BREAKING NEWS

Report: Obama to propose $300 billion jobs package

By REUTERS

SEPTEMBER 7, 2011 05:49

WASHINGTON - President Barack Obama, facing waning confidence among Americans in his economic stewardship, plans to lay out a $300 billion job-creation package on Thursday, CNN reported, citing Democratic sources.

The proposed new spending, to be announced by Obama in a nationally televised speech to Congress, would be offset by budget cuts, the report said, signaling that the Democratic president hopes to mollify the concerns of Republican fiscal hawks resistant to his jobs ideas.

There was no immediate comment from the White House.

Obama's aides have refused to go public with the estimated cost of Obama's 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 stubbornly high US unemployment.

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