congress which includes the Republican-controlled House of Representatives. If this showdown follows the path of this summer’s caustic debt ceiling debate, the only guaranteed outcome of Obama’s jobs plan will be frustration and low approval ratings for both Congress and the President.

Before the proposal is even presented, it looks like the President is sure to catch fire. From both sides of the political spectrum.