WASHINGTON (AP/The Huffington Post) -- President Barack Obama says the uncertainty over whether lawmakers will raise the nation's debt limit is keeping businesses from hiring.
Speaking in the Rose Garden, Obama says that once Congress reaches an agreement on the debt ceiling, businesses will have the confidence they need to add workers to their payrolls.
"Today's job report confirms what most Americans already know: We still have a long way to go and a lot of work to do to give people the security and opportunity that they deserve," Obama said.
The Labor Department said Friday that the economy added only 18,000 jobs last month, the fewest jobs in nine months. The unemployment rate ticked up slightly to 9.2 percent.
The reports come as Democrats and Republicans near an urgent deadline to increase the nation's borrowing power and prevent the U.S. from defaulting on its obligations.
"To put our economy on a stronger and sounder footing for the future, we've got to rein in our deficits and get the government to live within its means, while still making the investments that help put people to work right now and make us more competitive in the future," Obama said Friday.
Congressional Republicans used the dismal report to slam Obama's economic agenda.
"The situation that we face is pretty urgent, as a matter of fact I would describe it as dire," House Speaker John Boehner said at a news conference, emphasizing that "a debt limit increase that raises taxes or fails to make serious spending cuts won't pass the House."
He was backed up by Majority Leader Eric Cantor, who said that deficit reduction talks held by Vice President Joe Biden that Cantor abandoned had ended because Democrats were insisting on raising taxes.
"Now it just does not make sense for Americans to suffer under higher taxes in an economy like this," said Cantor, R-Va.
Obama has insisted that some revenue increases be included in a deficit-reduction plan.
Boehner, R-Ohio, also stressed the need to reach a deal before the government starts defaulting on its debt on Aug. 2.
"I frankly think it puts us in an awful lot of jeopardy and puts our economy in jeopardy, risking even more jobs. So I believe it is important that we come to an agreement," he said.
Full Article
Source: Huffington
Speaking in the Rose Garden, Obama says that once Congress reaches an agreement on the debt ceiling, businesses will have the confidence they need to add workers to their payrolls.
"Today's job report confirms what most Americans already know: We still have a long way to go and a lot of work to do to give people the security and opportunity that they deserve," Obama said.
The Labor Department said Friday that the economy added only 18,000 jobs last month, the fewest jobs in nine months. The unemployment rate ticked up slightly to 9.2 percent.
The reports come as Democrats and Republicans near an urgent deadline to increase the nation's borrowing power and prevent the U.S. from defaulting on its obligations.
"To put our economy on a stronger and sounder footing for the future, we've got to rein in our deficits and get the government to live within its means, while still making the investments that help put people to work right now and make us more competitive in the future," Obama said Friday.
Congressional Republicans used the dismal report to slam Obama's economic agenda.
"The situation that we face is pretty urgent, as a matter of fact I would describe it as dire," House Speaker John Boehner said at a news conference, emphasizing that "a debt limit increase that raises taxes or fails to make serious spending cuts won't pass the House."
He was backed up by Majority Leader Eric Cantor, who said that deficit reduction talks held by Vice President Joe Biden that Cantor abandoned had ended because Democrats were insisting on raising taxes.
"Now it just does not make sense for Americans to suffer under higher taxes in an economy like this," said Cantor, R-Va.
Obama has insisted that some revenue increases be included in a deficit-reduction plan.
Boehner, R-Ohio, also stressed the need to reach a deal before the government starts defaulting on its debt on Aug. 2.
"I frankly think it puts us in an awful lot of jeopardy and puts our economy in jeopardy, risking even more jobs. So I believe it is important that we come to an agreement," he said.
Full Article
Source: Huffington
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