Barack Obama

In a Rose Garden speech this morning, President Obama soundly rejected Republicans’ push to address the deficit exclusively through spending cuts with no tax increases. He was responding to House Speaker John Boehner, who said last week that tax increases were “off the table.” The outcome of the current deficit-cutting fight could have significant implications for transportation-related proposals like the national infrastructure bank, which Obama included in his recently-unveiled American Jobs Act.

This morning brought some useful indicators about the outlook for President Obama's jobs bill. Good news first: Mark Zandi, chief economist at Moody’s Analytics, says President Obama’s job creation plan will likely add 1.9 million jobs, cut the unemployment rate by a percentage point, and grow the economy by 2 percent.

Last night, President Obama addressed a joint session of Congress to present his new jobs plan, a bill he’s calling the American Jobs Act. He relied on the well-worn appeal to people’s patriotic competitiveness by pointing out that China is improving its infrastructure while the U.S. is sitting idly by. Without mentioning the dollar figure (psst… it’s $50 billion) he said he’d get construction workers back on the job rebuilding transportation infrastructure and schools:

Tomorrow night, President Obama will unveil his jobs plan before a skeptical Congress. It’s unclear how much of the $300 billion proposal will go to infrastructure, but the president has said that will be a centerpiece of the proposal. An infrastructure bank and a new version of the expired Build America Bonds program could also be on the agenda.

This morning, President Obama announced that he would direct the EPA to back off of new ozone standards that would have saved an estimated 12,000 lives [PDF]. They’ll revisit it in 2013.

"I'm calling on Congress, as soon as they come back, to pass a clean extension of the surface transportation bill," President Barack Obama said from the Rose Garden this morning. "This bill provides funding for highway construction, bridge repair, mass transit systems, and other essential projects that keep our people and our commerce moving quickly and safely. And for construction workers and their families across the country, it represents the difference between making ends meet and not making ends meet."

As though to prove compromise isn’t as stiff a corpse as it appears, the Obama administration announced on Friday that it had reached a key agreement with an industry proficient at stonewalling government regulation: the automakers. The deal, which meaningfully raises fuel economy standards, was something of a welcome surprise, with the industry putting aside its usual act as regulatory victim and playing the role of committed partner.

The House and Senate are getting close to voting on a deal, reached over the weekend, to raise the debt ceiling and cut spending.

In a move to help buoy crisis-stricken cities, the Obama Administration this week introduced a program designed to provide administrative support to help local government officials "cut through the red tape" and access urgent federal assistance.