Skip Nav
Consumerism
51 Affordable Valentine's Day Gifts For Any Type of Guy
Disney
19 Facts About Disney's Very Own Private Island
Self Improvement
44 Quote Tattoos That Will Change Your Life

Obama's Jobs Plan

Jobs and the Economy: What to Expect in the Next 4 Years

The election may be over, but now the hard work starts — or in this case, continues. President Obama has had the tough job of reviving an economy that's the worst the nation has seen since the Great Depression. And while more than 12 million Americans remain unemployed, numbers are starting to improve. In the spirit of the president's reelection last night, let's take a look at what the next four years will look like under his plan for taxes, job creation, and the national debt.

Jobs

"We can help big factories and small businesses double their exports, and if we choose this path, we can create a million new manufacturing jobs in the next four years," Obama said in his 2012 Democratic National Convention speech in September. That plan seems to be working, albeit slowly. In October, manufacturers added 13,000 jobs after getting rid of 27,000 in August and September.

Through his plan to promote green energy, Obama said he could create more than 600,000 new jobs by the end of the decade.

Something he echoed throughout his 2012 campaign, Obama promised to get rid of tax breaks for companies that outsource jobs overseas; he's also said he will provide incentives for companies so they have more money to hire from within the US.

When it comes to job training, Obama has pledged to put $3 billion into helping nearly 22 million workers.

Taxes

Although in his first term he renewed Bush-era tax cuts for upper-class Americans as a compromise with Republicans, Obama now promises to increase those tax rates. Individuals making over $200,000 should expect higher taxes, as should people making more than $1 million, who will be expected to pay a share of 30 percent.

Obama doesn't want the rest of Americans to experience any tax increases; he is also trying to make tax breaks for lower-income Americans more permanent.

The National Debt

By strategies like increasing taxes on the wealthy and ending the wars in Iraq and Afghanistan, Obama plans to cut the national deficit by $4 trillion over the next 10 years.

Image Source: Getty
Around The Web
Ellen DeGeneres and Barack Obama Document Historical Moment on Her Show with a Selfie
Michelle Obama Wears Jason Wu at State of the Union 2013
Making Extra Income
Top Women in Politics
Things That Are Not Worth the Money
Barack and Michelle Obama PDA 2012
9-Year-Old Syrian Refugee at State of the Union 2016

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

Join The Conversation
Scott3458563 Scott3458563 3 years
So Obama wants to send 22,000,000 to school.  Are there 22,000,000 slots out there?  And what are these 22,000,000 going to learn?  22,000,000 green jobs at a time when most of Obama's green jobs have crapped out?   Wasn't the "Summer Of Recovery" like 4 years ago?  Or was that just another massive Obama lie?
Latest Career & Money
X