Unemployment Bill Cuts Taxes For Struggling Businesses

Now, I would also like to announce that I just signed into law a bill that will help grow our economy, save and create new jobs and provide relief to struggling families and businesses. The need for such a measure was made clear by the jobs report that we received this morning. Although we lost fewer jobs than we did last month, our unemployment rate climbed to over 10 percent -- a sobering number that underscores the economic challenges that lie ahead. When we first came into office our immediate goal was to stop the freefall that caused our economy to shrink at an alarming rate. We have succeeded in achieving that goal, as our economy grew last quarter for the first time in a year. But history tells us that job growth always lags behind economic growth, which is why we have to continue to pursue measures that will create new jobs. And I can promise you that I won't let up until the Americans who want to find work can find work and until all Americans can earn enough to raise their families and keep their businesses open. The bill I signed today will help folks do that while continuing to grow our economy. It's a bill that extends unemployment benefits for up to 20 additional weeks, with the longest extension for the hardest-hit states. Already these benefits have helped 16 million unemployed Americans, and now that I've signed this bill, an additional 700,000 Americans who are still searching for work will be able to sign up for an extension of those benefits immediately. Although the extension will help over 1 million Americans, it won't just put money into the people's pockets who are receiving the benefits. Economists tell us that when these benefits are spent on food or clothing or rent, it actually strengthens our economy and creates new jobs. Now, this bill will also cut taxes for struggling businesses, with even larger cuts for small businesses, which means that thousands of entrepreneurs will get the cash they need to avoid laying off workers or closing their ...

Category:

News & Politics

Tags:

• Obama
• economy
• recovery
• unemployment
• recession
• depression
• taxes
• benefits

[rw5791]

obama is a fucking idiot.10.2% is the sugar coated figure,reality is more like 18%.

[Nicodemus98]

Obama ad his croonies will walk this country into the hands of our enemies. To all you who thought he was going to save the world, Hows those mortgage payments going? Got any paid for you? How about the gas tank? Got a free fill up lately? How about them millions of jobs saved or created in the first hundred days? Got one of them? NO!,, is th ecorrect answer. And NO, is how it will stay as unemployment now stands at 10.2% the highest in 70 years. Way to go "O".,

[Agent1W]

The businessman is a non-believer of our Most Merciful...THINK about it.

[TheAerialbomb]

FREEFALL is the key word here..... Bush drove us over a cliff and Obama pulled the ripcord. Doesn't mean it won't be a rough landing, folks. Tell me what McCain would have done.... since he said economy was is good shape a day or two before the giant crash while Obama was saying we're heading for a crash for weeks. You can't change history no matter how strong your racist hate is.

[TheAerialbomb]

So the 8 trillion that Bush added in 8 years didn't bother you? And all that while he steered the country into the worst economic depression since 1929. How would you avoid a full depression without the government spending money since the public has no more money to spend. How much were you willing to pay in extra taxes to fund the two wars Bush wanted to be in..... Never in history have we waged war and the people weren't asked to pay.... I guess you would have said NO WAR if you had to pay.

[allawayjared]

phlame

[Nicodemus98]

Oh and by the way, it ain't over and signed yet. I doubt this piece of excrement will make it through the Senate. As I watch the news, it is going to meet very stiff opposition and likely by doa in the senate.

[Nicodemus98]

1.7 Trillion in added spending, money we don't have, Who do suppose will provide it? Loans from China and Russia most likely. Mortgaging our homes to a foreign power, not so smart. This is on top of the current 1.2 trillion he has already added to the national debt. Putting his first hundred days into perspective, he spent $65 Billion a day. No twenty presidents combined spent that much that quickly. Take off the DNC blinders, nd by the way, I've been an independent since Kennedy was in office.

[Nicodemus98]

I have read most of the bill in question. Public Option, likened to European system, Result, 50+% income tax rates. no deductions, no exemptions. 500 million in first year Social Security cuts, with an equal amount from Medicare. I know, some of you kids don't think the retired have earned anything, wrong. Bankrupting the Insurance companies, making government the only option. If you like waiting, limitations, you'll love this. Take the DNC blinders off and read the bill for what it is.

[TheNewVideo]

That is because you are weak/

[allawayjared]

I don't exactly understand what you are trying to say.

[teton99]

Obama's Politics of Collective Redemption

By Kyle-Anne Shiver

And in this seemingly redemptive offering, Obama may be promising what only God can actually deliver, in the form of yet another, more eloquent, version of the same old utopian dream that started with Rousseau and Marx.