Obama offers $447 billion jobs plan to jolt economy
Facing low approval ratings amid a stalled economy, President Barack Obama has put forward a $447 billion jobs package, challenging Congress to shut down the 'political circus' and pass it 'right away.'
Obama said he will ask Congress to increase the $1.5 trillion target in deficit reduction being pursued by a special joint congressional committee to cover the cost of the American Jobs Act.
He said he will propose his own deficit-reduction plan Sep 19 that would reform entitlement programmes such as Medicare while changing the tax system to end loopholes, lower the corporate tax rate and increase taxes for the wealthy.
He also told Republicans he would take his case directly to the American people, and called on 'every American who agrees to lift your voice and tell the people who are gathered here tonight that you want action now.'