Dissecting the President’s jobs bill

On Thursday, President Obama spoke at a press conference from the White House on his jobs proposal, calling it “an insurance policy against a possible double-dip recession.” Obama hopes to fund the plan via  a plan pitched by Senate Democrats this week, to tax Americans with incomes above one million dollars per year. Senate Leader Harry Reid plans to bring the jobs bill to the Senate floor next week. Lakshman Achuthan,  co-founder and CEO of the Economic Cycle Research Institute, assesses the president’s jobs plan.