MichiganRadio

Obama, GOP Spar Over Job Creation WASHINGTON, DC (Associated Press) -

Republicans are sparring with President Barack Obama over proposals to create jobs in dueling radio addresses today.

Obama is pushing Congress to use $30 billion set aside to bail out Wall Street to start a new program that provides loans to small businesses, which the White House calls the engine for job growth.

In his weekly address, Obama said even though the unemployment rate has dropped below 10 percent, "it is still unacceptably high -- and too many Americans still can't find work."

Republicans have criticized the move to use the bailout money, arguing that any leftover cash should be used to reduce the budget deficit.

In the weekly GOP address, Rep. Jeb Hensarling of Texas chided Obama for proposing a budget on Monday that would increase spending, taxes and the national debt.

Hensarling said "Americans are still asking, 'where are the jobs?' but all they are getting from Washington is more spending, more taxes, more debt and more bailouts."


With 8.4 million jobs lost in the Great Recession, Democrats are anxious to pass a jobs bill before they take their winter break in a week.

President Barack Obama wants to give employers a tax break for each new worker they hire. Sen. Bob Casey of Pennsylvania is one lawmaker who likes the idea. A similar tax credit in the 1970s created over 700,000 jobs.

An alternative idea that's gaining traction in the Senate would exempt companies from paying the employer's share of Social Security payroll taxes for new workers they hire this year.

Other tax breaks supported by Republicans will likely also be in the measure the Senate is expected to consider in the coming week.

There's talk of a tax break for businesses that hire unemployed workers as well as extending a business tax credit for research and development through the end of this year.
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