There’s no quick fix

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I know many people across this country are concerned about what the future holds for themselves, for their families, and for the economy as a whole.

As I’ve said from the start, there’s no quick fix to the worst recession we've experienced since the Great Depression.

The hard truth is that it took years to create our current economic problems, and it will take more time than any of us would like to repair the damage. Millions of our neighbors are living with that painfully every day.

But, I want all Americans to remind themselves there are better days ahead.

Even after this economic crisis, our markets remain the most dynamic in the world.

Our workers are still the most productive.

We remain the global leader in innovation, in discovery, in entrepreneurship.

Now, the month I took office, we were losing 750,000 jobs a month.

New figures show the economy produced 67,000 private sector jobs in August, the eighth consecutive month of private job growth.

Additionally, the numbers for July were revised upward to 107,000.

Now, that’s positive news, and it reflects the steps we’ve already taken to break the back of this recession.

But, it’s not nearly good enough.

That’s why we need to take further steps to create jobs and keep the economy growing, including extending tax cuts for the middle class and investing in the areas of our economy where the potential for job growth is greatest.

In the weeks ahead, I’ll be discussing some of these ideas in more detail.

But one thing we also have to do right now, one thing we have a responsibility to do right now, is to lift up our small businesses, which accounted for over 60 percent of job losses in the final months of last year.

That's why once again, I’m calling on Congress to make passing a small business jobs bill its first order of business when it gets back into session later this month.

Now, here’s why this is so important.

Up until this past May, we were not only waiving fees for entrepreneurs who took out Small Business Administration loans, we were also encouraging more community banks to make loans to responsible business owners.

These steps are part of the reason about 70,000 new Small Business Administration loans have been approved since I took office, and I thank Karen Mills for the outstanding job she’s been doing as Administrator of the Small Business Administration.

We’ve also been fighting to extend these loan enhancements with a small business jobs bill.

It’s a bill that will more than double the amount some small business owners can borrow to grow their companies.

t will completely eliminate capital gains taxes on key investments, so small business owners can buy new equipment and expand, and it will accelerate $55 billion in tax cuts for businesses, large and small, that make job-creating investments in the next 14 months.

And, keep in mind, it is paid for.

It will not add one dime to our deficit.

So, put simply, this piece of legislation is good for workers; it’s good for small business people; it’s good for our economy., 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.

I’ve repeated since I ran for office, there is no silver bullet that is going to solve all of our economic problems overnight.

But, there are certain steps that we know will make a meaningful difference for small businessmen and women, who are the primary drivers of job creation.

There are certain measures that we know will advance our recovery.

This small business jobs bill is one of them, 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 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.

Thank you very much.
 
Well, I will be addressing a broader package of ideas next week.

We are confident that we are moving in the right direction, but we want to keep this recovery moving stronger and accelerate the job growth that’s needed so desperately all across the country.
 
I’m going to have a press conference next week where, after you guys are able to hear where we’re at, we’ll be able to answer some specific questions.

But, the key point I'm making right now is that the economy is moving in a positive direction.

Jobs are being created.

They’re just not being created as fast as they need to, given the big hole that we experienced, and we’re going to have to continue to work with Republicans and Democrats to come up with ideas that can further accelerate that job growth.

I'm confident that we can do that, and the evidence that we’ve seen during the course of this summer and over the course of the last 18 months indicate that we’re moving in the right direction.

We just have to speed it up.

All right?
 
That philosophy didn't work out so well for middle-class families all across America, it didn't work out so well for our country.

All it did was rack up record deficits and result in the worst economic crisis since the Great Depression.
 
They just think it's better to score political points before an election than to solve problems.

Even on things we usually agree, they say no.

These are the folks whose policies helped devastate our middle class. They drove our economy into a ditch, and then they've got the nerve to ask for the keys back.

This Labor Day, we are reminded that we didn't become the most prosperous country in the world by rewarding greed and recklessness.

We did it by rewarding hard work and responsibility.

We did it by recognizing that we rise or we fall together as one nation, one people, all of us vested in one another.
 
President Barack Obama said:
They just think it's better to score political points before an election than to solve problems.

Even on things we usually agree, they say no.

These are the folks whose policies helped devastate our middle class. They drove our economy into a ditch, and then they've got the nerve to ask for the keys back.

This Labor Day, we are reminded that we didn't become the most prosperous country in the world by rewarding greed and recklessness.

We did it by rewarding hard work and responsibility.

We did it by recognizing that we rise or we fall together as one nation, one people, all of us vested in one another.
Click to expand...

You lie!!!
 
This will not only create jobs immediately, it's also going to make our economy hum in the long-run.

It's a plan that history tells us can and should attract bipartisan support.

It's a plan that says even in the still-smoldering aftermath of the worst recession in our lifetimes, America can act to shape our own destiny, to move this country forward, to leave our children something better, something that lasts.
 
We knew it would take time to reverse the damage of a decade's worth of policies that saw a few folks prosper, and it will take more time than any of us wants to dig out of the hole created by this economic crisis.

We used to have the best infrastructure in the world and we can have it again.

We want to change the way Washington spends your tax dollars.

We want to reform the way we fund and maintain our infrastructure to focus less on wasteful earmarks and outdated formulas, and we want competition and innovation that gives us the best bang for the buck.

Nearly one in five construction workers are unemployed.

One in five.

Nobody's been hit harder than construction workers.
 
President Barack Obama said:
We knew it would take time to reverse the damage of a decade's worth of policies that saw a few folks prosper, and it will take more time than any of us wants to dig out of the hole created by this economic crisis.

We used to have the best infrastructure in the world and we can have it again.

We want to change the way Washington spends your tax dollars.

We want to reform the way we fund and maintain our infrastructure to focus less on wasteful earmarks and outdated formulas, and we want competition and innovation that gives us the best bang for the buck.

Nearly one in five construction workers are unemployed.

One in five.

Nobody's been hit harder than construction workers.
Click to expand...

You lie!!!
 
Bottom line is, these guys refuse to give up on the economic philosophy they peddled for most of the last decade.

You know that philosophy.

You cut taxes for millionaires and billionaires.

You cut rules for special interests.

You cut working folks loose to fend for yourselves.
 
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