US President Barack Obama has communicated that the new economic plan formulated by his government will be emphasizing upon the middle class in the United States more secure and the country will be more competitive than ever.
It was also remarked by Obama that jobs and industries of the future will not be outsourced to destinations like India and China.
From in.news.yahoo.com:
Obama raised the pitch of outsourcing of jobs to India and China and gave it a political colour at a fund party raiser in Atlanta in the run up to the crucial-mid term election a few months away in which his Democratic party is anticipated to loose majority in the House of Representatives. “18 months ago, I took office after nearly a decade of economic policies that gave us sluggish growth, falling incomes, a record deficit and policies that culminated in the worst financial crisis that we have seen since the Great Depression,” he said.
A total of 8 million jobs were lost due to great depression, of which 3 million were lost in last six months of 2008, in January 2009, the month I was sworn 750,000 Americans lost their jobs; 600,000 were lost a month later, he added. Obama said that instead of spending money on tax breaks, his government was making smart investments in innovation, clean energy and education that were going to benefit the people and the US economy over the long run.
“Instead of giving special interests free reign to do whatever they want, we are demanding new accountability from Wall Street to Washington – so that big corporations have to play by the same rules that small businesses and entrepreneurs do,” he said. The US President assured the gathering that it would take some time to dig themselves out from the “such a deep hole” that was created due to the policies of the last decade.
Obama said that the US economy is expanding instead of contracting ever since he took up the Presidential job in January 2009.
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