Our local paper here, the Oregonion, is reporting some highlights of President Obama's "bold" new plan to create jobs to reinvigorate the economy as well as his own re-election campaign, according to anonymous administration officials.
According to the administration officials, the President deliberated with his key advisers and fundraisers before settling on a plan.
Labor Secretary "Hilda Solis wanted a serious jobs plan focused on infrastructure spending to reduce unemployment right away and also satisfy the demands of most voters, but (Chief of Staff) Bill Daley cautioned that the spending could alienate some major campaign donors and Republicans.
After extensive negotiations between his cabinet members, the President agreed to accept some bipartisan proposals like a repatriation tax holiday for corporations, a stealth-bailout for major banks, a payroll tax cut, and a drastic cut in regulations. All are supported by a majority of corporate lobbyists & campaign donors who insist that this will help rebuild "business confidence", which will eventually lead to more jobs.
The President also agreed to "start talking about" some infrastructure spending ideas with Blue Dog democrats and the "patriotic Republicans in Congress". These ideas may be highlighted in speeches over the few months and may help increase voter enthusiasm for the President. The ideas will be intentionally vague to allow voters to imagine them as they wish.
The President might even consider a few high profile lawsuits against corporations - like banks - to help rebuild his cred with political activists, although Eric Holder acknowledged that most of the cases will eventually be dismissed or settled out of court.
Initially, Daley and Geithner were skeptical of the plan but they signed on after (Speaker) Boehner confirmed that all the infrastructure spending proposals will be DOA in Congress. D&G had originally proposed a pure PR campaign instead of any actual spending, but were satisfied with the President's compromised proposal.