With millions of Americans unemployed, many economists believe a job growth program powered by another stimulus will help get Americans back into the workplace.
While many Washington insiders heard Obama mention the word “slashing” throughout his news conference yesterday, many failed to miss the most important part which had to do with spurring growth.
“One of the most important things we can do for debt and deficit reduction is to grow the economy,” Obama said. “Deficit reduction, debt reduction should be part of an overall package for job growth over the long term. It is not the only part of it, but it is an important part of it.”
The new talk out of Washington is that Obama would be well-served to attach stimulus to his debt reduction deal. Even if it adds to the deficit, it can spur the type of growth that will put Americans back to work, and help him in his re-election campaign.
“If there are steps in the short term [that] may reduce the amount of cash in the treasury but in the long term mean we are growing at 3.5 percent instead of 2.5 percent, then those ideas are worth exploring,” he said.