President mulls new measures to spark economy

[Turborama]

By Ed Henry, CNN Senior White House Correspondent
September 3, 2010

STORY HIGHLIGHTS

- Obama will deliver remarks Friday on new unemployment numbers
- He will follow with two speeches next week on economic issues
- Obama will speak Monday in Wisconsin and Wednesday in Ohio
- Both states have close gubernatorial and Senate contests

Washington (CNN) -- After a week mostly focused on Iraq and Mideast diplomacy, it's back to the economy for President Barack Obama, who will deliver remarks Friday on the August unemployment numbers. Then, Obama is scheduled to give two big speeches next week to try and frame his administration's response to the recession, less than two months ahead of a midterm election where Democratic majorities in the House and Senate are on the ropes.

Senior aides confirm the president recently asked his economic team to come up with various proposals he could roll out to show that amid high anxiety across the nation, he's still working hard to jump-start the economy, including more federal spending on infrastructure projects and tax cuts popular with the business community such as a permanent extension of the research and development tax credit.

Obama himself hinted at the options on the table on Monday in the Rose Garden, when he accused Republicans of blocking a separate $55 billion legislation package that would cut small business taxes. Senate Democrats hope to pass the package later this month and get it to the president's desk before the election.

"My economic team is hard at work in 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," Obama said. "Steps like extending the tax cuts for the middle class that are set to expire this year. Redoubling our investment in clean energy and R&D. Rebuilding more of our infrastructure for the future. Further tax cuts to encourage businesses to put their capital to work creating jobs here in the United States."

Full article: http://edition.cnn.com/2010/POLITICS/09/02/obama.economy/index.html?eref=mrss_igoogle_cnn#fbid=5tFS21of5oJ&wom=false

[midnight]

1. I think that some money in the hands of the people who

can move it more quickly than the banks might go a long way.