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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Obama has done more to harm business than any other president. He demonizes it on behalf of his unions and lawyers
at every opportunity. Other countries value their business: not our democrat machine.
I own a small business I do not want Obama's costly expensive help. This president does not get it. Europe has figured it out that you do not spend your way out of debt all that does is keep increasing your bills (taxes). If the president has any brains and really wants to help he has to reduce spending and cut taxes. I'm worried about having to lay people off because may sales are down but my bills keep increasing. Our workmans comp has increased, our city taxes have increased and now with the presidents Cap & Trade our utility bills may take a big increase. I'm like most businesses I expect to see taxes take a big jump after the November elections. I'M GOING TO DO THE SMART THING UNLIKE OUR GOVERNMENT. I'M GOING TO CUT MY COSTS BY LAYING PEOPLE OFF AND REDUCING MY SPENDING. I'M NOT GOING TO KEEP BORROWING MONEY UNTIL I LOSE MY BUSINESS ENTIRELY. WAKE UP OBAMA DO THE SMART THING.
..."directing investments to areas where job-creation potential is the highest" Really. Perhaps he's referring to the jobs he is creating in Sri Lanka and Armenia. You know, the investments USAID is making (in millions of dollars) in those two countries for English-speaking abilities, IT, and engineering. For Armenia, USAID is in bed with private industry to fund this absurdity. It's for the express intention of outsourcing jobs. Why else would private industry be investing in such a thing? Yet again, another big fat lie by our bought, er uh, psuedo-elected, officials.
I'm confused! First Obama wants to let the Bush Tax Cuts for earners above $250K (includes small businesses) expire. Now he says he wants to give Tax Cuts. As a small business owner, I dont trust him! I truly believe that, in the long term, Obama is going to cost small businesses like mine more in taxes, potentailly putting the businesses whose current net gain is less than the future tax increases out of business.
If he wants to help small business leave us alone. Any time you see the government coming and telling you they have something for free, do as Ronald Regan said, "run". If you need government help you are starting a failing business. A successful business has to provide a service that someone wants. NO amount of money will overcome that first problem.
All you morrons right nut gop, nay sayers, you have a short memory. When President Obama took office, the economy was totally down in toilet. Stock market collapsed, stocks worthed pennis, 750 000 jobs lost a month, catastrophic economic and financial recession. After Obama took office, just in 2 years, he stopped such economic and financial hemorragy with financial reform, health care reform, and many accomplishment. Give me a break. This president has done more than any president. Bush took 8 years to completely destroy the economy, so give the prez 8 years too to clean this mess that cannot be fixed within 2 years seeing the severity of the crisis. Only you morrons tea baggers, right nut gopers, party of nos cannot see it in this angle. Thumbs up Mr President. Keep up the good work. Forget these right wings racists tea baggers, nay sayers gopers.
actually it's been down the toilet under Obamas watch.He's made it worse and continues to do so.
Yes thank you Mr. President for teaching us Socialism 101 by your good example.
The jobs aren't coming back. It does not matter what the Republicans or Democrats do. There has been a war waged on labor costs for 30 years now. They have destroyed the unions and shipped the non-union jobs overseas. The corporations have won....but we are all broke....
When the democrats took congress in 2007, the unemployment was 4.5%, the Dow was at 13,000 and we had 3 trillion less debt. Oh for the good old days, eh?
Yea, I remember the good ole days. We had a surplus and jobs were falling off the trees. Oh wait, that was pre-Bush.
Ok, let's try that. AND, let's reduce the speed limit to 55MPH...turn out all of the lights...turn those thermostats to 85...blame everything on everybody else. Oh, that was Carter....that worked out pretty well, don't ya think? HURRY UP NOVEMBER...HURRY UP NOVEMBER.
As an independent voter, I am a small business owner. Loan acquisition has been difficult at best. I am also a Latino and I view the presidents efforts as a solid attempt to help me make significant gains in my business; however, the GOP is consistently blocking, sandbagging, sabotaging, and down right getting in the way of efforts to help me succeed. I am an independent but the GOP is ensuring my vote goes to the DNC.
Hope you enjoy your business after you are forced to move it to Mexico.
The GOP doesn't block just for the sake of blocking. They have the interests of American at heart. I am thankful for them not going along with Washington as usual and policies I don't agree with me. Keep in mind, everything they block and stand for is what the majority of Americans want and believe in.
I am reminded of Clinton’s “a house for everyone whether or not they can afford it” bill. The crash didn’t start with Bush. I would advise, just don’t take these loans. They don’t make sense other than to sink our economy further down. AGAIN, Democrats, that’s not the way the economy grows. This summer, I’ve begun to believe Obama isn’t this stupid, and isn’t a puppet. I believe he really is, actually, (I know it sounds crazy) trying to destroy the US. Why?? Haven’t figured that out yet. Is it something as simple as the world revolving around him? Thinking he's untouchable? Something about his ego or pride?
The only thing we can do now is keep writing our congressmen and congresswomen and vote Republican across the board. Yes, we’ve still only got two parties, but please know that an independent or third party vote will be a vote taken away from Obama’s opponent. Essentially an independent vote is a vote for more of this democrat legislature, more nails in the coffin. Will the Republican with the crow bar please stand up!
Geez, Marie, why do you go to the most outlandish conclusion possible ("he's trying to destroy the country") when you don't even have a theory as to why he would do that.
Let's see. My husband startes a small construction business when the economy tanked in order to keep us afloat. He was required to carry an exempt workers comp. policy to "protect" the people he subcontracted from. He was audited on a policy he pays 600$ a year for that he receives no benefit from having. If he is hurt on the job it does not cover him. He had a sub who told him he carried his own insurance work one job with him. He lied about having insurance. As a result of having this guy work on his job we received a $2500 fine from workers comp. Bureaucratic BS is what this is. running a small business in MN means giving the government money every time you turn around and being unable to pay your bills. I don't recommend it!
If a sub says he has insurance, just ask him to provide proof. Then photocopy that proof. It's really not that difficult.
Obama couldn't tell the truth to save his own life. If he were serious about American workers he would insist the terrorists who run corporations paid workers minimum wage regardless of where the worker resides. If the workers state will not allow that wage, then the balance should go to our treasury. Jobs would be back in the US by the end of a month. That's called 'leveling the playing field', which the Liberal Communists in Washington claim to believe in.
Under Obamas iternational development (State Dept) director Rajiv Shah, USAID will partner with private outsourcers in Sri Lanka to teach workers there advanced IT skills like Enterprise Java (Java EE) programming, as well as skills in business process outsourcing and call center support. USAID will also help the trainees brush up on their English language proficiency. To the toon of 36 million dollars we are training people for jobs in other countries while our unemployed are working hard to fend for themselves. This PRES CARES ABOUT FOREIGN coutnries more than his own.
Why do people like Eric Cantor insist on referring to the Democratic Party as the "Democrat" Party? Are they stupid or just childish?