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Istook857 Jobs and Money

Recorded on September 15, 2011

From The Heritage Foundation, I'm Ernest Istook.

President Obama says the way to create more jobs is to spend more money. And he wants to get the money by raising somebody's taxes, not by cutting government spending.

So when Obama proposes another stimulus plan--$450-billion this time--and claims, “It's paid for,” he wants to do it with other people's money—by raising taxes.

He also believes that if consumers have more money to spend—by temporarily diverting money from Social Security into people's pockets—then their spending will also boost the economy. But a lot of people will instead use that money to pay down their debt—something government has a problem doing for itself.

Businesses, though, say Obama's plan won't get them hiring again. Maybe the President should start listening to what they're saying—that it's Obama's big government plans that are strangling the private sector.

From The Heritage Foundation, I'm Ernest Istook.