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President Obama and the Struggling Economy

President Obama President Obama and the Struggling Economy

President Obama and the Struggling Economy

President Obama reiterated his call for Republicans to stop blocking legislation that could help stimulate job growth at a press conference on Friday.

In his quest to convince the American public that he is quite capable of reigning in the flailing economy, the president lashed out in no uncertain terms at members of the Republican Party.

The President stated “Holding this bill hostage is directly detrimental to our economic growth, so I ask Senate Republicans to drop the blockade.”

Obama was referring to the long-stalled piece of legislation being blocked in Congress by the Republican’s that will provide some aid to small businesses which are struggling during the economic recession. He argues that these tax breaks and lending initiatives aimed towards the US business sector will help create jobs through giving business owners more incentives to hire staff.

Some economists argue that this is precisely the type of positive stimulus the country needs to help get the economy back on track.

The president went on to say “Now, no single step is the silver bullet that will reverse the damage done by the bubble-and-bust cycles that caused our economy into this slide. It s going to take a full-scale effort, a full-scale attack that not only helps in the short term, but builds a firmer foundation that makes our nation stronger for the long haul. But this step will benefit small business owners and our economy right away. That’s why it’s got to get done.”

The government has already injected trillions into the weakened economy and many in the Whitehouse seem reluctant to make another major financial decision on future government expenditure, especially with the midterm elections so close.

 President Obama and the Struggling Economy

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Posted by on Aug 30 2010. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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