September 2nd, 2010
08:14 PM ET
11 years ago

President mulls new measures to spark economy

[cnn-photo-caption image= caption =" President Obama will shift his focus back to the economy on Friday."]Washington (CNN) - After a week mostly focused on Iraq and Mideast diplomacy, it's back to the economy for President Barack Obama, who will deliver remarks Friday on the August unemployment numbers.

Then, Obama is scheduled to give two big speeches next week to try and frame his administration's response to the recession, less than two months ahead of a midterm election where Democratic majorities in the House and Senate are on the ropes.

Senior aides confirm the president recently asked his economic team to come up with various proposals he could roll out to show that amid high anxiety across the nation, he's still working hard to jump-start the economy, including more federal spending on infrastructure projects and tax cuts popular with the business community such as a permanent extension of the research and development tax credit.

Obama himself hinted at the options on the table on Monday in the Rose Garden, when he accused Republicans of blocking a separate $55 billion legislation package that would cut small business taxes. Senate Democrats hope to pass the package later this month and get it to the president's desk before the election.

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Filed under: Economy • issues • President Obama
soundoff (46 Responses)
  1. one voice

    If the Democrats had 60+ votes in the Senate,this recession would've been a thing of the past. THANKS REPUBLICANS

    September 2, 2010 10:28 pm at 10:28 pm |
  2. zz

    Excuse more deficits please! No more stimulus!

    September 2, 2010 10:43 pm at 10:43 pm |
  3. John Tighe

    For all of his potential, this president will go down in history as being as weak as Carter was. Obama is very disappointing.

    September 2, 2010 10:51 pm at 10:51 pm |
  4. DagnyTag

    For 2yrs now we've heard how BO's "focus" was going to be "like a laser" on jobs and the economy. In reality it's been nothing but hocus-pocus "focus" along with unprecedented govn't/union expansion and an aggressive war on prosperity and the private sector. Yup, "like a laser" indeed; what a pathetic man-child clown this progressive left, academic ideologue,, I organizing, lawyer/lobby loving, radical neo-marxist is. Unions are spending $150M on the mid-terms.....gotta love how are tax dollars are at work for this massive federal power grabbing/takeover, no?! The entire Iraq war cost LESS than the 'StealfromUS Bill' and he had the unitigated gall to bring up COST!!! Didn't even tell those who sacrificed the most of all that it was a success, and he couldn't even muster the class to give proper credit where it was due. Self righteous arrogance and hypocrisy is at the core of BO's radical left "ideology". It's been absolutely abhorrent to watch. Pathetic and nauseating.

    September 2, 2010 10:52 pm at 10:52 pm |
  5. Rob Johnson

    Now that our troops are leaving Iraq, Obama should be able to devote more of his time to the economy.

    Our President inherited several major, long-term structural problems, and while I don't agree with everything he's done, I dare anyone to say they could have done better.

    September 2, 2010 10:56 pm at 10:56 pm |
  6. Henry Miller, Libertarian, Cary, NC

    "...he's still working hard to jump-start the economy, including more federal spending..."

    This dweeb just doesn't get it! Insane levels of federal spending–and fear of the insane increases in taxes that promises–are one of the principal factors in keeping the economy down!

    September 2, 2010 10:58 pm at 10:58 pm |
  7. GOP Scorched Earth Politics

    High-speed rail that is on par with Europe and Japan is a good call along with other national projects. Public Works projects to develop Green Energy for federal property is another good investment.

    September 2, 2010 11:00 pm at 11:00 pm |
  8. Muffet

    I truly believe that wall street and their puppet politicians are choking the enonomy to destroy voter momentum. End of story. This is tbeir pay back at the expense (in more ways than one) of thosehard working individuals and families standing to lose everything.

    September 2, 2010 11:05 pm at 11:05 pm |
  9. katie

    No one is listening anymore. Everyone is just waiting for the November election results so we can start getting this Country back on it's feet. He has become an ineffective President.... just like Jimmy Carter. Impotent.

    September 2, 2010 11:21 pm at 11:21 pm |
  10. Annie, Atlanta

    Why do Republicans block legislation that would help us Main Streeters out here, all the while making sure banksters on Wall Street along with the rest of corporate America get carte blanche? Why do we keep voting them into positions where they can put the screws to us over and over again? Are we that stupid? Don't answer that.

    And while on the subject of the GOP, I guess I missed the memo. When did stupidity and a total lack of common decency become a badge of honor? And where do politicians get off on thinking they don't have to answer to the people or the media anymore? What in God's Green Earth is happening to us?

    September 2, 2010 11:36 pm at 11:36 pm |
  11. Chad from Tampa

    You're about a year and a half too late Obama. No need to "shift" your focus to the economy, you've already ruined it with your massive health care, bailouts and spending.

    September 2, 2010 11:51 pm at 11:51 pm |
  12. Gobama!

    Republicans can say what they want, but when they block legislation like this small business bill, the American people know which party is on who's side!

    When Obama and the Dems passed Wall street reform, ensuring that no more taxpayer money could be used for bailouts, and then Rep. Boehner tells wall street that he will repeal it....The American people know which party is on who's side!

    When Obama and the Dems hold BP responsible for the gulf spill, and the republicans apologize to BP....the American people know who is on who's side.

    September 3, 2010 12:03 am at 12:03 am |
  13. GI Joe

    This close to the election, it's kinda dangerous for the usual NO from the other party.

    ha ha ha ha ha ha ha ha ha

    September 3, 2010 12:07 am at 12:07 am |
  14. J.V.Hodgson

    I would like to hear a sound logical reason from Republicans why they voted NO on this bill for small business loan assistance and tax relief when they claim always Small business is the economic engine of America and employment driver.
    The only sound logical reason I see is to slow the economic recovery and benefits to small business down until after the election... = politics and never mind the very people. who mostly vote Republican.
    Finally, this was a huge recession in America, and face the fact it was global as well. Apart from China there is not a single global economy that is any where near long term needed growth levels and real recovery.
    I do know this, cancel the recovery act, cancel TARP repeal health care and keep tax breaks for the rich puts us back where this recession began, and would lead to more troops being sent back to Iraq and Also to Afghanistan.
    If Republicans take sway with the rightist tea party candidates then look out main street America, and especially out of work Joe six packs.

    September 3, 2010 12:09 am at 12:09 am |
  15. Ricky atl

    anything he suggest will be framed as something that will hurt america the GOP will not work with our president in any way! they will frame the message again and get the base all jazzed up to spead lies as they are master of!

    September 3, 2010 12:22 am at 12:22 am |
  16. Tinkers Dam

    According to the idiot VP, the first stimulus worked great. So why should we need another one. This administration is the pits. the economy was fine in 06. The dems take over on 07 and all hell breaks loose. Do America a favor, vote anything but Dem in November. If you see anyone who voted for Obama, slap them. If you voted for Obama, slap yourself.

    September 3, 2010 12:27 am at 12:27 am |
  17. November

    Here's a novel idea: stop spending money and lower taxes. Just give it a try!

    September 3, 2010 12:42 am at 12:42 am |
  18. ThinkAgain

    Part of the President's and the Democrats' strategy should be to remind people that American companies are sitting on about $3 trillion in cash reserves, "afraid" to hire anybody because of "economic uncertainty."

    If those companies were run by people who actually had a pair, they'd be hiring people to create and sell innovative products, making a better economic climate, instead of just sitting around waiting for things to happen.

    Whatever happened to American ingenuity? Whatever happened to accepting that being in business involves risk? Whatever happened to putting the well-being of your country ahead of your own selfish gain (I'm talking to you, all you over-paid CEO ninnies)?

    C'mon, American companies, get off your duffs and help out!

    September 3, 2010 01:04 am at 1:04 am |
  19. ThinkAgain

    I can hardly wait (NOT) to read all the posts about how President Obama is killing business with regulation and taxation.

    Under GW Bush, we had huge tax cuts for the wealthy and de-regulation and all it got us was global economic meltdown (because the people and companies the tax cuts and de-regulation affected the most are a bunch of greedy SOBs).

    Contrast that to the nearly 40-year economic expansion enjoyed by our nation after the implementation of the New Deal. Somehow that generation managed to prosper ...

    September 3, 2010 01:07 am at 1:07 am |
  20. barry

    I hope he doesn't do anything for now. I think we have had all of his ideas on the economy we can stand. Our great grandchildren will be paying for what he's done so far. I hope he does minimal things for now until the new Congress is in tact. His policies don't work. We are now more like Greece than Greece. He has proven he is in over his head and has a inept staff around. Nice guy unfortunately finds himself in a position he wasn't ready for.

    September 3, 2010 03:19 am at 3:19 am |
  21. jules sand-perkins

    Listen, President Obama: it is not the Republicans!
    It is you.
    Stop blaming the last president.
    Why do your advisers have to have "new ideas" for the economy?
    The answer is that "spreading the wealth around" NEVER works.
    I will admit that ROBIN HOOD is a charming, calming bedtime story for children–the more stupid the children, the more calming the story to them.
    If there is a neighborhood in New York City where one person has done enough work to buy a Rolls-Royce limousine, and that car is "liberated" by the People United and then chopped up into little pieces, everybody will have a tiny piece of scrap metal.
    Your failure to understand that truth–the reason that socialism and communism do not ever work–presents a reality that your advisers cannot alter with all the "NEW IDEAS" in the world.
    All the king's horses, and all the king's men, couldn't put Humpty together again.

    September 3, 2010 04:20 am at 4:20 am |
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