WASHINGTON, (KUNA): Obama jobs bill & Obama fox news interview. US President Barack Obama on Thursday signed into law the first of a series of bills aimed at putting millions of unemployed Americans back to work.
Speaking in the White House rose garden, Obama called the 'Hire Act', which includes USD 18 billion in tax breaks and pumps USD 20 billion in highway and transit programs, said the economy is "beginning to move in the right direction" but cautioned that the federal government alone cannot repair all the damage.
"Our economy is now growing again and we may soon be adding jobs instead of losing them. The jobs bill is intended to accelerate that process. The government can't create all the jobs we need or repair all the damage that's been done during this recession," Obama said.
The bill will offer tax breaks for businesses who hire unemployment workers and extends highway and mass transit programs through the end of the year. Congress, with support from both sides of the isle, easily approved the bill yesterday, and it could generate some 250,000 jobs by the end of the year.
However, he added there was a lot more needed to spur hiring in the private sector and to bring about a full recovery, including unlocking credit to small businesses and putting Americans to work improving US infrastructure.
