While I give the president kudos for calling out the Republicans on passing the tax cuts for small businesses I think he is way behind the curve in being interventionist in the economy. The titans of capitalism have failed America and it is now time that we use Keynesian economic principles to stabilize this economy. While most have been indoctrinated into believing that big government is bad the reality is big corporations is what is bad as their is no accountability to the masses.
Our indoctrination is simply exacerbated by those who want to promote small government being so bad at it. I’ve written a book that I sure hope many read to put some perspective on the level of indoctrination and the results thereof. Please check it out here.
WASHINGTON (AP) — President Barack Obama exhorted Congress on Monday to make passing a long-languishing small business aid package its first order of business when it returns next month from its summer break. "I ask Senate Republicans to drop the blockade," Obama said in the Rose Garden after meeting with his economic advisers.
Acknowledging that the economy still remains extremely fragile, the president said he’d also have other specific ideas in the days ahead.
He mentioned extending Bush tax cuts due to expire this year for households making under $250,000 a year, upping the nation’s investment in clean energy, rebuilding more roads and highways and tax cuts designed to keep jobs in the U.S.
"My economic team is hard at work identifying additional measures that could make a difference in both promoting growth and hiring in the short term and increasing our economy’s competitiveness in the long term," he said.
In a week likely to be dominated by foreign policy, Obama is trying to show he’s still minding the economy after his 10-day vacation in Martha’s Vineyard.
A string of weak economic reports in recent weeks has fed fears that the economy would fall back into recession, only slightly offset by Monday’s government report that consumer spending had increased in July after four down months.
"Every single day, I’m pushing this economy forward, repairing the damage that’s been done to the middle class over the past decade and promoting the growth we need to get out people back to work," Obama said in his statement.
Obama said action on the package of small business tax cuts and credit incentives is "one thing we know that we should do" as soon as possible. Republicans have been blocking the bill, calling it misguided.
However, Obama said it was being "held up by a partisan minority that won’t even let it get to a vote."
Obama Calls Out Senate Republicans: Pass Small Business Bill