President Obama cited small businesses as "the primary drivers of job creation" and called on Congress, especially the GOP, to tackle a bill aimed at improving the climate for such enterprises.
In his Friday speech from the White House, which came on the heels of news that private sector jobs had been created for an eighth straight month, Obama said the legislation should be Congress' first order of business when it reconvenes this month. Legislators, he said, need to "put aside partisanship and be the leaders the American people need us to be."
He directly accused Republicans of blocking the $55 billion legislation package. Senate Democrats are hoping to OK the package and get it to the president's desk well before November's midterm elections.
Among the provisions in the bill are loan enhancements that would double what small business owners can borrow to expand their companies, as well as billions in tax-cut extensions.
"It is paid for," the president said. "It will not add one dime to our deficit."
Obama said it took years to create the country's economic problems, and it will take years to right them.
He said, however, that he wants "all Americans to remind themselves there are better days ahead" and that the United States remains the world leader in innovation, discovery and entrepreneurship.
"There's no quick fix for the worst recession since the Great Depression," he said.
There are signs the economy is improving, though. He said August saw 67,000 private sector jobs created, while official July numbers indicated 107,000 private sector jobs were created.
In contrast, the latest unemployment numbers show joblessness rose from 9.5 percent to 9.6 percent last month, and the economy lost 54,000 jobs overall. The job loss was attributed to the decline in temporary Census Bureau positions.
To "break the back of this recession," Obama said, more steps are needed, including the small business legislation, extending tax cuts for the middle class and directing investments to areas where job-creation potential is the highest.
The House's No. 2 Republican, responding to the unemployment numbers prior to Obama's speech, said the report shows "the American economy still has a long way to go."
Rep. Eric Cantor of Virginia had a starkly different outlook than Obama regarding the measures being taken to resurrect the economy.
"The policies being pursued by the White House and Democrat leaders in Washington continue to create uncertainty and fear that is inhibiting productivity, innovation and job creation," he said.
The president is scheduled to give two speeches next week in an attempt to frame his administration's response to the recession.
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The whole systems sucks. Neither party can be trusted. They all Lie! There was a time in this country where leaders wanted to lead all of the people to a future of freedom and success for all. The gap between the rich and poor in this country is obsurd. The lack of community and a country for one is lost to Corporations such as Goldman Sachs and the White House Corporation (because that is what a governemnt has become – a cash cow for our elected "Leaders")....if the recession was not so bad and I had President's Obama's dime, I might seriously consider leaving this "great" nation of greed and hypocracy...
correct, on all counts.....2% holding over half the wealth? very absurd
Yep.. the true gift of capitalism
We need to improve the short and long term business climate and create some certainty.
1. Decrease corporate tax rates, they are outrageous and among the highest in the world.
2. Create incentives for companies to hire American workers and keep jobs here.
3. Look at trade deficits and place tariffs on countries that have tariffs on our products.
4. Halt the expansion of government. Government should not control things, it needs to enforce fair laws that protect people.
5. Do not pass huge costly legislation like Healthcare and Cap & Trade, particularly during recessions. Enough with the social agendas, focus on jobs.
6. Most importantly, to remain an economic superpower, we must stop spending. All budgets need to be balanced and there need to be cuts across the board. Stop giving so much aid to other countries and the U.N. and no more unjustified costly wars.
I could post more but people will stop reading if too long...
This is not a democrat or republican plan...stop cheering 1 side or the other. Focus on solutions.
I don't agree with certain points of yours, but very well said nonetheless. People these days treat politics like it's a sport where their favorite team is playing against their least favorite team. If one "team" does well, then that's not a good thing, right? It's a joke. Too much concern over one team winning instead of the entire country prospering. We've become a country of cheerleaders.
Germany's economy is booming. The main reason is that they eliminated the largest cost to businesses having and keeping employees. They put the entire country on one large group insurance policy. And the goverment doesn't foot the bill. See Sunday morning TV from a couple of weeks ago.
http://www.cnn.com/video/#/video/bestoftv/2010/08/22/gps.what.in.the.world.germany.cnn
germany's economy is booming because they chose to keep manufacturing industry alive..this country chose to import substandard junk from China .. that is the difference
agree, we need to abolish it and start anew. The problem is america would shatter into millions of small pieces, a DIVIDED NATION. Unfortunately, Americans can never see eye to eye. You want to know what we all need to overcome is the divisive nature, is we first need to think of ourselves as the same one thing, an American. The biggest hurdles will be; RACE (Black, White, Orange, Brown, Yellow, Red... it doesn't matter what the sun and stars have colored us). RELIGION (We all share one creator! Over our human existence, the leaders have altered the true stories many times. Why? Through lack of true understanding of that one message the creator has left for us, or for reasons of controlling the masses, good and bad. Just accept that everyone shares the same god, and none of the bibles that have made it this far are 100% correct). POLITICAL PARTY (They are exactly the same, and used to divide us. They push issues that purposely provoke one side or the other, strategically turning us into us weak, infighting, fools. They both abuse their powers and do as little as possible, while padding their pockets, and helping out friends, family and whoever they can to keep their seat. Just enough is done to suffice, and keep the american public at bay). Just try to put it in perspective, you are american, our founding fathers set rules for us, so freedom and liberty would survive all attacks. We owe it to them, to not let it slip through our fingers. They witnessed what is happening now, first hand and beat it. They knew banks and big money would do try to do it again. After their last defeat, they regrouped, plotted, and moved so slow, entire generations couldn't see their moves. Like a noose sneakingly, being put around our neck's, once the noose is under our chin, it isn't coming off, and you know what comes next. Time to open your eyes America, our taxes pay them, we employ them, if they are failing us, we need to replace them. We need to exercise our right, and start a peaceful revolution. it starts with practicing our 1st amendment right, and spread the message, start trading more with your neighbors, band together and grow communities. United we stand, Divided we fall.
To Sick and Tired: You should be sick and tired of all the blame being placed at the Repugs. However, take a good look at the history you're talking about. Bush inherited a surplus budget from Clinton (fact). Bush was president when 9/11 happened (fact). Bush decided, on his own, to invade Iraq (fact). Bush lowered taxes, increasing the deficit (fact). Bush passed the first stimulus bill (fact). Bush believed Iraq had WMD's and led America into believing Iraq was attempting to obtain a nuclear weapon (fact). Bush failed as a leader during Hurricane Katrina (fact). Tell me sick and tired, have you had enough facts? Well, I'm sick and tired of all the Repugs denials of these facts. Prez Obama stepped into this mess on Jan.1, 2009 and he's been working very hard for the American people to clean this mess up. I, like you, am sick and tired of all the Repug denials and blaming this Prez for trying to do his job.
Your "facts" are highly questionable.
Bush decided, on his own, to invade Iraq (fact) – Democrats voted overwhelming to authorize force. They were on board with the war until it became good for the politically to oppose it.
Bush believed Iraq had WMD's and led America into believing Iraq was attempting to obtain a nuclear weapon (fact) – So Bush, who you guys say is a complete and bumbling idiot was able to convince France, Germany, Great Britain, the CIA, Hillary Clinton, John Kerry, Bill Clinton, etc that Iraq had WMD? Even while he was gov of TX, when Clinton said that Saddam had WMD, was it Bush who was behind that?
Bush lowered taxes, increasing the deficit (fact) – This is such a pathetic argument that libs like to throw out there. It is our freaking money, not the governments!! If the government wants to lower the deficit, then stop spending!! Letting us keep our own money does not increase the deficit, spending does.
Bush failed as a leader during Hurricane Katrina (fact) – Louisana residents were just polled and responded overwhelmingly that Bush handled Katrina better than Obama handled the oil spill. Bush declared LA a state of emergency even before Katrina hit meaning that the funds and resources were ready. Is it his fault that the local politicians were so clueless as to not use them? They ordered evacuations prior to the storm hitting, but you are telling me it is Bush's fault that people just sat there and didn't leave?
I'm taking CNN off my computer, most here are for our beloved leader, who is clueless, Yes I watch Fox News fair and balanced, no wonder CNN is struggling to stay alive.
You're exactly the kind of person who doesn't add anything of value to the debate. Rather than listen or even argue with people who have a different opinion from you, you'd rather get your whine one with similar minded simpletons.
*rather get your whine ON
There is an option for taht in control panel?? LOL
that.....before the spelling police come after me
Since I didn't know the option was there...after this post I'm going to uninstall FoxNews
RIGHT ON TERRY. CNN HAS BEEN STICKING UP FOR THIS COMMUNITY ACTIVIST WHO DOESN'T HAVE A CLUE WHATS GOING ON.
To jk: So you dispute my "facts"? Bush decided to invade Iraq (fact). Bush proposed and passed the first stimulus bill (fact). Bush tax cuts increased the deficit (fact). Bush leadership failed to inspire, support and encourage the residents of LA and MS during Katrina (fact). Bush failed as a world leader to inspire global cooperation to end unnecessary wars, Somelia, Afghanistan, Iran, N.Korea, & Iraq (fact). Bush saw hugh job losses during his reign (fact). Bush resided over the largest increase in prison growth in recent memory (fact). Bush showed total disrespect to the UN (fact). How do yo like these facts?
Does anyone else think Christina Romer comes off as a huge airhead? I don't care what party she's from I can't stand listening to her speak.
All this rhetoric is coming from the same guy (Obama) who said he was going to cut the deficit in half by the end of his first term. Why should we believe anything he says?
The time has come for you who say 'Throw all the bums out and start all over again!' to take the blinders off! It isn't everyone in Congress who is creating this gridlock that the country faces now – it's one party – the Republicans!
For almost two years they have led an ongoing fight against President Obama and everything he has tried to do to reduce the economic burden that we face. They have used the filibuster in the Senate an unprecedented number of times in order to block any legislation that might otherwise give the President a small victory over unemployment. There are presently over 400 bills sitting in the Senate docket waiting for some kind of action – but the Republicans refuse to act on them for political reasons!
It is their duty to their party god that precludes them from doing anything which might help the country, and to reward them in November with a return to power would be the most catastrophic mistake this country could possibly make!!
They are almost giddy over their recent successes at stalling any Democratic proposals for recovery. John Boehner is literally measuring the curtains for the Leader's chambers. Wake up and smell the roses people!!
It cannot be questioned that it was the eight years of Bush policies that put us in the Depression that we are currently in. It further cannot be questioned that the Republicans have done NOTHING to help get us out of it for the last eighteen months. They have voted NO on everything as a bloc. They have spread lies and innuendo at every opportunity in an effort to undermine the President's power where ever they could. They have even insinuated that he is not an American. Anything at all to regain power. Are these the people you wish to reward with a return to power?
And finally, what is it that they offer as a means of fixing the economy if they get back into power? They haven't offered any hard and fast policy yet. They'd rather let the anger of the people come down on the President and the Democrats as if they somehow had nothing to do with the crisis. But when they are pushed, they go right back to the only things that Republicans EVER offer as solutions. They want to continue the (unpaid for) Bush Tax Cuts for the RICH. They want to continue giving the top 2% of this country tax breaks on the backs of the other 98% of us!! This will add almost a trillion dollars to the deficit, even though they have been screaming about the deficit every time a Democrat tries to pass some stimulus package!
They also want to further de-regulate businesses. As if the recent oil spill and egg crisis haven't shown us what happens when corporations are left to their own devices! And as if those things weren't bad enough, they want to privatize Social Security!! They want to gamble the hard-earned money that you and I worked all our lives for in the Stock Market! When this pseudo-Depression first started two years ago (as a result of de-regulated trading on Wall Street) the market fell almost four thousand points in just a few days. People saw their 401K programs lose more than half of their values. If the Republicans gain control of the House and/or the Senate, this will be one of the first things on their agenda!
So please wake up America! Do your homework and find out just what it is that the Republicans have in store for you if they are allowed back in power. If you listen carefully, and you demand answers to your questions, I am sure that you will reach the right decision in November and we will all be the better for it! Say NO to the NO party in November!!!!
Sorry....I understand your faith in the president, But BOTH the Republicans and Democrats make deals with lobbyist to push through laws, deregulations and bills to profit Corporate America. Many blue chip companies and Fortune 500 companys pay (whether the are bribes or contributions) to both parties. Deal with the fact that politicians are no longer looking to make America a great country! The are looking to line their own pockets. Just like Doctors and Pharmaceutical companys don't really work to help others, but rather MANY go into the healthcare business to out earn everyone else. Capitalism is great, except for the 95% who pays for it. So don't put the blame on the Dems or the Reps. The whole corrupt system needs to be regulated. I think a great start would be no more lobbying and no more campaign "donations".....both are just a politicians promise to develiver the goods to the rich at the rest of our expense!
i am terrified for the fate of the nation. mind you i am not terrified because of anything that comes from washington. i am terrified because the vast majority of people are grossly uneducated about the issues they are responsible for creating and resolving. republicans are still butt hurt over losing the white house and the house/senate majorities. this is completely evident via the birthers, tea party and everything broadcasted by fix news. it has been said multiple times already, but i suppose it needs to be said again: fillibuster. even if every democrat votes in favor of a bill, republican senators can annonymously block its passage with a fillibuster. they block passage and then bay and whine that obama isn't doing enough. tell me, what did bush era economics ever do for the middle class? wars on multiple fronts? tax cuts for the wealthy? geitner? really, enlighten me because i'm drawing a blank. people forget why we're on the slopes to begin with. stop with your rhetoric already. at least he is attempting to remedy a problem that he didn't create.
that being said, greed is the source of all of our problems right now. the top ranks are concerned with their well being over the well being of those below them. "profits are down? well obviously the first step is to lay off our employees." apple is one of the highest selling products in the nation. guess where the bulk of their manufactoring is done. china. the list goes on and on.
people neglect to realise the jobs have increased in the private sector. unemployment is still up because of the loss of government jobs. ontop of losing the temporary census jobs, states are battling deficits of their own. unlike the private sector, they can't offer a better product or increase their prices so they have to let people go.
i'm not saying this bill is immaculate. allowing businesses to borrow more is only going to help in the short term, and will probably hurt things in the long run. there are so many things to say and i have neither the time nor the space to do so
One large greatly abused system that hinder's small business is the workmans compensation laws which allow for
illegal aliens or anyone even without a social security card to file a claim for their stated work related injuries and receive 3/4 of regular salary and medical bills paid. The interests that politically keep this corrupt system includes the lawyer's,medicial facilities, and doctors whom are deeply invested in and located in many immigrant communities where a vast majority serve the hispanic communities. The present sytem allows any physician or even chiropractors to act as primary physicians bill insurances companies, refer cases for expensive non-conclusive testing procedure's,further "service to the community" includes the patient being referred to many doctors for many different mode's of treatment all paid for everyone's increasing healthcare insurance premiums.
Paul: The GOP doesn't have enough votes to fillabuster–The demos have a 60 vote majority in the Senate which precludes a fillabuster and they also have the two twinkies from Maine who normally vote demo.
Spot on Frank! Collins and Snowe job are RINO and both an embarrassment to the good people of Maine.
After reading several of the pro Obama comments I'm still amazed at how many people think he is doing a good job and tells the truth. Unbelievable. He keeps saying he has given a tax cut to 95% of Americans...bull. Mine have gone in only one direction and that is up! For those that think Corporate America is hoarding money-think again. Why do you think unemployment is at the rate it is. Corporations will not spend money if they see expenses rising. If they don't save money then they won't be in business. Business is not around for the sake of hiring people. Jobs are not right-a person is hired to perform a task and a salary is the compensation for that task. I'm a small business owner and I would like to hire another person, but can't. With the expectation of the "Bush tax cuts" expiring I will owe more in corporate and personal taxes. What most non business owners don't understand is how small business is taxed. I pay corporate taxes as well as personal taxes, when all is said and done I pay almost 65% towards taxes. Obama's policies are not business friendly. Think about it folks- if business didn't have to pay such high corporate taxes then they could hire more people. The United States has the 2nd highest corporate tax rate in the world-this is why companies are moving overseas-less tax. If people weren't taxed personally at the rates they are and could keep more of the money they earn then they wouldn't need government assistance. I think I can spend my money and support the charities that I want to support better than the government. At what point do the Obama supporters and the progressives say "oh that tax rate is too high", 40%, 45%, 50%, 60%, 70%? The producers are tired of getting pushed around by the recipients-producers are the silent majority and we have had it!
Floyd.....I was told by an associate in a budgeting deptartment of a large company, that the only way for companys to make money in this economy is to lay off people.....Fourth quarter is coming. There will be more lay offs so corporations show a better bottom line.
Flloyd: You talk about Corporate tax rates being high. Yes they're high, but so is executive pay. If Corporate America were to be fair to it's workers, Corporate executives would provide higher salaries to their workers and take less themselves. Take a look at executive salaries around the world and you'll see American's are the greediest and cruelest. They lay off workers to get higher executive pay. If they did this during the 1950's there would be no middle class in America. You'd have rich and poor, close to where we are now. It's greed that is ruining America, not Prez Obama. You can make Prez Obama the scapegoat for your hidden greed and selfishness, but history will reveal the truth. It is those of us who don't really care about our neighbors who are ruining this country.
You are right Floyd, what incentive does a coprporation have in hiring American workers when they are being taxed to extinction? Sadly Its become more cost efficient to ship business overseas. And what solutions do our politcians offer? Blame executives for working hard and creating industry? It'd be laughable if it wasn't strangling our economy.
Small businesses need help, they are the dependable employers. They need to be saved from bankruptcies. Opposing the bill is committing the unemployed to further miseries.
Small businesses need to sell viable products and keep track of their costs. Welfare for amateurs to fail more is counter productive.
Floyd, Are corporate taxes tiered?