Last month, President Obama discussed his views on the U.S. economy before a Minnesota audience at a Honeywell factory in Golden Valley. According to President Obama, the economy is not growing or creating jobs quickly enough because of external factors such as high gas prices and Europe’s economic issues.
However, the news provided by President Obama was not all bad. He indicated that the economy was growing again and that 4.3 million new jobs had been added in the previous 27 months. While growth and new jobs are positive signs for the U.S. economy, the President acknowledged that the growth and job creation simply isn’t as fast as many would like.
In his Minnesota speech, President Obama called on Congress, and particularly Republicans in Congress, to pass certain provisions that the President believes could help create jobs and economic growth. Some of those provisions may include tax breaks for small businesses and federal government help for state governments so that layoffs of teachers, police officers, firefighters and others can be avoided. Additionally, the President is calling for additional assistance for veterans looking for jobs when they return home.
Republican Presidential Candidate Mitt Romney has called the jobs report “dismal” and cited it as evidence that President Obama’s economic plans are failing.
As the 2012 campaign season continues, our Minnesota bankruptcy lawyers expect to hear more from both major party presidential candidates and other candidates for federal and state offices, as the economy in general and job loss in particular is likely to remain a very important issue for voters.