A Jump on Jobs: Fox Has Details of Obama's Announcement

President Obama's speech at the Brookings Institution will not take place until 11:15am, but Fox News and Fox Business are all over the details at this hour.

Major Garrett reports that President Obama will announce an effort to boost the nation's infrastructure, like roads and bridges, as well as an injection of money for small businesses.

FBN's Peter Barnes breaks down the numbers. His contacts tell him the goal is to appropriate $20-40 billion to increase small business lending, to come from unused TARP funds, and another $25-30 billion for tax credits for small business to hire people to create new jobs.

TARP, you'll remember, was the Troubled Asset Relief Program, designed to pull the nation out of its financial woes. The program has a surplus of funds now, which the administration wants to tap into to create jobs.