Obama Admits Job Creation Stalled

Implicit in the president's very familiar sounding job proposals last night was a confession - the trillions spent so far haven't worked, and job creation has stalled.

With the nation verging on renewed recession, President Barack Obama urged a divided Congress Thursday night to back his new $447 billion jobs package, which he promised would give a "jolt to an economy that has stalled."

"The infrastructure bank model that is being promoted by President Obama is all smoke and mirrors and continues to funnel taxpayer dollars to fund projects in a vain attempt to stimulate the economy in the short term without accounting for the long-term costs," Jason Fichtner, a policy researcher at George Mason University's Mercatus Center, said in a statement.

The utter disregard for the debt situation is what I found most offensive about the speech - acting as if there's no concern over sending good money after bad.