Obama Ratchets Up Pitch for $450B Jobs Plan

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President Obama ratcheted up his campaign to sell his $450 billion plan for job growth, Tuesday, calling for higher taxes and cuts in spending to pay for it all.

Obama delivered a fiery speech on his plan, urging once again for lawmakers to pass it without delay.

He spoke from an Ohio high school to a receptive crowd, but the plan is likely to be a tough sell to Republicans on Capitol Hill.

On Monday, the president sent a message to members of Congress, saying they should act quickly to approve his jobs program.

"This is the bill that Congress needs to pass. No games. No politics. No delays," Obama said.

Flanked by policemen, firefighters and construction workers in the White House Rose Garden, the president said his $447 billion jobs plan is a matter of priorities.

"Do we keep tax loopholes for oil companies or do we put teachers back to work?" Obama challenged.

However, the president's jobs plan may already be dead on arrival in the House of Representatives. Republicans are opposed to the tax hikes and tax changes proposed to fund the bill.

Among the items of contention in the measure:

  • $405 billion by limiting charitable contributions and other deductions currently taken by Americans earning more than $200,000 per year.
  • $41 billion by closing loopholes for oil and gas companies.
  • $18 billion by requiring fund managers to pay higher taxes on certain types of income.

Speaking in South Carolina Monday, Republican presidential candidate Mitt Romney criticized the Obama plan, saying the president's ideas are outdated.

"We're in a cell phone world now and President Obama is continuing to pursue pay phone policies and we're in a smart phone world," Romney said.

"His policies are not working," he added. "He keeps on jamming quarters into a pay phone not understanding why the economy doesn't get going again."

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