Obama Speech On Labor Day

President Obama said in his weekly addressthat needs a strong economy bustling main streets and a prosperous middle class, not just a healthy stock market. " The President "indicates what has been done to help the middle class, a group that says it has squeezed the most during the recession. He spoke of efforts to create jobs, make college more affordable, helping to build the middle-class retirement nest egg, reduce taxes on these families and prevent insurance companies from refusing to cover people with pre-existing medical conditions.
"The President said," This Labor Day, we renew our commitment to our time-honored values and that this fundamental truth: To cure our economy, we need more than a healthy stock market, we need bustling main streets and a growing middle class prosperity.'s why I'm going to keep working day days to restore the opportunity, economic security and the basic American dream for our families and future generations. "
Bloomberg News (04/09, Johnston) reports the President "outlining new ideas to boost growth and hiring" this week. The President "has also urged Congress to pass a package of measures to help small businesses, including tax breaks and subsidies to ease credit." The New York Times (9 / 5, Calmes, 1.01M) reports the President "will ask Congress to increase and permanently extend a popular tax credit, but costly for business expenses for research, and pay for it by closing of other corporate tax breaks, according to administration officials. " Also, "is due to expansion of the simpler of the two credit options available to businesses. He would increase to 17 percent from 14 percent." The Times notes that in his speech, Obama said more must be done to help the middle class and to accelerate job creation. "
The Washington Post (9 / 5, Kornblut, 605K) said as he heads "a week of major economic developments, the president is trying to walk a fine line between optimistic and realistic look familiar, achieving a tone for the future and as he describes reasons why the U.S. economy has sunk so long. "I have to say that this is a very difficult time for our country," Obama began his speech, then claimed credit for "stopped the bleeding in the labor market inherited upon taking office."
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