Obama's $300 Billion Jobs Plan Will Fail

By now, the White House has leaked the most salient aspects of President Obama's plan to reinvigorate the American jobs market. It is said to amount to $300 billion, give or take, the largest component being an extension of both the current payroll tax break and unemployment insurance benefits. The rest will consist of education grants for retraining, some form of infrastructure spending with yet another call for a public-private partnership in the form of an infrastructure bank, and direct aid to state and local governments to stave off teacher layoffs. The White House also has hinted at some as-yet-undisclosed ideas to be unveiled during his speech to Congress, and has not even officially confirmed any of the above.