Obama Promises New Economic Proposals Next Week

By: Stephanie Condon
Topics: Economy ,; Obama Administration

President Barack Obama reports on the economy as the latest unemployment figures are released, Friday, Sept. 3, 2010, in the Rose Garden at the White House in Washington.

(Credit: AP Photo/J. Scott Applewhite)

In the wake of a new jobs report showing increased unemployment, President Obama today said the steps his administration has taken to improve the economy are working, but not fast enough. He called on Congress to pass a small business bill and said he would announce next week a broader set of ideas to accelerate job creation.

"There are certain steps that we know will will advance our recovery," Mr. Obama said. "If we're wililng to put partisanship aside and be the leaders the American people need us to be... we'll rebuild America's eoncomy stronger than it's been before."

The Labor Department reported today that the unemployment rate rose from 9.5 percent in July to 9.6 percent in August. Companies added a net total of 67,000 new jobs last month, but unemployment nevertheless increased for the first time in four months because more people entered the market looking for work.

The new jobs added mark the eighth consecutive month of private sector job growth, Mr. Obama said.

"That's positive news, and it reflects the steps we've already taken to break the backs of this recession," he said.

He said, however, that more needs to be done to create jobs and invest in areas of the economy that have potential for growth. After Congress returns from its summer recess, its "first order of business" should be passing a long-languishing small business aid package that would accelerate $55 billion in tax cuts for businesses and eliminate cap gains taxes on businesses.

The president emphasized the bill is budget-neutral and hammered Republicans for opposing it. GOP opposition has created a "needless delay" that has caused businesses to put off spending and hiring, he said.

Mr. Obama maintained that there are "better days ahead," and he will give more details in the next week about the administration's plans to get there. He will deliver remarks about the economy in Wisconsin and Ohio next week, and on Friday, he will hold a press conference at the White House.

The Washington Post is reporting the White House is considering a package of business tax breaks to spur hiring and counter the Republican campaign message that Democratic tax policies hurt small businesses.

The White House, however, is insisting it has no plans for a "big new stimulus plan," perhaps simply indicating the White House wants to avoid associating its new plans with its first "stimulus" package.

Stephanie Condon
Stephanie Condon is a political reporter for CBSNews.com.
Follow on Twitter »

44 Comments Have Your Say
Email Story Send to a Friend
Share This Tell Your Friends
Tweet This Tweet This
More Share It

Add a Comment

See all 44 Comments


by thy-one-king September 9, 2010 12:15 PM EDT: by ronozz September 3, 2010 10:27 PM EDT
Obamas approval rating is back to 57%. Moderate independents are realizing the the tea baggers are mostly a bunch of crackpots.

ronozz, you need to check the ratings again .....................

Poll for Saturday shows that 24% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-five percent (45%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -21
Overall, 42% of voters say they at least somewhat approve of the president's performance. This matches the lowest approval rating yet measured for President Obama. Fifty-six percent (56%) now disapprove.; Reply to this comment


by thy-one-king September 9, 2010 12:15 PM EDT: by ronozz September 3, 2010 10:27 PM EDT
Obamas approval rating is back to 57%. Moderate independents are realizing the the tea baggers are mostly a bunch of crackpots.

ronozz, you need to check the ratings again .....................

Poll for Saturday shows that 24% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-five percent (45%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -21
Overall, 42% of voters say they at least somewhat approve of the president's performance. This matches the lowest approval rating yet measured for President Obama. Fifty-six percent (56%) now disapprove.; Reply to this comment


by ronozz September 9, 2010 12:15 PM EDT: jwilwade September 3, 2010 12:49 PM EDT

Are you calling George W bush a wimp. The president has the veto which in 2007 when the Democrats gin controlled of congress would not have been able to override. To set the record straight:

On December 16, 2003, President George W. Bush signed the American Dream Down payment Act, a new program that provided grants to help home buyers with down payments and closing costs. The act authorized $200 million dollars per year for the program for fiscal years 2004-2007.President Bush also tripled the funding
for organizations like Habitat for Humanity that help families help themselves become homeowners through 'sweat equity' and volunteerism in their communities substantially increasing, by at least $440 billion, the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage market specifically targeted toward the minority market.; Reply to this comment


by gregorymark September 9, 2010 12:15 PM EDT: Let me guess: Another federal jobs bill.; Reply to this comment


by ronozz September 9, 2010 12:15 PM EDT: Are you calling George W bush a wimp. The president has the veto which in 2007 when the Democrats gained controlled of congress would not have been able to override. To get the record straight:

On December 16, 2003, President George W. Bush signed the American Dream Downpayment Act, a new program that provided grants to help home buyers with down payments and closing costs. The act authorized $200 million
dollars per year for the program for fiscal years 2004-2007.President Bush also tripled the funding for organizations like Habitat for Humanity that help families help themselves become homeowners through 'sweat equity' and volunteerism in their communities. Substantially increasing,by at least $440 billion, the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage
market specifically targeted toward the minority market.; Reply to this comment


by cleantheDCcesspool September 6, 2010 10:41 PM EDT: obamao, you have had over 18 months to propose a successful economic plan. In that time you have spent well over a trillion dollars and unemployment has gone up over 25%.
Go back to Chicago, or Martha's Vineyard, or Kenya, or somewhere where you can do no further harm.; Reply to this comment


by mb91764 September 5, 2010 1:51 PM EDT: Quit trying to believe that Obama or anybody in Washington is telling the truth.Both dem and gop are looking out for only there jobs,it is a election year folks.This mess has been going on for a very long time,and we will just have to let our children and grandchildren pay for it.Obama is a lying,two face chump,but he's has a lot of company too.We can blame our selfs ,we all wanted big houses we could't afford,and other items so we could keep up with the"Jones". I never bought into that crap,live within what i knew i could afford,and what may happen tomorrow.I own my house,its not a mansion,but its my.Borrow against it,you have to be dumb.Keep most of my money were i can get to it,trust somebody else to invest it,dumb.Pay 40,000 for a gas hog SUV,that loses 10,000 in value as soon as you drive it off the lot,dumb.Believe one man or a group of smart ass can turn things around,you believe in Stanta Claus too.Believe in yourself ,look at both sides of a issue,trust noone that wears a $1000 suit and works for the goverment.Obama has nothing he can do to fix this mess or he would had done it.Really he should had started with helping the middle class first not the big banks.Let them fail,life would go on,the it really help anybody?Oh yea they got keep there bonus atfer destorying your money you invested.Oh ,what the hick we are all screw no matter what they do in Washington; Reply to this comment


by ddal10 September 5, 2010 1:17 PM EDT: The Republicans will constantly try to obfuscate the Facts with their Parrots, Like Sarah Palin, Glen Beck, Fox News and the rest of their Clan. Under Republican Leadership the following is true no matter how you slice and dice it:

Fact 1. America had the Number one Standard of living in the World.
We don't even make the Top Ten List anymore!

Fact 2. We fell to Number 37Th in the world in infant mortality.

To the Republicans, I say this,

It's about The Standard of living Stupid!

Bring Back The Sherman Antitrust Law and Make Globalization work for All Americans and not Just The Wealthy Handful!; Reply to this comment


by thy-one-king September 4, 2010 7:12 PM EDT: by ronozz September 3, 2010 10:27 PM EDT
Obamas approval rating is back to 57%. Moderate independents are realizing the the tea baggers are mostly a bunch of crackpots.

ronozz, you need to check the ratings again .....................

Poll for Saturday shows that 24% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-five percent (45%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -21
Overall, 42% of voters say they at least somewhat approve of the president's performance. This matches the lowest approval rating yet measured for President Obama. Fifty-six percent (56%) now disapprove.; Reply to this comment


by s0055d September 4, 2010 5:36 PM EDT: Since he took office, my income has fallen and my benefits have been decimated. I wish he'd just do nothing. Every time he does something, this working guy loses.; Reply to this comment