Obama Celebrates Drop In Unemployment Rate To Nearly Eight-Year Low

President Barack Obama’s proposed $10-per-barrel tax on crude oil is a crusade disguised as accounting.

“We’ll have a much stronger economy, stronger infrastructure, we’ll be creating the jobs of the future”, Obama said.

The Obama administration says the $10-per-barrel fee would be paid by oil companies, but the costs would undoubtedly get passed on to consumers.

The proposal will be part of the final budget request to be released next week and will include more than $300 billion worth of investments over the next decade in public transportation, high speed rail, and other infrastructure aimed at reducing greenhouse gas emissions, Politico reported on Thursday. “It’s going to help renewable power compete with dirty fuels across America in a more effective way”, he said. The proposal is not expected to pass, as Congress’ Republican majority has already said they would not allow it to.

“Since then we’ve just been bumping along, doing short-term fixes, and I give them a lot of credit for laying out this kind of long-term investment”, said Rendell, a Democrat who has been a frequent Obama critic.

The Budget and Accounting Act of 1921 requires the president to submit a unified budget to Congress each year (“Preparation, Submission and Execution of the Budget”, Office of Management and Budget, 2015). Exported oil wouldn’t be subject to the tax, though Obama misspoke during his remarks and said it would.

“Over the past six years, our business has added 14-million new jobs”, Mr Obama said in an impromptu press conference that hailed 71 straight months of private sector job growth.

Economists point to flat wages, which have only recently begun to rise, as a reason many Americans say they’re not feeling optimistic.

In fact, our analysis suggests that an oil price up to $75 per barrel would have no material effect on either U.S. mobility or the country’s economy.

This is just another typical “tax and spend” liberal policy being offered by the Obama White House.

It will create more good paying jobs, not by subsidizing the past, but by investing in the future and that’s why United States is going to be placing a big emphasis on clean energy, he stressed.

Obama has been repeatedly assailed by Republicans – especially the party’s presidential contenders – for overseeing an economy that many Americans still regard as sputtering in the wrong direction.

President Barack Obama took time Friday to boast about the January jobs report, which showed the unemployment rate dropping to its lowest rate in eight years.