Money Morning Mailbag: GOP Announces “Pledge to America” as Voters Question Obama’s Economy

Republicans this week outlined their plan for reform in one-page summary entitled " A Pledge to America ." Republicans today hope their pledge will do for them what the "Contract with America" did for Republicans in 1994 when the GOP gained 54 House seats and regained control of Congress for the first time in 40 years. The proposal's goals include immediately canceling any unused funds from last year's $787 billion stimulus program, permanently extending the Bush tax cuts , repealing the new healthcare law, cutting $100 billion in discretionary spending, and freezing the size of the "nonsecurity" federal work force.  It also calls to end government control of Fannie Mae and Freddie Mac . The plan comes at a time when many Americans are questioning the economic policies put forth by the Obama administration. With the unemployment rate stuck near 10%, President Obama two weeks ago  announced a new six-year infrastructure plan, which says will create a "substantial" number of jobs and improve the country's transportation system .