Obama to Announce New Economic Measures

President Obama hailed the addition of 67,000 jobs by the private sector in August as a sign that the economy is moving in a positive direction, despite a net loss of 54,000 jobs due to mostly government layoffs. Obama will reveal new economic proposals next week, and has scheduled a press conference on Friday. Pressure to decrease unemployment continues to rise for Obama as the midterm elections loom. The Republicans stand to gain congressional seats by blaming Obama for the slow economic recovery, and are accusing him of defending "failed policies." It is ironic that Republicans blame Obama for failed policies when they are the ones who have obstructed many of Obama's proposals involving increased government spending to stimulate the economy. With this in mind, Obama is encouraging Congress to pass a small business jobs bill when it returns from recess. Since Republicans use concern for the deficit as justification for attempting to sabotage Obama's recovery plan, Obama is explicit that the small business jobs bill is already paid for, so it will not add to the deficit.