Obama Focuses On Economy, Has New Plans
San Francisco (Obama.net)- With the conclusion of combat in Iraq and the peace talks between Palestine and Israel held in Washington D.C., in the past few days, much of the Obama Administration’s attention has been directed towards foreign affairs. However, with those situations settling down, the major issue at home is now taking center stage. The American economy is definitely stronger than it was two years ago, but it is still in an upward climb that President Barack Obama is trying to speed up.
On Obama’s slate are a speech Friday on the unemployment rates for the month of August and two speeches next week to promote the Democratic view for the economy in the weeks leading up to the Midterm Elections on November 2nd.
Obama is also working on new plans. According to members of his administration, he is looking into both infrastructure and tax cuts in order to improve the economy. The tax cuts include tax credits for research and development being extended permanently.
Obama is quoted as saying, “My economic team is hard at work in identifying additional measures that could make a difference in both promoting growth and hiring in the short term, and increasing our economy’s competitiveness in the long term.”
Obama went on to say that the measures include tax cuts for the middle class that were implemented under former President George W. Bush, tax cuts for businesses, doubling the money spent on clean energy, and reconstructing more American infrastructure.
Reports circulated that Obama was also considering a second stimulus package like the $787 one from 2009. However, Timothy Geithner, the Treasury Secretary, made it clear that the rumor was completely false.
Obama is also focusing on existing bills in the United States Congress such as the small business measures that would provide billions of dollars to support community banks and small companies throughout the United States.
As the August recess is coming to an end for members of the United States Senate and House of Representatives, there will be a window of opportunity for the bill to pass before the members turn their focus to the Midterm Elections even more.
Obama made it clear that his goal is to improve the economy and repair “the damage that’s been done to the middle class over the past decade,” and get the job creation needed to get the people of the United States of America back to work once and for all.
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