What Will it Take to Improve the Economy Faster?
President Obama on August Employment
Today in the Rose Garden of the White House, President Obama and his economic team stood by the President as he gave a message urging the Congress to:
Make passing a small business jobs bill its first order of business when it gets back into session later this month.
Benefits of the Small Business Jobs Bill to Be Passed by the Senate
President Obama stated that:
- 70,000 new Small Business Administration loans were approved since he took office in 2009, the small business jobs bill will more than double the amount small business owners can borrow to grow their companies.
- Capital gains taxes on key investments would be completely eliminated so small business owners can buy new equipment and expand.
- $55 billion in tax cuts for large and small businesses will be accelerating for job-creating investments in the next 14 months.
- The Small Business Jobs bill is completely paid for. “It will not add one dime to our deficit.”
President Obama said:
So, put simply, this piece of legislation is good for workers; It’s good for small business people; It’s good for our economy.
OK, the 2010 midterms are only several weeks away. Republicans complain about the economy and then appear to do everything they can to make sure nothing improves. They say President Obama doesn’t help small businesses yet when there is a bill before Congress to help small businesses what do they do? Try to stop it!
President Obama chided Republicans by saying:
And yet, Republicans in the Senate have blocked this bill – a needless delay that has led small business owners across this country to put off hiring, put off expanding, and put off plans that will make our economy stronger.
President Obama urged Congress to set aside partisan politics and be the leaders Americans truly want:
And, I’m confident that if we’re willing to put partisanship aside and be the leaders the American people need us to be, if we’re willing to do what’s best not for the next election, but for the next generation, then we are not only going to see America’s hardworking families and America’s small businesses bounce back, but we’ll rebuild America’s economy stronger than it’s been before.
History of Our Economic Woes Before 2009
Remember that under George W. Bush the economy went way way south and millions of jobs were lost. Then, Americans overwhelmingly elected President Obama in November 2008 as more of the full extent of U.S. economic problems came to light.
The economy tanking took time to be fully revealed and it will naturally take time to recover. Yet, many Republicans expect President Obama to act like a super hero and perform miracles while they conveniently ignore how we got into this mess in the first place.
Saying that the economy is not growing fast enough, or that jobs are not being created fast enough while sitting on their hands to help, is not only cowardly, it is negligent.
Remember that while Rome burned, Nero fiddled. Well, it seems that Boehner, McConnell and his colleagues are fiddling with voters by creating clouds of misunderstandings through their rhetoric that is big on blame and little on solutions.
Are McConnell and Boehner capable of setting aside petty politics for the sake of people who need loans and tax breaks for their small businesses? One can dream that it is possible.
As President Obama said, there are no silver bullets to bring the economy back. It requires multiple approaches. He is set to announce a more comprehensive plan next week for helping the economy.
Since January 2009 the Obama administration has already brought back nearly 700,000 jobs.
In all of the 8 years that George W. Bush was in office, he only created an increase of 1.1 million new jobs. President Clinton created over 23 million jobs during his 8 years.
Already in the second year of President Obama’s administration, in the midst of an ever increasing economic recovery, almost 1 million new jobs have already been created. Yet Republicans want Americans to return to policies they supported and still support that got us into the worst recession in 70 years. Do they think everyone in America has Alzheimers?
It seems that is a pretty good track record that sure beats what G. W. Bush achieved in terms of job growth.