Friday, January 8, 2010

Liveblog: President Obama speaks about the economy

By GottaLaff

http://beta.images.theglobeandmail.com/archive/00422/obama_security_s_422321gm-a.jpg

I hope he doesn't talk too fast this time. Here we go:

The jobs numbers: We have to get economy moving again, meaning Jobs. Job losses were 1/10 of what we experienced in first quarter. The overall trend is going in right direction, but must explore every avenue. Announcement:

Recovery Act has helped, stimulated growth/hiring. Clean Energy Manufacturing initiative has helped. Creates jobs, that pay well, can't be outsourced, and reduce dependence on foreign oil. And it's how to combat climate change.

Harnessing new forms of energy is defining challenge of this century. U.S. being outpaced by China. We spearheaded solar tech, but fallen behind Germany and Japan in producing it. We're beginning to do more here at home.

I welcome real competition around the world, but I don't want America to lose that competition. .. I don't want tech to be invented abroad. I want us to be a leader, THE leader in clean energy.

That's what this initiative will help us do... close the gap. Awarding 2.3 billion $ in tax credit to businesses who produce clean energy tech. Will create jobs, boost manufacturing, building new plants, upgrading old ones, doubling renewable power... built here. This is good for middle class families, security, planet.

Gives example of Iowa company benefitting from tax credit.

Initiative is so popular that we have more applicants than we can fund.

As part of jobs package that I'd like Congress to pass, I want to invest $5 billion more.

In letters I read at night, I hear from Americans facing hard times... lost jobs, etc... I'm confident that if we harness ingenuity, gain lead in clean energy, we can... [have a brighter future].


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