San Francisco (Obama.net)- The economy is once again taking center stage in the world of American politics and President Barack Obama gave it all of the attention in the world in his speech on Friday from Washington D.C.
Once again, Obama addressed the topic of the small business bill in the United States Senate that is being blocked by the Republicans in the Senate. The bill would provide community banks and small companies with financial aid, which would in turn boost job growth throughout the United States and lower the unemployment rate.
Obama urged the passage of the bill even more as unemployment is slowly creeping back up. The Labor Department announced that in August alone, unemployment went from 9.5 percent slightly higher to 9.6% percent.
In August, the private sector increased jobs by a total of 67,000, but the government census program cut another 114,000 jobs that were only temporary to begin with. Thus a total of 54,000 jobs were cut in August to increase the unemployment rate, but in the long-term view of things, unemployment actually dropped by half of a percent.
The private sector has created a grand total of 763,000 jobs so far in 2010, with all eight months seeing positive growth.
Obama touted the news of job growth and was pleased that slowly, but surely the economy is in fact bouncing back.
President Obama is positive that the small business bill would boost growth even more by creating countless local jobs in the United States.
Obama then slammed Republicans for blocking the passage of the bill, calling it a “needless delay” that is just holding back the American economy even more.
The tax breaks provided by the bill would enable companies to expand via improving their products and hiring more workers.
The bill has already been passed in the United States House of Representatives in June.
President Obama made it clear that his goal here is to speed up the growth that is already evident in the United States economy.
Obama said, “The key point I’m making right now is that the economy is moving in a positive direction…we just have to speed it up.”
With the Midterm Elections coming up on November 2nd, President Obama is doing all that he can to get the bill passed in the Senate before campaigning goes into full swing so he can focus on the elections and other economic policies pertaining to the elections.