Released just one day after a Labor Department report indicated a net loss of 125,000 jobs in June, Obama uses the address to announce $2 billion in conditional funding for two U.S. based solar companies.
According to the White House, the two companies – Abengoa Solar and Abound Solar Manufacturing – will use the funding to build new production facilities.
Abengoa Solar will build a plant in Arizona, while Abound Solar Manufacturing will build two new facilities, one in Colorado and one in Indiana.
But Obama acknowledges the economic difficulties of the moment.
"[T]he truth is, steps like these won't replace all the jobs we've lost overnight. I know folks are struggling. I know this Fourth of July weekend finds many Americans wishing things were a bit easier right now. I do too," Obama says.
Obama also takes aim at Senate Republicans, criticizing their attempts to delay the extension of unemployment benefits and tax credits to people and small businesses hurt by the recession.
"Still, at a time when millions of Americans feel a deep sense of urgency in their own lives, Republican leaders in Washington just don't get it," Obama says. "While a majority of Senators support taking these steps to help the American people, some are playing the same old Washington games and using their power to hold this relief hostage – a move that only ends up holding back our recovery. It doesn't make sense."
Last week, the Senate did approve a stand-alone homebuyers tax credit shortly after a failed attempt to advance a bill that combined the credit with an unemployment benefits extension.
Republican leaders objected to the measure because it would have added to the national debt. They offered alternative bills that would have paid for unemployment benefits with unused stimulus funds.
Senate Majority Leader Harry Reid, D-Nevada, said the chamber will take up the benefits bill again once a replacement for the late Senator Robert Byrd, D-West Virginia, is named. Byrd, the longest serving member of Congress in history, died Monday at age 92.
I am belived that obama barack are keep dangerous out of his musilims why why musilim was killed of 13 people at fort hood texas
Just the start, I hope, and only one way to produce clean energy. For Bill in Georgia, or any other state that may not get enough sun, there is wind, wave and other technologies available or that can be developed. How about a solar panel on your own roof? Most of those who nay-say are interested in centralizing solar and that may not work.
Nuclear? Please let us not go from one dirty source to another and make nice radioactive targets for those who hate us.
As far as one of the companies being from Spain, that is what happens when we stifle our own people who have great ideas by telling them it won't work and refusing funding. Someone can have a great idea and not have the funds to develop it.
As for the extension-
When the house is on fire, you use the water and worry about paying for it later. I bet if there was a study, all of these "fiscally conservative" people who are so worried about debt for the next generation are the same ones who say we should drill or frack for natural gas and leave them a devastated environment.
Thank you for making the effort with the solar company funding Mr. President. Now get YUCCA Mountain re-started (after Senator REID KILLED it) and get more more NUCLEAR projects on-line. Then please bring back the solar and wind-machine production from China so that we don't keep financing their economy. Win-Win.
All he does is talk . . . what is he actually DOING about it?
So we can expect you to support the New Black Panthers as well when they use voter intimidation tactics? Arizona is enforcing Federal Law! What laws do you wish to see "ignored"?
yea Jeb b
ITS JUST YOU
He's running the country better then Bush enough said
Leave it the GOBP nutbags to miss the point entirely. The GOBP has NO moral authority to discuss the deficit or government spending. Unlike tax cuts for the wealthy (which never result in enough new revenue to offset them, thus INCREASING the deficit), Keynesian economics (deficit spending during a recession or depression) is PROVEN to work. The GOBP nutbaggers are bunch of Friedman and Rand cultists who are dangerously divorced from reality.
Government MUST invest in new technologies (just as NASA and DARPA have done for years, much to the economic benefit of the US). Only a party stuck on lies and living in the past could deny this. Vote them all out!