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President Barack Obama speaks on the American Jobs Act at the University of Richmond in Richmond, Virginia on September 9, 2011. Obama's $447 billion jobs plan would boost growth in the sluggish economy, though it likely will not survive intact amid Washington's deep divisions, economists said

Last night, the president laid a $450 billion plan, almost evenly split between tax cuts and new spending. He said, ""It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business." Roben Farzad, senior writer for Bloomberg Businessweek, joins Madeleine with reaction from Wall Street and private economists.