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Biddy's Bakery

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On September 8th 2011, President Obama gave a speech on what he calls the American Jobs Acts. It’s basically and act that consists of a combination of tax cuts and creation of jobs as well as helping the unemployed and Unemployment insurance.
Taxes:
* Helping small businesses by cutting taxes in half first five million dollars in wages and temporarily cutting payroll taxes all together on new employees. * Allowing all businesses to make immediate deductions on expenses for new plant and equipment * Working with the SEC to reduces burdens on small businesses and help them gin capital. * Tax credit for companies hiring veterans * Tax credit for businesses hiring long-term unemployed * Cutting payroll taxes in half
Creating more jobs: * Preventing layoffs of union workers (teachers, cops, etc) * Renovating schools to both create jobs and improve learning. * Create more jobs by fixing and improving our roads, rails, and airports. And something called project rebuild which will create more construction jobs. * Expanding access to high speed wireless which will free up the nations spectrum (whatever that means).

Unemployment: * Reform that includes extending unemployment benefits. * A work sharing plan that will allow employees to keep their jobs at less hours rather than being laid off * Wage insurance to help reemploy older workers and help people start their own businesses. * A discrimination act which prohibits employers to discriminate against unemployed workers. * Expanding job opportunities for young workers

The President also talked about working with Fanny Mae and others to help people refinance their homes at lower rates which will help put more money in their pockets.
Obama promised that $447 billion will be completely paid for without adding the U.S. deficit. How this is possible,

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