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Obama Jobs Plan Stimulus 2.0?

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    President to announce plans to boost employment

  • Duration 3:02
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-- ranking -- now showing consumer confidence since mine is at its lowest level since April of 2009.

-- this news now fueling even more worries about economic growth or.

Other recovery in general since consumer spending accounts for about two thirds of the US economy in the meantime the White House finalizing.

A brand new plan to spark the job market and the president is set to announce details next week.

According to early reports there's a few key components a new higher tax incentive infrastructure spending.

And extending jobless benefits for more on this for joined by Craig's recommend -- as a writer for the Wall Street Journal said Greg is this stimulus 2.0.

It is an attempt at stimulating an economy in the doldrums and the argument now what happens is that needed it should on this little bit earlier instead of us and things like health care.

But I'm economists are somewhat excited about these ideas but you wanna go overboard let's work through -- -- that new higher tax incentive what -- -- light on the can be a 5000 dollar coming credits.

Bomb targeted it could do has an impact and if you think about it.

S&P 500 companies are sitting on one point one trillion dollars in cash right now we want to get them to spend a little bit.

I would argue that's.

There are other reasons why they're not spending and the European debt issue -- other kind of concerns but at the margin and you can potentially get some nearly a million dollar million.

New hires through this kind of -- -- -- For the consumer confidence that it -- demand sent out there -- companies have a lot to think about besides he's getting exactly this is our infrastructure spending we hear about it infrastructure bank.

-- what would that -- EA creating new bank through help from the government send an Internet bank lands and -- content areas to focus on everything from dilapidated schools.

On rural areas don't have access to broadband and of course rails and and highways this country ready to get -- money for the bank you get -- from our tax payers and it was through withdrawal these ideas -- -- good idea short term as long as you pay for the long term so we can get.

Growth a little bit stronger.

And we're paying for a long term that's not a bad idea do you wanna lay out how you gonna pay for -- long term interest in the -- return all about extending jobless benefits not that today talked about this new nominees for the Catholic economic advisors.

I that the president has nominated to -- heard about yesterday Alan Krueger.

And how He might feel about extending unemployment benefits based on his work at Princeton that are are we talking about extending -- a -- benefits passed a two year period where they're -- are ready and is that something that.

That would help well it's good question there what how does lot of talk about how long to extend its December comes up the talk -- -- one more year but maybe longer.

Would it how does a split on -- and there are some people that obviously could really be helped and we'll be able to find jobs in the next few months other people who maybe aren't looking for jobs and we're gonna be wasting money on those kinds of PeopleSoft.

There will be some impact beatle wanna go overboard on what kind of impact going to be interesting -- -- that happened Alan Krueger apparently did the studies at Princeton.

About whether or not it turns folks from from going out looking for work and what it really does the job market to send its results right it's interesting -- thanks I think if I have -- And how contained -- actually get the.

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