President Obama will propose spending a whopping $300 billion in jobs in his address to a joint session of Congress Thursday, Bloomberg is reporting.
In so doing, the president is taking a huge political gamble. The House – the larger of the two bodies – is in control of the Republicans. If they give him a lukewarm response, the proposal may be doomed from the start.
It could also affect his political career.
Obama hasn’t been fairing well in the polls. While his motivation for giving this speech may be altruistic, there are political consequences.
If he is successful in rallying the Congress – and by extension – the nation – around his jobs bill, he could save his presidency. But if he falls flat, he may do more harm to his re-election candidacy than any of the potential Republican challengers.