Doubling down his failed $800 billion stimulus package – which did not rebuild our infrastructure or create the millions of jobs promised – today, President Obama will tie up traffic on D.C.’s own Key Bridge to ask Congress to spend billions more on infrastructure. It’s an odd venue, given that the Key Bridge is one of 215 structurally deficient bridges in the District that was not fixed in the two years since the city received a disproportionate amount of stimulus funding to rebuild faulty infrastructure. Rather than forcing Americans to spend more money, we need to get Washington out of the way and remove the regulatory red tape that is preventing states from moving forward on priority projects, and preventing the private sector from creating jobs.
Today In History: In 1986, Norwegian distance runner Grete Waitz wins her eighth New York City marathon. She finished the 26-mile, 385-yard course in 2:28.6, more than a mile ahead of the second- and third-place women in the race. Waitz had won her first marathon in New York in 1978—setting a world record--and she won the NYC marathon again in 1979, 1980, 1982, 1983, 1984 and 1985. In 1988, she won it for the ninth time—something no runner had ever done in any marathon.
Birthdays: James Polk, Warren G. Harding, Pat Buchanan, David Schwimmer, and Wilson Betemit
Here is what’s in today’s Ledger ...
State Of Play: President Obama Touts Stimulus 2.0 As Watchdog Says Government Mismanaged The Original Stimulus
Not The Headline The White House Wanted As President Obama Pitches Stimulus 2.0 – Energy Department Couldn’t Manage Stimulus Money, Watchdog Says. Gregory H. Friedman is slated to tell lawmakers that the Energy Department‘s efforts to quickly distribute $35.2 billion in economic stimulus funding “was more challenging than many had originally envisioned.” The department’s stimulus haul eclipsed its annual budget by more than $8 billion, according to prepared testimony by Friedman. ... Friedman is also critical of the administration for touting the existence of “shovel ready” projects that needed federal funding in order to be quickly completed. From the start, administration critics were skeptical that enough such projects existed to spur the economy. And Friedman agrees. “In reality, few actual ‘shovel ready’ projects existed,” he said. Instead, projects benefiting from Energy Department money “required extensive advance planning, organizational enhancements, and additional staffing and training” that delayed the quick distribution of stimulus dollars. The Washington Post
State Of Play (2): While 18 Bipartisan Jobs Bills Await Action In The Senate, Senate Dems Focus On Bills They Know Cannot Pass
Dems Admit They Never Expected President Obama’s Bill To Pass, Point Out That Leader Reid’s Approach Is Motivated By Politics. Senate Democrats, exasperated by their failure to crack GOP unity, are forging ahead with a new jobs strategy that will likely produce an old result. ... Democratic operatives are quick to note that they never expected to pass the jobs bills through the Senate, adding that the multiple roll calls will put Republicans on the defensive and force them to explain on the 2012 campaign trail why they voted no on measures that poll well with voters. ... The GOP opposition has highlighted the inability of Democrats to completely unify their own caucus, undermining their messaging strategy. Senior Democratic staffers have expressed frustration that much of the media coverage of the jobs bills has focused on the few Democratic defectors ... The Hill
• While Leader Reid Plays Politics, Other Dems Show Their True Colors By Unveiling A European Style Tax Increase. Two U.S. lawmakers will introduce measures to impose a transaction tax on financial firms that resembles a proposal released by the European Union. Senator Tom Harkin, an Iowa Democrat, and Representative Peter DeFazio, an Oregon Democrat, will introduce the bills tomorrow in their respective chambers. ... “Quite frankly, I bet nobody would even feel it.” ... “The G-20 members have committed to work together to support policies that will lead to strong, sustainable and balanced growth,” the trade groups, which included the U.S. Chamber of Commerce and the Business Roundtable, wrote in the Sept. 22 letter. “The imposition of a financial transaction tax would run counter to achieving these objectives.” Bloomberg
Tweetable: #WeCantWait: The House Has Sent 18 Bipartisan Jobs Bills To The Senate - When Will @SenatorReid Start Holding Votes? http://ow.ly/7gz1K
The Economy: Small Business Owners Call For Action On Job-Crushing Federal Regulations
Rep. Steve Stivers: Republicans Are Listening To Small Business Owners, Working To Unwind The Red Tape Strangling Small Businesses & Manufacturing. A picture paints a thousand words, but in the case of a foot-high stack of government regulations, it's not a pretty picture. ... The reality of government regulations run amok was brought home to me when one of my constituents, a local business leader, brought in a stack of new federal rules with which his company needed to be in compliance within a matter of weeks. So, instead of hiring a number of new employees on the plant floor and growing his business, this business leader had to turn the time and attention of his top-management team to interpreting and complying with these new regulations. The list goes on. Tucked into the 2,300 pages of the Dodd-Frank Act is one such regulatory burden that, if enforced, would literally put a stop to many manufacturing jobs in Ohio and the rest of the country. ... In order for companies to expand their businesses, they need to have confidence that the rules of the game won't be changed after they have started playing. ... As a member of Congress, I can't create jobs, but I can work to ensure the passage of legislation to ensure that free enterprise can. By cutting through Washington's unnecessary red tape, we can empower the private sector to do what it does best - create opportunity, wealth and jobs. Quite simply, that's the American way. The Washington Times
• Former Dem Senator: “One Of The Best Ways To Help Small Business Create Jobs Is To Less The Uncertainty They Have In Terms Of Regulation.” "These are things the Obama administration can do immediately to help job creation," former Arkansas Sen. and Coalition Chairwoman Blanche Lincoln told The Washington Examiner. "One of the best ways we can help small businesses create jobs is to lessen the uncertainty they have in terms of regulation." The Washington Examiner
Nevada Small Business Owners Call On President Obama To Ease The Regulatory Burden. "In recent years, small business’ ability to grow and continue to create two-thirds of the net new jobs annually has been threatened by a growing number of burdensome regulatory requirements handed down from Washington," wrote NFIB president Dan Danner and former senator Blanche Lincoln, D-Ark., who heads a "Small Business for Sensible Regulations" coalition backed by NFIB. ... Henderson dentist Diane Stacey, her husband Las Vegas contractor Buddy Byrd, and Valerie Clark, president of Reno insurance brokerage Clark & Associates, took the message to meetings with Republican lawmakers from the state. Byrd, who operates Byrd Underground LLC and employs 20 people, said Environmental Protection Agency rules for diesel fuel emissions that go into effect in 2014 "will completely shut down my business." As well, Byrd said he anticipates a strain from health care requirements that take effect in 2013. "Unless I take out a loan, which you can't right now, by the way," he said. "They need to just back off," Byrd said of the government. "They should just let us continue to try to work and continue to make jobs. If they want us to make jobs they need to get this big monkey off our back, or else figure out a way to support the rest of America because we will not be here." The Las Vegas Review-Journal
• Small Business Owners In Ohio and Pennsylvania Come To Washington To Stress The Negative Impact Of Burdensome Regulations. "When I started the business, I'd very rarely ever get some information from the government that I had to really pay that much attention to," David Cranston, president of Cranston Material Handling Equipment Corp. of Pittsburgh, says in a new Small Businesses for Sensible Regulations video. "It now seems like every week I am receiving some kind of documentation or something that need to be filed. ... It costs us tens of thousands dollars a year to comply," he adds. ... "Continued escalation of regulations will push companies like mine to a point where we simply can't sell those types of jobs at a profit anymore," said coalition member Tim Englert, owner of Englert Construction in Akron, Ohio. "I came to D.C. to make sure this message is being heard." The Washington Examiner
Committee Check: The Oversight & Government Reform Committee Examines The Negative Effects New EPA Regulations Will Have On Jobs and The Economy
Virginia AG Warns New EPA Regulations Could Cause Electricity Prices To Soar, Cost 180,000 Jobs and Devastate The Economy In Southwest Virginia. Virginia Attorney General Ken Cuccinelli testified before a U.S. House committee Tuesday on what he claims would be the devastating impact on Virginia ... Cuccinelli told members of the House Committee on Oversight and Government Reform that the regulation could increase electricity prices between 10 and 35 percent and cause power plant closures because of the exorbitant cost of retrofitting the facilities. He also cited national job loss estimates of 180,000 between 2013 and 2020 if the regulation takes effect. "For Virginia, the situation is even bleaker than for the rest of the nation," Cuccinelli said, speaking to the heavy burden the regulation could impose on the coal industry. "The most important industry in Southwest Virginia is coal mining. These regulations make coal more expensive and less desirable to use, which means the economy of Southwest Virginia … will be devastated by the destruction of the coal industry and the jobs lost along with it." Richmond Times-Dispatch
• VIDEO – AG Cuccinelli on EPA's Utility MACT Job-Crushing Regulation
President Obama Gives Completely Different Answers To A Fundamental Question: Are You Better Off Than You Were Four Years Ago?
• Last Month: "Well I don’t think they are better off than they were four years ago," Obama said in reference to the American people on October 3. The Weekly Standard
• Yesterday: "Well, you know, I think that we are better off now than we would have been if I hadn't taken all the steps that we took," President Obama replied. The Weekly Standard
Pelosi vs. Boeing — And Jobs: The ex-House Speaker who promised millions of jobs from ObamaCare says that not creating jobs is better than creating nonunion jobs. But then she also believes unemployment checks grow the economy. ... "Do you think it's right that Boeing has to close down that plant in South Carolina because it's nonunion?" asked host Maria Bartiromo. Pelosi's quick answer was "yes." Pelosi said she preferred the plant in the right-to-work state would unionize; failing that, the National Labor Relations Board is right to shut down the plant where Boeing hopes to build its Dreamliner passenger aircraft. Never mind that workers at the South Carolina plant were once unionized and voted to kick the union out. The Vought Aircraft plant, which Boeing purchased in 2009, was once one of Boeing's suppliers. Investor’s Business Daily