Obama shows piqued interest in economy

Bombay News.Net
Monday 6th September, 2010

President Obama has announced he will unveil a new plan to create jobs.

Next week he will put forward his plan to modify the unemployment rate, which jumped to 9.6 percent last month.

Six million people have been out of work for half a year or longer in the US, creating concerns within the White House that midterm elections may sink some Democrat members.

Republican members have been trying to get the message across that the Obama administration promised a recovery-summer that never eventuated.

President Obama has been saying there’s no quick fix to the jobs problem, but that things are getting better.

His new proposals, to be announced on Wednesday in Cleveland, will undoubtedly focus partly on small business tax cuts, which he has been trying to promote.

Republicans in the Senate have so far blocked the bill and are also likely to block the extension of tax cuts which expire this year if the president insists on ending the cuts for incomes of more than $250,000.

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