Obama to Propose $ 300 Billion Job Deal

Bangalore: U.S. President Obama is scheduled to speak shortly on his new jobs and economic recovery package aimed at helping millions of struggling Americans and small business. His latest proposal aims to encourage job growth by injecting more than $ 300 billion into the economy next year, mostly through tax cuts, infrastructure spending and direct aid to state and local governments, reports Reuters. These short-term jobs measures will likely be funded by raising tax revenue in later years. This would be part of a long-term deficit reduction package, including spending and entitlement cuts as well as revenue increases that he will present next week to the congressional panel charged with finding ways to reduce the nation's debt. Obama's aides have refused to go public with the estimated cost of the package or provide many specifics in advance, except to say that the proposals will have a "quick and positive" impact on boosting jobs at a time of high unemployment. 'We need to do things that will have a direct impact in the short-term to grow the economy and create jobs, and the president will put forward proposals that will do just that," White House spokesman Jay Carney said. Republicans criticized Obama for not including them in discussions on the package.