(video taken down)

Update 7:50 pm: This is what he’s proposing, it’s not pretty.

Jobs Plan by the Numbers — National Journal

Tax Cuts: $253 billion total

Employer payroll taxes by $65 billion: This is designed to cut payroll taxes in half for 98 percent of businesses, according to a senior administration official.

Employee payroll cut by $175 billion: By extending the current tax holiday set to expire in December, the president’s plan would eliminate payroll taxes for firms that increase their payroll by adding new workers or increasing the wages of their current workers (up to $50 million in wage increases.)

Long-term unemployment tax credit by $8 billion: According to the Bureau of Labor Statistic, those out of work for more than 27 months make up the bulk of the unemployed in America.

Spending: $194 billion total

Infrastructure bank by $10 billion: Echoing the bipartisan proposition brought by Sens. John Kerry, D-Mass., and Kay Bailey Hutchison, R-Texas.

Transportation improvements by $50 billion: For immediate improvement to transportation surfaces.

Unemployment insurance and reform by $49 billion: Extending payments to the unemployed would keep 6 million people who would see the end of the line in December. The reform would allow unemployment insurance to be given to workers whose hours are reduced but not necessarily laid off. The money would work as a bridge for workers to keep gaining experience before they receive a full time job.

Modernizing schools by $30 billion: This supply would be split between federal and state hands to refurbish at least 35,000 public schools. The money that would be allocated is less than the $50 billion proposed by former White House adviser Jared Bernstein. The plan would also protect teachers at risk of losing their jobs.

Funds for low-income students by $5 billion: Part of the “pathway to work” fund. The current unemployment insurance rate for young people is “terrible, deplorable,” according to a senior administration official.

Rehabilitation and repurposing of vacant property by $15 billion: The government will pay people to tear down vacant homes and reduce urban blight.

Speech comments/notes under fold:

Reminder from our earlier post on the over/under bets for tonight:

“millionaires and billionaires” +3 (one mention)

“corporate and/or private jet owners” +2 (0)

“tax loopholes” +3 (3 times)

“rich pay their fair share” +2 (2 times)

“since the Great Depression” +1 (0)

“I inherited” +3 (0)

“vulnerable Americans” +3 (0)

“bipartisan” +7 (0)

6:46 pm: Roughly 15 minutes under Mr. Wonderful blows smoke up our ass.

• Here he comes, grab your shovel.
• More shared sacrifice rhetoric. (Doesn’t apply to him)
• “stop the political circus” (he’s the grownup)
• Will be called the “The American Jobs Act”
• Everything will be paid for (yeah right)
• Lectures Congress: “You should pass this jobs plan right away” (stern-voice alert)
• Pass this jobs bill X 3
• Calling for a LOT more stimulus spending.
• “Are we going to sit here and watch the Chinese build high-speed rail when we can borrow money from them to build it here?”
• “No more boondoggles” (like Solyndra?)
• “You should pass this right away” “everyone goes back to work”
• Now he’s dissing South Korea!
• So he’s saying “pass this jobs bill” with each topic change. Wonderful.
• “pay their fair share” +1
• “tax loopholes” +1
• “pay their fair share” +2
• “tax loopholes” +2
• “tax loopholes” +3
• “millionaires and billionaires” +1
• “This isn’t class warfare”
• “If Americans can buy Kias and Hyundais, I want to see folks in South Korea driving Fords and Chevys and Chryslers.”
• GOP bad for concentrating on cutting spending and eliminating regulations
• Unions just got a major shout out as Trumka demanded: “I reject the idea that we have to strip away collective bargaining rights to compete in a global economy.”
• Republicans should be like Abraham Lincoln or something.
• Anyone else feel like they’re being lectured by dad?
• “Already, we’re seeing the same old press releases and tweets flying back and forth” decrying his plan
• Someone make Joe Biden sit down.

Done.