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Wednesday, October 01, 2014, 9:33 a.m.
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Obama seeks $300 billion for roads, railways

By The Associated Press

This article was published February 26, 2014 at 6:43 a.m.

WASHINGTON — President Barack Obama is asking Congress for $300 billion to update the nation's roads and railways.

Obama plans to make the proposal Wednesday at the Union Depot rail and bus station in St. Paul, Minn.

The Highway Trust Fund finances federal highway and transit programs but is forecast to go broke as early as August.

The fund needs $100 billion over the next six years just to maintain current spending levels. But Obama and Congress don't want to raise gas taxes to make up the gap.

Obama is proposing that half the $302 billion he's proposing come from an overhaul of corporate taxes, but he says he's open to other ideas.

He also plans to announce a $600 million competition for federal grants to fund infrastructure projects that create jobs.

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DontDrinkDatKoolAid says... February 26, 2014 at 8:13 a.m.

What happen to the TARP that was pasted in his first term? Oh it went to Unions.

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3rdWorldState says... February 26, 2014 at 9:05 a.m.

God you're stupid.

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DontDrinkDatKoolAid says... February 26, 2014 at 9:15 a.m.

All those shovel ready jobs back then, what happened?

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Packman says... February 26, 2014 at 9:47 a.m.

@3rdWorldState - Dude, why are you calling God stupid?

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Reason says... February 26, 2014 at 9:52 a.m.

DDDKA, TARP passed and was signed into law Oct 3, 2008 by George W. Bush.
.
Obama was elected and was sworn in, in 2009...
Obama was reelected and sworn in 2013.... (snicker)

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DontDrinkDatKoolAid says... February 26, 2014 at 9:52 a.m.

SurferDuuuude, .. He has no clue of why he calls God Stupid.

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DontDrinkDatKoolAid says... February 26, 2014 at 10:01 a.m.

Who managed the TARP there after, or are you going to blame Bush on the mismanagement of TARP? Also there was an agreement between Bush and Obama to go ahead and sign the Bill into law.

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Reason says... February 26, 2014 at 10:07 a.m.

An agreement between Bush and Obama in October before the election...? I don't think so! What did McCain think about this pre-election agreement? LOL

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GrimReaper says... February 26, 2014 at 10:50 a.m.

Raise the gas tax by $2 a gallon. People need help with their transportation needs.

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80Redux says... February 26, 2014 at 11:32 a.m.

Sorry, but the TARP bill was the "Troubled Assets Relief Program" otherwise known as the Banking and Insurance bailout that was passed in late 2008 at the end of Bush's presidency, but ended up being used for the auto makers as well (by Obama). The Stimulus Bill was the nearly $1Trillion dollar, unstimulating bill passed in the spring of 2009 that was supposed to "jump start" the economy, but ended up only lining the pockets of unions.
Most people don't understand the "Money Multiplier" effect the banking system has. (Look it up on wikipedia.) Of those that do, many don't understand that the Money Multiplier effect works in reverse as well. That means that the economic benefit generated by government spending is completely offset by the reduction in consumption and investment it caused by taxation. Stated another way, the government can't cause economic prosperty. It can only incent prosperity by creating an environment that eases the barriers to entry for entrepenuers.

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