President Obama Crossroads on the Economy

President Obama Crossroads on the Economy The President lays out the choice between his plan to keep our economy moving forward, and the agenda put out by Republicans in Congress taking us backward to the special interest economy that created this mess.President Obama: GOP Leadership Standing up for Outsourcing and Special Interests, Instead of American Workers

WASHINGTON — In this week’s address, President Barack Obama broke with Republicans in Congress who are putting special interests ahead of the American people and offering only a rehash of the very same economic policies that led to the financial crisis. When the GOP asked the American people, through a website, for ideas, one that drew great deal of interest is ending tax breaks for companies that ship jobs overseas. But when the administration closed one of the most egregious loopholes for companies creating jobs overseas, Republicans were almost unanimously opposed. Rather than offering a path to a better future, their plan is an echo of a disastrous decade the country cannot afford to relive.

The full audio of the address is HERE. The video can be viewed online at www.whitehouse.gov.

Remarks of President Barack Obama
Weekly Address
The White House
September 25, 2010

This week, the economists who officially decide when recessions start and end declared the recession of 2008 to be over. But if you’re one of the millions of Americans who lost your home, your job, or your savings as a consequence of the recession, this news is of little comfort or value.

Yes, the economy is growing instead of shrinking, as it was in 2008 and the beginning of 2009. We’re gaining private sector jobs each month instead of losing 800,000, as we did the month I took office.

But we have to keep pushing to promote growth that will generate the jobs we need, and repair the terrible damage the recession has done. That’s why I’ve proposed a series of additional steps: accelerated tax breaks for businesses who buy equipment now; a permanent research and development tax break to promote innovation by American companies; and a new initiative to rebuild America’s roads, rails, and runways that will put folks to work and make our country more competitive.

Taken together with the small business tax cut and lending plan we passed through Congress last week, these steps will help spur jobs in the short run, and strengthen our economy for the long run.

Duration : 0:4:25


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Originally posted 2015-07-04 03:59:00.