Economic plan to be unveiled by Obama in September speech

Posted by Sara | Blogging | Tuesday 23 August 2011 3:11 am
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Economic plan to be unveiled by Obama in September speech

President Barack Obama said he will be proposing a plan in September for giving a jump-start to the US economy.

With his approval ratings falling, Obama is set to propose short-term measures to boost hiring and call on a congressional panel for delivering more than the $1.5 trillion in savings by Nov. 23, partly through increased tax revenue.

From in.finance.yahoo.com:

In a television interview, Obama said another recession was unlikely but expressed concern about the slow pace of growth.

“I don’t think we’re in danger of another recession, but we are in danger of not having a recovery that is fast enough to deal with a genuine unemployment crisis for a whole lot of folks out there,” he said in excerpts in a CBS interview airing on Sunday. “And that’s why we need to be doing more.”

A Gallup poll published on Wednesday found a new low of 26 percent of Americans approve of Obama’s handling of the economy, down 11 percentage points since mid-May.

Administration officials said September’s economic plan was still a work in progress but new measures could include tax breaks and spending through construction projects.

Obama said at a town-hall style meeting in Illinois, “When Congress gets back in September, my basic argument to them is this: we should not have to choose between getting our fiscal house in order and jobs and growth. We can’t afford to do just one or the other, we’ve got to do both.”

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