Obama Jobs Speech

[Chirios]

quoted from The Atlantic

President Obama's Jobs Speech: Read the Full Prepared Text Here
SEP 8 2011, 7:13 PM ET2
Remarks of President Barack Obama in an Address to a Joint Session of Congress

Mr. Speaker, Mr. Vice President, Members of Congress, and fellow Americans:

Tonight we meet at an urgent time for our country. We continue to face an economic crisis that has left millions of our neighbors jobless, and a political crisis that has made things worse.

This past week, reporters have been asking "What will this speech mean for the President? What will it mean for Congress? How will it affect their polls, and the next election?"

But the millions of Americans who are watching right now: they don't care about politics. They have real life concerns. Many have spent months looking for work. Others are doing their best just to scrape by - giving up nights out with the family to save on gas or make the mortgage; postponing retirement to send a kid to college.

These men and women grew up with faith in an America where hard work and responsibility paid off. They believed in a country where everyone gets a fair shake and does their fair share - where if you stepped up, did your job, and were loyal to your company, that loyalty would be rewarded with a decent salary and good benefits; maybe a raise once in awhile. If you did the right thing, you could make it in America.

But for decades now, Americans have watched that compact erode. They have seen the deck too often stacked against them. And they know that Washington hasn't always put their interests first.

The people of this country work hard to meet their responsibilities. The question tonight is whether we'll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy; whether we can restore some of the fairness and security that has defined this nation since our beginning.

Those of us here tonight can't solve all of our nation's woes. Ultimately, our recovery will be driven not by Washington, but by our businesses and our workers. But we can help. We can make a difference. There are steps we can take right now to improve people's lives.

I am sending this Congress a plan that you should pass right away. It's called the American Jobs Act. There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that's been supported by both Democrats and Republicans - including many who sit here tonight. And everything in this bill will be paid for. Everything.

The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. You should pass this jobs plan right away.

Everyone here knows that small businesses are where most new jobs begin. And you know that while corporate profits have come roaring back, smaller companies haven't. So for everyone who speaks so passionately about making life easier for "job creators," this plan is for you.

Pass this jobs bill, and starting tomorrow, small businesses will get a tax cut if they hire new workers or raise workers' wages. Pass this jobs bill, and all small business owners will also see their payroll taxes cut in half next year. If you have 50 employees making an average salary, that's an $80,000 tax cut. And all businesses will be able to continue writing off the investments they make in 2012.

It's not just Democrats who have supported this kind of proposal. Fifty House Republicans have proposed the same payroll tax cut that's in this plan. You should pass it right away.

Pass this jobs bill, and we can put people to work rebuilding America. Everyone here knows that we have badly decaying roads and bridges all over this country. Our highways are clogged with traffic. Our skies are the most congested in the world.

This is inexcusable. Building a world-class transportation system is part of what made us an economic superpower. And now we're going to sit back and watch China build newer airports and faster railroads? At a time when millions of unemployed construction workers could build them right here in America?

There are private construction companies all across America just waiting to get to work. There's a bridge that needs repair between Ohio and Kentucky that's on one of the busiest trucking routes in North America. A public transit project in Houston that will help clear up one of the worst areas of traffic in the country. And there are schools throughout this country that desperately need renovating. How can we expect our kids to do their best in places that are literally falling apart? This is America. Every child deserves a great school - and we can give it to them, if we act now.

The American Jobs Act will repair and modernize at least 35,000 schools. It will put people to work right now fixing roofs and windows; installing science labs and high-speed internet in classrooms all across this country. It will rehabilitate homes and businesses in communities hit hardest by foreclosures. It will jumpstart thousands of transportation projects across the country. And to make sure the money is properly spent and for good purposes, we're building on reforms we've already put in place. No more earmarks. No more boondoggles. No more bridges to nowhere. We're cutting the red tape that prevents some of these projects from getting started as quickly as possible. And we'll set up an independent fund to attract private dollars and issue loans based on two criteria: how badly a construction project is needed and how much good it would do for the economy.

This idea came from a bill written by a Texas Republican and a Massachusetts Democrat. The idea for a big boost in construction is supported by America's largest business organization and America's largest labor organization. It's the kind of proposal that's been supported in the past by Democrats and Republicans alike. You should pass it right away.

Pass this jobs bill, and thousands of teachers in every state will go back to work. These are the men and women charged with preparing our children for a world where the competition has never been tougher. But while they're adding teachers in places like South Korea, we're laying them off in droves. It's unfair to our kids. It undermines their future and ours. And it has to stop. Pass this jobs bill, and put our teachers back in the classroom where they belong.

Pass this jobs bill, and companies will get extra tax credits if they hire America's veterans. We ask these men and women to leave their careers, leave their families, and risk their lives to fight for our country. The last thing they should have to do is fight for a job when they come home.

Pass this bill, and hundreds of thousands of disadvantaged young people will have the hope and dignity of a summer job next year. And their parents, low-income Americans who desperately want to work, will have more ladders out of poverty.

Pass this jobs bill, and companies will get a $4,000 tax credit if they hire anyone who has spent more than six months looking for a job. We have to do more to help the long-term unemployed in their search for work. This jobs plan builds on a program in Georgia that several Republican leaders have highlighted, where people who collect unemployment insurance participate in temporary work as a way to build their skills while they look for a permanent job. The plan also extends unemployment insurance for another year. If the millions of unemployed Americans stopped getting this insurance, and stopped using that money for basic necessities, it would be a devastating blow to this economy. Democrats and Republicans in this Chamber have supported unemployment insurance plenty of times in the past. At this time of prolonged hardship, you should pass it again - right away.

Pass this jobs bill, and the typical working family will get a fifteen hundred dollar tax cut next year. Fifteen hundred dollars that would have been taken out of your paycheck will go right into your pocket. This expands on the tax cut that Democrats and Republicans already passed for this year. If we allow that tax cut to expire - if we refuse to act - middle-class families will get hit with a tax increase at the worst possible time. We cannot let that happen. I know some of you have sworn oaths to never raise any taxes on anyone for as long as you live. Now is not the time to carve out an exception and raise middle-class taxes, which is why you should pass this bill right away.

This is the American Jobs Act. It will lead to new jobs for construction workers, teachers, veterans, first responders, young people and the long-term unemployed. It will provide tax credits to companies that hire new workers, tax relief for small business owners, and tax cuts for the middle-class. And here's the other thing I want the American people to know: the American Jobs Act will not add to the deficit. It will be paid for. And here's how:

The agreement we passed in July will cut government spending by about $1 trillion over the next ten years. It also charges this Congress to come up with an additional $1.5 trillion in savings by Christmas. Tonight, I'm asking you to increase that amount so that it covers the full cost of the American Jobs Act. And a week from Monday, I'll be releasing a more ambitious deficit plan - a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run.

This approach is basically the one I've been advocating for months. In addition to the trillion dollars of spending cuts I've already signed into law, it's a balanced plan that would reduce the deficit by making additional spending cuts; by making modest adjustments to health care programs like Medicare and Medicaid; and by reforming our tax code in a way that asks the wealthiest Americans and biggest corporations to pay their fair share. What's more, the spending cuts wouldn't happen so abruptly that they'd be a drag on our economy, or prevent us from helping small business and middle-class families get back on their feet right away.

Now, I realize there are some in my party who don't think we should make any changes at all to Medicare and Medicaid, and I understand their concerns. But here's the truth. Millions of Americans rely on Medicare in their retirement. And millions more will do so in the future. They pay for this benefit during their working years. They earn it. But with an aging population and rising health care costs, we are spending too fast to sustain the program. And if we don't gradually reform the system while protecting current beneficiaries, it won't be there when future retirees need it. We have to reform Medicare to strengthen it.

I'm also well aware that there are many Republicans who don't believe we should raise taxes on those who are most fortunate and can best afford it. But here is what every American knows. While most people in this country struggle to make ends meet, a few of the most affluent citizens and corporations enjoy tax breaks and loopholes that nobody else gets. Right now, Warren Buffet pays a lower tax rate than his secretary - an outrage he has asked us to fix. We need a tax code where everyone gets a fair shake, and everybody pays their fair share. And I believe the vast majority of wealthy Americans and CEOs are willing to do just that, if it helps the economy grow and gets our fiscal house in order.

I'll also offer ideas to reform a corporate tax code that stands as a monument to special interest influence in Washington. By eliminating pages of loopholes and deductions, we can lower one of the highest corporate tax rates in the world. Our tax code shouldn't give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America.

So we can reduce this deficit, pay down our debt, and pay for this jobs plan in the process. But in order to do this, we have to decide what our priorities are. We have to ask ourselves, "What's the best way to grow the economy and create jobs?"

Should we keep tax loopholes for oil companies? Or should we use that money to give small business owners a tax credit when they hire new workers? Because we can't afford to do both. Should we keep tax breaks for millionaires and billionaires? Or should we put teachers back to work so our kids can graduate ready for college and good jobs? Right now, we can't afford to do both.

This isn't political grandstanding. This isn't class warfare. This is simple math. These are real choices that we have to make. And I'm pretty sure I know what most Americans would choose. It's not even close. And it's time for us to do what's right for our future.

The American Jobs Act answers the urgent need to create jobs right away. But we can't stop there. As I've argued since I ran for this office, we have to look beyond the immediate crisis and start building an economy that lasts into the future - an economy that creates good, middle-class jobs that pay well and offer security. We now live in a world where technology has made it possible for companies to take their business anywhere. If we want them to start here and stay here and hire here, we have to be able to out-build, out-educate, and out-innovate every other country on Earth.

This task, of making America more competitive for the long haul, is a job for all of us. For government and for private companies. For states and for local communities - and for every American citizen. All of us will have to up our game. All of us will have to change the way we do business.

My administration can and will take some steps to improve our competitiveness on our own. For example, if you're a small business owner who has a contract with the federal government, we're going to make sure you get paid a lot faster than you do now. We're also planning to cut away the red tape that prevents too many rapidly-growing start-up companies from raising capital and going public. And to help responsible homeowners, we're going to work with Federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4% -- a step that can put more than $2,000 a year in a family's pocket, and give a lift to an economy still burdened by the drop in housing prices.

Other steps will require Congressional action. Today you passed reform that will speed up the outdated patent process, so that entrepreneurs can turn a new idea into a new business as quickly as possible. That's the kind of action we need. Now it's time to clear the way for a series of trade agreements that would make it easier for American companies to sell their products in Panama, Colombia, and South Korea - while also helping the workers whose jobs have been affected by global competition. If Americans can buy Kias and Hyundais, I want to see folks in South Korea driving Fords and Chevys and Chryslers. I want to see more products sold around the world stamped with three proud words: "Made in America."

And on all of our efforts to strengthen competitiveness, we need to look for ways to work side-by-side with America's businesses. That's why I've brought together a Jobs Council of leaders from different industries who are developing a wide range of new ideas to help companies grow and create jobs.

Already, we've mobilized business leaders to train 10,000 American engineers a year, by providing company internships and training. Other businesses are covering tuition for workers who learn new skills at community colleges. And we're going to make sure the next generation of manufacturing takes root not in China or Europe, but right here, in the United States of America. If we provide the right incentives and support - and if we make sure our trading partners play by the rules - we can be the ones to build everything from fuel-efficient cars to advanced biofuels to semiconductors that are sold all over the world. That's how America can be number one again. That's how America will be number one again.

Now, I realize that some of you have a different theory on how to grow the economy. Some of you sincerely believe that the only solution to our economic challenges is to simply cut most government spending and eliminate most government regulations.

Well, I agree that we can't afford wasteful spending, and I will continue to work with Congress to get rid of it. And I agree that there are some rules and regulations that put an unnecessary burden on businesses at a time when they can least afford it. That's why I ordered a review of all government regulations. So far, we've identified over 500 reforms, which will save billions of dollars over the next few years. We should have no more regulation than the health, safety, and security of the American people require. Every rule should meet that common sense test.

But what we can't do - what I won't do - is let this economic crisis be used as an excuse to wipe out the basic protections that Americans have counted on for decades. I reject the idea that we need to ask people to choose between their jobs and their safety. I reject the argument that says for the economy to grow, we have to roll back protections that ban hidden fees by credit card companies, or rules that keep our kids from being exposed to mercury, or laws that prevent the health insurance industry from shortchanging patients. I reject the idea that we have to strip away collective bargaining rights to compete in a global economy. We shouldn't be in a race to the bottom, where we try to offer the cheapest labor and the worst pollution standards. America should be in a race to the top. And I believe that's a race we can win.

In fact, this larger notion that the only thing we can do to restore prosperity is just dismantle government, refund everyone's money, let everyone write their own rules, and tell everyone they're on their own - that's not who we are. That's not the story of America.

Yes, we are rugged individualists. Yes, we are strong and self-reliant. And it has been the drive and initiative of our workers and entrepreneurs that has made this economy the engine and envy of the world.

But there has always been another thread running throughout our history - a belief that we are all connected; and that there are some things we can only do together, as a nation.

We all remember Abraham Lincoln as the leader who saved our Union. But in the middle of a Civil War, he was also a leader who looked to the future - a Republican president who mobilized government to build the transcontinental railroad; launch the National Academy of Sciences; and set up the first land grant colleges. And leaders of both parties have followed the example he set.

Ask yourselves - where would we be right now if the people who sat here before us decided not to build our highways and our bridges; our dams and our airports? What would this country be like if we had chosen not to spend money on public high schools, or research universities, or community colleges? Millions of returning heroes, including my grandfather, had the opportunity to go to school because of the GI Bill. Where would we be if they hadn't had that chance?

How many jobs would it have cost us if past Congresses decided not to support the basic research that led to the Internet and the computer chip? What kind of country would this be if this Chamber had voted down Social Security or Medicare just because it violated some rigid idea about what government could or could not do? How many Americans would have suffered as a result?

No single individual built America on their own. We built it together. We have been, and always will be, one nation, under God, indivisible, with liberty and justice for all; a nation with responsibilities to ourselves and with responsibilities to one another. Members of Congress, it is time for us to meet our responsibilities.

Every proposal I've laid out tonight is the kind that's been supported by Democrats and Republicans in the past. Every proposal I've laid out tonight will be paid for. And every proposal is designed to meet the urgent needs of our people and our communities.

I know there's been a lot of skepticism about whether the politics of the moment will allow us to pass this jobs plan - or any jobs plan. Already, we're seeing the same old press releases and tweets flying back and forth. Already, the media has proclaimed that it's impossible to bridge our differences. And maybe some of you have decided that those differences are so great that we can only resolve them at the ballot box.

But know this: the next election is fourteen months away. And the people who sent us here - the people who hired us to work for them - they don't have the luxury of waiting fourteen months. Some of them are living week to week; paycheck to paycheck; even day to day. They need help, and they need it now.

I don't pretend that this plan will solve all our problems. It shouldn't be, nor will it be, the last plan of action we propose. What's guided us from the start of this crisis hasn't been the search for a silver bullet. It's been a commitment to stay at it - to be persistent - to keep trying every new idea that works, and listen to every good proposal, no matter which party comes up with it.

Regardless of the arguments we've had in the past, regardless of the arguments we'll have in the future, this plan is the right thing to do right now. You should pass it. And I intend to take that message to every corner of this country. I also ask every American who agrees to lift your voice and tell the people who are gathered here tonight that you want action now. Tell Washington that doing nothing is not an option. Remind us that if we act as one nation, and one people, we have it within our power to meet this challenge.

President Kennedy once said, "Our problems are man-made - therefore they can be solved by man. And man can be as big as he wants."

These are difficult years for our country. But we are Americans. We are tougher than the times that we live in, and we are bigger than our politics have been. So let's meet the moment. Let's get to work, and show the world once again why the United States of America remains the greatest nation on Earth. Thank you, God bless you, and may God bless the United States of America.

[madd0ct0r]

wooo for infrastructure.

EDIT: seriously - i've always been puzzled the way the USA has just let it's networks decay. Your's is probably one of the best suited countries in the world for high speed rail, with a huge railroad tradition (mythology practically) and while everyone else has got on with it, nothing.

[erik_t]

Best suited in the world for high speed rail? Seriously? Outside of the Northeast Corridor (which is already reasonably high speed), the United States has a vastly spottier and more distributed population than any of the dozen of nations that currently operate a high-speed passenger rail network.

Seattle to Chicago is about 34 hours by Amtrak (79mph max). High speed rail might chop that by as much as a factor of two or so, but 10-15 hours is still a long damned trip and is not going to be competitive with commercial aviation with most people.

[MKSheppard]

I went onto Amtrak.com and used the times given in their online booking system; and looked up the mileages in their route schedules; and here are the results:

Average Long Distance speeds with current equipment and trackage is around 50~ MPH, whether it's the Silver Meteor going from WASH to ORL, or the Empire Builder from CHI to SEA.

Average HSR speeds with current equipment on the 226 miles between WAS and NYP in the NEC are:

AEM-7 + Amfleets: 70~ MPH
Acela Express: 80-84~ MPH

(Above NYP, NEC performance falls off, since the old New Haven lines are horribly laid out, etc).

You can see how if we adopted 110~ MPH service (AEM-7 or so), the timing to WASH-ORL over the 900~ mile route would fall to 12 hours and 51 minutes; which is an improvement over the current 17 hours and 25 minutes.

If through some magical fairy dust, we got 150~ MPH trainsets and grade separated the entire route along with having new track laid to avoid freight yards; time would fall to 10 hours and 43 minutes.

...yeah not feasible.

Much better ROIs can be achieved through upgrading the long distance routes via funding new sidings for the freight railroads to sit on to allow passenger trains to pass through; and in buying new sleeper/coach equipment for the long distance routes.

The newest bilevel Superliner II car in Amtrak's inventory is 16 years old; but the Western trains have it easy -- they have fairly (newish) dining cars and coach cars.

Out East, where everything's grade limited by tunnels, the typical long distance coach is an Amfleet II. The newest Amfleet II is 28 years old. And lets not get started on the dining cars -- the newest dining car on the East's LD routes is 53 years old!!!

[Yes, I know they've been beautifully restored on the inside, but they have to be a nightmare to maintain compared to a newer car]

To put this in context, when Amtrak took over all the LD routes etc in 1971; a significant fraction of it's equipment was about 13-15 years old; having been ordered in the very late 1950s by the passenger railroads.

[Thanas]

They could always purchase new rolling stock.

[MKSheppard]

Amtrak's best moneymaker is long distance sleeper cars.

On the Empire Builder Route, only 14.34% of passengers travelled in sleepers from January FY10 to December FY11; yet they accounted for 42.48% of all ticket revenue!!!

There's certainly demand for a train service from New York City to Miami, especially with increasing TSA assholishness in the airports; but Amtrak simply can't take advantage of each fuckup the TSA inflicts upon us due to rolling stock limitations.

Amtrak nowadays sets a limit of 24 cars in the summer and 18 in the winter for their trains.

(The winter reduction is due to the Head End Power system capacity to heat the cars)

But back in the late 80s early 90s, the Silver Star routinely ran 30~ cars with three diesels on the front; and in the early 70s, the Silver Star/Meteor's consist was 18-22 cars; with two working diners to service it all.

Right now, the current Silver Meteor consist is:

1 Baggage car
3 Viewliners
1 Heritage Diner
1 Amfleet II Cafe
4-5 Amfleet II Coaches

for 10-11 cars.

You could easily double the number of sleepers if you had the rolling stock, which would mean you could cut sleeper prices with three months of warning down from $370~ for a roomette and $894~ for a bedroom, and still make money hand over fist.

[MKSheppard]

They could always purchase new rolling stock.

They are. A subsidary of Construcciones y Auxiliar de Ferrocarriles (CAF) in New York will be manufacturing the following number of Viewliner IIs

25 sleepers
25 diners
25 baggage/dorms
55 baggage cars

First delivery is expected to be October 2012.

EDIT: Also, the prototype Viewliner I Diner has been refurbished and will be entering revenue service this fall -- the first new Eastern Diner in about 50~ years. It will also have a name, unlike all Amtrak Rolling stock currently. Name is 8400 Indianapolis.

[Thanas]

CAF? That is a bit of an odd choice, to be honest. I am wondering why not one of the Greats was chosen - like Alstom, Siemens, Bombardier or Hitachi/Kawasaki

[Simon_Jester]

Do they have subsidiaries located in the US? It might be partly an "encourage local industry" thing.

[MKSheppard]

CAF? That is a bit of an odd choice, to be honest. I am wondering why not one of the Greats was chosen - like Alstom, Siemens, Bombardier or Hitachi/Kawasaki

According to WIKI, which cites Trains magazine:

According to Amtrak president Joseph Boardman, CAF's capability to construct the entire car at its factory, rather than relying on subcontractors, as well as submitting a lower bid, were the reasons the company won the contract over Alstom, the only other bidder.

[MKSheppard]

In an attempt to get this somewhat back on topic; other than WOO TRAINS -- Obama's speech was a fine example of verbal diarrhea. All US presidents are prone to this, but Obama much more than others. You could cut entire pages out of his speech and it wouldn't change a thing.

Back to TRAINS:

STIMULUS

Amtrak was able to take advantage of the ARRA Porkulus quite well, since they had a huge backlog of wreck damaged equipment that had been waiting on sidings for years for a chance at money. So when BARI'BAMA demanded everything be Shovel Ready; Amtrak had a plan [tm].

Of course, I've also seen ARRA Porkulus signs on trivial piece of shit like tearing apart and renovating the Lincoln Monument's reflecting pool. That's a crucial stimulus that will get the economy going?

[Darth Fanboy]

I can't wait for high speed rail between LA and San Francisco. I'm looking forward to a day where I can avoid airports more often, and compared to airline seats the Amtrak cars I usually ride on are giant. Reliable regional routes are the first step, well, in my opinion that is.

[Dominus Atheos]

Wow, this got hijacked quickly.

On topic, MSNBC is reporting something I can't fine any other source for:

Obama was proposing what he called the American Jobs Act, which he said would... make permanent a temporary cut in the individual tax rate, which was reduced from 6.2 percent to 4.2 percent for this year only.

Does anyone know if that's true or not?

[Simon_Jester]

The problem is that it's just not feasible to get an LA to Washington DC train route to take less than a full day- and it'd basically take TSA doing rectal searches at the airports to convince people it was worth spending a full day on a train instead of six hours on a plane.

Even one day would be stretching it- the current timetable is three days. You could shave a good deal off that by eliminating whistle-stop stations, things like that, but getting it under two would almost certainly require a massive investment in dedicated lines that wouldn't be useful for much of anything but passenger rail. And that's not going to happen until we're sure enough people take the trains to make it worth the effort, which creates a chicken-and-egg dilemma.

[Block]

Wow, this got hijacked quickly.

On topic, MSNBC is reporting something I can't fine any other source for:

Obama was proposing what he called the American Jobs Act, which he said would... make permanent a temporary cut in the individual tax rate, which was reduced from 6.2 percent to 4.2 percent for this year only.

Does anyone know if that's true or not?

I think this was the social security or medicare tax rate.

I thought it was a really well delivered speech, but we'll see if it's just more talk, or if something worthwhile gets done.

[CaptainChewbacca]

I can't wait for high speed rail between LA and San Francisco. I'm looking forward to a day where I can avoid airports more often, and compared to airline seats the Amtrak cars I usually ride on are giant. Reliable regional routes are the first step, well, in my opinion that is.

You and me both. The planned highspeed network would have stops in my hometown and my parents' home town. Instead of a 2-hour trip, I can go door-to-door in 75 minutes without the hassle of traffic! If a round-trip ticket is $50 or less, thats cost-effective for me.

[Count Chocula]

I heard very briefly that O was talking about reducing corporate tax rates in his speech. Is this true? I was at a PTA meeting and missed his talk. I didn't see that in the transcripts.

Reading the posted speech, I got the gist of the following items:
* More "shovel ready" jobs;
* Higher taxes for the rich, whoever they are;
* We're tough AFY Amurricans and will overcome!
* Fix teh skoolz for teh kids! (And unionized teachers)
* Cut 1.5 trillion dollars, no time frame, never mind you couldn't cut $100 billion last time around
* Reduce interest Freddie Mac and Fannie Mae charge for home loans, never mind they've asked for another bailout
* Did I mention tax the rich?

I'm amused that the President's big time speech has prompted such avid discussion of rail transport, but I don't much care about that. Did anyone watch the speech, and if so, what are your impressions?

[madd0ct0r]

jesus - i was expecting a snide put down and further discussion of the speech - clearly it's not just rockets and tanks that does it for shep.

(seriously - could we split pretty much the entire thread off? - Long distance and high speed rail in america is a good topic)

rereading the speech - I don't really understand exactly how he's planning on paying for it.
He starts by emphasising it's all paid for (does he mean accounted for?)
but then moves into mentioning the budget cap. help a foreigner.

[Eframepilot]

I thought it was a really well delivered speech, but we'll see if it's just more talk, or if something worthwhile gets done.

That's up to the Republicans and whether they're willing to put country above party (hah!), or whether Obama can somehow get enough political pressure on them to compromise and pass a significant portion of his bill (unlikely but possible... though I shudder to think of what the Republicans would put into it).

[Thanas]

(seriously - could we split pretty much the entire thread off? - Long distance and high speed rail in america is a good topic)

It stays, seeing as how it was an element of the speech.

[Kon_El]

rereading the speech - I don't really understand exactly how he's planning on paying for it.
He starts by emphasising it's all paid for (does he mean accounted for?)
but then moves into mentioning the budget cap. help a foreigner.

As a part of the bill that ended the debt ceiling standoff recently there was a provision that required congress to come up with an additional 1.5 trillion in deficit reduction. Apparently asking them to find enough additional savings to cover this bill is equivalent to it being paid for... somehow.

[sciguy]

Other steps will require Congressional action. Today you passed reform that will speed up the outdated patent process, so that entrepreneurs can turn a new idea into a new business as quickly as possible. That's the kind of action we need.

This part burned me up. It takes so long to get a patent in the US because the PTO can't afford to hire enough Examiners. It can't afford to hire enough Examiners because Congress doesn't let the PTO keep the money that it collects from inventors' application fees; the money is constantly siphoned off to pay for other federal crap. This is called "fee diversion," and is the true reason why we have a backlog of 700k unexamined applications. Originally H.R. 1249 (the bill that Obama is referring to here) had a provision that forbade fee diversion from the PTO, but it was removed. To make matters worse, H.R. 1249's shift from the current first-to-invent system to a first-to-file system will probably only make the backlog worse, because it will encourage applicants to file on every incremental improvement they make in a product, rather than waiting and filing one application on all of it when they're done with their R&D cycle. Of course, one would normally expect this to not be a problem, since one would assume that the PTO would use all the extra money from the additional application fees to hire more Examiners. Unfortunately most of that money will be taken by Congress and spent on other things. So...yeah. Don't expect the patent process to speed up any time soon.

[aerius]

rereading the speech - I don't really understand exactly how he's planning on paying for it.
He starts by emphasising it's all paid for (does he mean accounted for?)
but then moves into mentioning the budget cap. help a foreigner.

Unicorns. Skittles shitting unicorns. And mana from heaven.

Serious answer? They'll just print it or use some kind of phony accounting to make the books "balance". Either that or it's an outright lie.

[Sea Skimmer]

The only way the US is going to get widespread high speed rail is if we put all the unemployed people to work hacking out rights of way with shovels. Other then a few select routes it'd be better to throw rail money at improving existing track and helping out the freight lines to open up more double stack container corridors.

This part burned me up. It takes so long to get a patent in the US because the PTO can't afford to hire enough Examiners. It can't afford to hire enough Examiners because Congress doesn't let the PTO keep the money that it collects from inventors' application fees; the money is constantly siphoned off to pay for other federal crap. This is called "fee diversion," and is the true reason why we have a backlog of 700k unexamined applications. Originally H.R. 1249 (the bill that Obama is referring to here) had a provision that forbade fee diversion from the PTO, but it was removed. To make matters worse, H.R. 1249's shift from the current first-to-invent system to a first-to-file system will probably only make the backlog worse, because it will encourage applicants to file on every incremental improvement they make in a product, rather than waiting and filing one application on all of it when they're done with their R&D cycle. Of course, one would normally expect this to not be a problem, since one would assume that the PTO would use all the extra money from the additional application fees to hire more Examiners. Unfortunately most of that money will be taken by Congress and spent on other things. So...yeah. Don't expect the patent process to speed up any time soon.

The problem with first to invent is while it seems fair, exactly because of huge backlog, which I don't think its realistic to ever make it go fully away, you end up with a whole lot of patent trials to decide who got what first. Those take years to sort out, and they cost a lot of money. Its already very expensive to make your patent worth something; since you need to patent in multiple countries if you want any long term success and patent trials just further favor people with money over the small guy. First to file may screw some people over, but it means once you have the patent, you have the patent and that is worth a lot.

[Surlethe]

CAF? That is a bit of an odd choice, to be honest. I am wondering why not one of the Greats was chosen - like Alstom, Siemens, Bombardier or Hitachi/Kawasaki

Like Simon said - I read on Megan McArdle's blog a while ago that Amtrak is required to purchase rolling stock constructed in the US.