Home • Remarks by the President on Small Business Jobs Proposals

Jobs Numbers and the People They Represent

Jesse Lee

June 04, 2010
12:42 PM EST

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The President was touring K Neal International Trucks, Inc. in Hyattsville, Maryland this morning. The company is just a few miles out of DC, but it’s the kind of company in the kind of town you see all over America. After the tour he said a few words to the employees about the latest jobs numbers, which CEA Chair Christina Romer wrote about this morning:

I was talking to Stephen and he told me that rental and lease sales have improved, that there’s a pent-up demand out there for new equipment and you’ve added workers over the last few months. And Stephen said if things keep on going well, he’ll add more in the months ahead.

We’re hearing more and more stories like that all across America. A lot of businesses were hit hard during this downturn, but they’re starting to hire again. Workers who were laid off, they’re starting to get their jobs back. Companies that were almost forced to close their doors are making plans to expand and invest in new equipment.

And this progress is reflected in the monthly jobs reports that we get each month. We received one today. In May, the economy added 431,000 jobs. (Applause.) Now, this is the fifth month in a row that we’ve seen job gains. And while we recognize that our recovery is still in its early stages and that there are going to be ups and downs in the months ahead -- things never go completely in a smooth line -- this report is a sign that our economy is getting stronger by the day.

Now, I want to emphasize that most of these jobs this month that we’re seeing in the statistics represent workers who’ve been hired to complete the 2010 census. So these are temporary jobs that are only going to last until the fall, and that may be reflected in future jobs reports. But even if you put those temporary jobs aside, there’s no doubt that we saw another month of private sector job growth. And that is obviously critical because when businesses are hiring again, people start spending again. That, in turn, gives businesses more and more incentive to grow.

Now, this doesn’t mean that the recession is over for the millions of Americans who are still out of work, or the millions more who are still struggling to make ends meet. No words, no statistics, can take away the pain and the anxiety that a family feels because of this downturn. That can only be relieved with a steady paycheck and the security that a steady job brings.

What these numbers do mean, though, is that we’re moving in the right direction. The economic policies that we put in place are working. An economy that was shrinking at a scary rate when I was sworn in as President has now been growing for three consecutive quarters. We were losing 750,000 jobs a month during the winter of last year. We’ve now added jobs for six out of the last seven months.

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President Barack Obama talks with employees at K. Neal International, a commercial truck dealership and truck parts supplier, in Hyattsville, Maryland, June 4, 2010. (Official White House Photo by Samantha Appleton)

Remarks by the President to the Employees of K. Neal International Trucks, Inc.

K Neal International Trucks, Inc., Hyattsville, Maryland

9:43 A.M. EDT

THE PRESIDENT: Good morning, everybody.

AUDIENCE: Good morning.

THE PRESIDENT: Well, let me just -- please, everybody, have a seat -- have a seat. It is wonderful to be here. And I want to make a couple of quick acknowledgments. This guy behind me, you may know him -- he’s the Vice President of the United States, Joe Biden. (Applause.) Maryland’s Lieutenant Governor, Anthony Brown, is here. (Applause.) Got the mayor of Hyattsville, William Gardiner. (Applause.) And, of course, we’ve got to acknowledge the big man here -- (laughter) -- and he is big. (Laughter.) Owner of K Neal International, Stephen Neal. (Applause.)

Now, I want to thank K Neal for having us here today, giving us a quick tour and having us look at all these -- all these trucks. (Laughter.) This is a business that has been selling commercial trucks for over 40 years. This company employs workers from all over the greater Washington area. After two years of recession that caused so much pain in so many communities, this is also an example of a company that is starting to see business pick up again.

I was talking to Stephen and he told me that rental and lease sales have improved, that there’s a pent-up demand out there for new equipment and you’ve added workers over the last few months. And Stephen said if things keep on going well, he’ll add more in the months ahead.

We’re hearing more and more stories like that all across America. A lot of businesses were hit hard during this downturn, but they’re starting to hire again. Workers who were laid off, they’re starting to get their jobs back. Companies that were almost forced to close their doors are making plans to expand and invest in new equipment.

And this progress is reflected in the monthly jobs reports that we get each month. We received one today. In May, the economy added 431,000 jobs. (Applause.) Now, this is the fifth month in a row that we’ve seen job gains. And while we recognize that our recovery is still in its early stages and that there are going to be ups and downs in the months ahead -- things never go completely in a smooth line -- this report is a sign that our economy is getting stronger by the day.

Now, I want to emphasize that most of these jobs this month that we’re seeing in the statistics represent workers who’ve been hired to complete the 2010 census. So these are temporary jobs that are only going to last until the fall, and that may be reflected in future jobs reports. But even if you put those temporary jobs aside, there’s no doubt that we saw another month of private sector job growth. And that is obviously critical because when businesses are hiring again, people start spending again. That, in turn, gives businesses more and more incentive to grow.

Now, this doesn’t mean that the recession is over for the millions of Americans who are still out of work, or the millions more who are still struggling to make ends meet. No words, no statistics, can take away the pain and the anxiety that a family feels because of this downturn. That can only be relieved with a steady paycheck and the security that a steady job brings.What these numbers do mean, though, is that we’re moving in the right direction. The economic policies that we put in place are working. An economy that was shrinking at a scary rate when I was sworn in as President has now been growing for three consecutive quarters. We were losing 750,000 jobs a month during the winter of last year. We’ve now added jobs for six out of the last seven months.

The taxpayer money it cost to shore up the financial sector and the auto industry is being repaid. I know it was unpopular, but it was the right thing to do. And both GM and Chrysler -- (applause) -- both GM and Chrysler are adding shifts and operating at a profit, which nobody would have imagined just a year ago.

The question now is, how do we keep this momentum going? How do we keep adding jobs, raising incomes? How do we keep growing not just our economy but growing our middle class?

In the short-term, we have to keep creating the conditions for companies like K Neal to succeed, to keep growing, to keep hiring. Because of a bill I signed into law a few months ago, businesses are now eligible for tax cuts for hiring unemployed workers. Companies are also able to write off more of their investments in new equipment. And as part of health reform, 4 million small businesses recently received a postcard in their mailbox telling them that they will be eligible for health care tax cuts this year and that those tax cuts could be worth tens of thousands of dollars to those companies. (Applause.)

I’ve also urged Congress to cut more taxes for small businesses and pass a Small Business Lending Fund, so that small businesses can get the incentives and the credit that they need to create jobs and grow. I believe it’s absolutely critical that we extend unemployment insurance for several more months, so that Americans who’ve been laid off through no fault of their own get the support they need to provide for their families and they can maintain their health insurance until they’re rehired. And we should provide further support so that states are not cutting back on jobs and vital services, as well as incentives to create clean energy jobs.

Now, in the long run -- all that's in the short term. That's still part of the emergency effort to help build the economy and grow it coming out of the recession. But in the long run, we need to invest in the technologies and innovation that will lead to the jobs and the industries of tomorrow.

So I want to introduce to everybody who’s here -- we’ve got Dan Ustian, who is the president of Navistar. Dan, stand up. (Applause.) Now, Navistar is a company that sometimes does business with K Neal International. And for months, Navistar’s Indiana manufacturing plant has been working on an electric delivery truck that’s fueled entirely by plug-in power. In fact, I visited the plant before it had produced its very first truck. And my understanding, Dan, is --

MR. USTIAN: We’re ready to go.

THE PRESIDENT: We’re ready to go. Thanks to the investments that we made in the Recovery Act, it just delivered its first truck a few weeks ago. Now, this is a plant that gave jobs to unemployed factory workers, and they’re now part of a cutting-edge industry that will create even more jobs and businesses in the months and years ahead.

That’s what the future can look like. If we keep on making investments in research and development, in technology and clean energy, products and industries that we haven’t even imagined yet can find a home right here in the United States of America. And if we provide our citizens with the education and training they need to do these jobs, we’re again going to see rising incomes and a growing middle class. That’s what we can do to make this economy stronger, rebuild it even stronger than it was before.

And I have to say that Joe Biden oversaw the execution of our Recovery Act and hasn’t gotten a lot of credit for it, but it has been scandal free, the money has been spent on time.

I was just talking to Stephen, and as he indicated, what the Recovery Act did was to help during a bad winter, during a tough time, helped him to keep that business, if not growing, then at least stable. And it helped him keep folks on the job that otherwise might have lost their jobs. (Applause.) And Joe deserves a lot of credit for that, so give Joe Biden a big round of applause. (Applause.)

By the way, Joe says he used to be able to drive some of these trucks. (Laughter.)

THE VICE PRESIDENT: That’s true.

THE PRESIDENT: But I would suggest he not -- not to lend him a car -- that was a long time ago. (Laughter.)

THE VICE PRESIDENT: Hey, man.

THE PRESIDENT: Now, let me tell you what we can't do. We can't go backwards. What we can't do is go back -- now that we're starting to climb out of this hole that was dug for us, we can't go back to the very same policies that failed us in the last decade; the same policies that led us into that hole.

Think about it. We've already tried scaling back our investments in clean energy and education and innovation so that we could give tax breaks to the wealthiest Americans and the biggest corporations, and that didn’t work. We already tried putting industry insiders in charge of oversight -- didn’t work. We already tried stripping away rules and regulations that kept Wall Street banks and oil companies in bounds. We let them play by their own rules instead, and it didn’t work.

So we already know where these ideas led us. And we're going to have a choice as a nation moving forward. We're going to be able to return, if we want, to the failed economic policies of the past; policies that gave us record deficits and declining incomes and sluggish job growth even before the recession; policies that led, in fact, to us almost going into a depression. We can take that road again. Or we can decide we want to move forward. We can keep building a stronger economy. We can keep pursuing the policies that have started to create jobs again; policies that invest in companies like K Neal; policies that invest in companies like Navistar; policies that invest in our people and in our future.

So I don't know about you, I don't want to go backwards. I want to move forward. (Applause.) And I believe that the American people want to move forward as well. This economy hasn’t returned to prosperity yet, but we’re heading in the right direction. There are going to be some ups and downs. There are going to be some months where people start worrying that maybe we're not out of the hole yet. But if we remain determined, if we stick to it, if we stay the course of investing in our people and businesses like K Neal that are the heart and soul of America, then I'm absolutely positive we can succeed.

And with your help -- with the hard work and ingenuity of workers and entrepreneurs like the ones at this company -– I'm absolutely positive we're going to have a brighter future.

So, thanks for the great work you do. Thanks to Joe Biden for the great work that he does. God bless you. God bless the United States of America. (Applause.)

END
9:56 A.M. EDT

The White House

Office of the Press Secretary

For Immediate Release

June 04, 2010

Cabinet Secretaries, Senior Officials Hold Events Across the Country to Highlight Administration's Commitment to Job Creation, Economic Growth

CORRECTION: An error in this advisory sent on Friday stated incorrectly that Holcim directly received ARRA funds.

May unemployment report, released today, shows economy added 431,000 jobs last month

WASHINGTON, DC – Today, as the May unemployment report released this morning shows that the economy added 431,000 jobs last month, Cabinet Secretaries and senior administration officials will travel across the country to hold events highlighting the administration’s commitment to job creation and economic growth. Among other activities, Administration officials will participate in ribbon cutting ceremonies for Recovery Act-funded projects, tour local facilities receiving upgrades as a result of Recovery Act investment and hold roundtables with small business owners to discuss the resources available to them through the federal government to help create jobs.

“Today, we learned that the economy added 431,000 jobs last month, which means we are again moving in the right direction,” said President Obama. “The economic policies we put in place are working. An economy that was shrinking at an alarming rate in January of 2009 has now been growing for three consecutive quarters. After losing an average of 750,000 jobs a month during the winter of last year, we have now added jobs for six out of the last seven months. While we recognize that our recovery is in its early stages, and that there will be ups and downs in the months ahead, this report is a sign that our economy is getting stronger by the day.”

Details on the Cabinet events being held across the country are below.

Wednesday, June 2nd

Small Business Administration
Administrator Karen Mills held a roundtable in Erie, Pennsylvania with Rep. Kathy Dahlkemper and women small business owners at Moore Research Services, the SBA’s 2010 Woman-Owned Business of the Year. The roundtable focused on the SBA’s tools to help women-owned small businesses grow, create jobs and help the Erie community thrive.

Thursday, June 3rd

Small Business Administration
Administrator Karen Mills held two small business town halls in Kankakee and Tinley Park, Illinois with Rep. Debbie Halverson to highlight the increased access to capital that has led to small business growth and job creation in Illinois.

Friday, June 4th

Department of Agriculture
Secretary Tom Vilsack, Governor Chet Culver and Rep. Leonard Boswell will hold a press conference at the state capitol in Des Moines, Iowa to highlight efforts to improve the economy. Secretary Vilsack will also discuss the Obama Administration’s continued commitment to job creation and economic growth.

11:00am CDT
Iowa State Capitol, Room 116
1015 East Grand Avenue
Des Moines, IA

Department of Commerce and NASA
Commerce Secretary Gary Locke and NASA Administrator Charles Bolden will join Reps. Suzanne Kosmas and Alan Grayson in Orlando, Florida tomorrow for a town hall meeting to hear directly from local leaders working to strengthen and diversify the Space Coast economy. Locke will also discuss the Obama administration’s continued commitment to job creation and strengthening the economy.

10:00am EDT
Orlando Airport Hyatt Regency Hotel
Intercontinental Ballroom – Section 5
9300 Airport Blvd.
Orlando, FL

Department of Housing and Urban Development
Secretary Shaun Donovan will visit Bow Highlands, an affordable housing project in Bow, New Hampshire that is currently under construction with HUD Recovery Act Tax Credit Assistance Program funds. Secretary Donovan will tour the facility and discuss the Obama Administration’s plans for economic recovery with employees.

8:50am EDT
Bow Highlands
195 Bow Bog Road
Bow, NH

Department of Transportation
Secretary Ray LaHood, along with Reps. Russ Carnahan and Jo Ann Emerson, will attend the ribbon cutting at Holcim’s newest cement plant in Ste. Genevieve, Missouri. The plant supported 2,500 jobs during construction, and now supports 250 full-time permanent positions.

11:00am CDT
Holcim Ste. Genevieve Plant
2942 US Hwy 61
Bloomsdale, MO

Department of Veterans’ Affairs
Secretary Eric Shinseki will visit Louis Stokes VA Medical Center in Cleveland, Ohio, where Recovery Act investments will help upgrade the surgical ward and help more Veterans access VA care. Through the Recovery Act, VA will make $15 million in investments in the Cleveland area.

10:30am EDT
Louis Stokes Cleveland VA Medical Center
10701 East Boulevard
Cleveland, OH

General Services Administration
Administrator Martha Johnson will join Rep. Andre Carson and Indiana businesses and workers in Indianapolis at the Major General Emmett J. Bean Federal Center, an active construction site funded by the Recovery Act, to discuss economic and job impacts spurred by Recovery Act-funded modernizations in Indianapolis. Construction will take place throughout the summer to transform the Bean Federal Center and the Birch Bayh Federal Building and U.S. Courthouse into higher-performing, greener federal buildings. Administrator Johnson will survey construction and visit with businesses and workers in local construction and emerging green industries.

10:30am EDT
Major General Emmett J. Bean Federal Center
8899 East 56th Street
Indianapolis, IN

Commissioner of Public Buildings Robert A. Peck and Mayor Harvey Johnson will visit workers and survey construction at the Dr. A. H. McCoy Federal Building in Jackson, Mississippi, where Recovery Act funds are putting people to work modernizing the aging federal building into a higher-performing, greener building.

11:00am CDT
Dr. A.H. McCoy Federal Building
100 West Capitol Street
Jackson, MS

Southwest Regional Administrator JD Salinas will join Rep. Lloyd Doggett and Texas construction workers to survey the ongoing construction of a new, energy-efficient federal courthouse in downtown Austin, Texas. They will discuss job creation and economic growth in Central Texas as a result of Recovery Act investments in the Austin Courthouse construction and construction to transform San Antonio’s historic Hipolito F. Garcia Federal Building and U.S. Courthouse into a higher performing, greener federal building.

9:00am CDT
501 W. Fifth Street
Austin, TX

Acting Pacific Rim Regional Administrator Jeff Neely will join Sen. Daniel Inouye and Hawaii workers and businesses in Honolulu to break ground on the Recovery Act-funded modernization of the Prince Jonah Kuhio Kalanianaole Federal Building. State-of-the-art green technologies will be used to convert the facility into a high-performance green building.

10:00am HST
Federal Building Courtyard
300 Ala Moana Boulevard
Honolulu, HI

Department of Labor
Dr. Ed Montgomery, executive director of the White House Council on Automotive Communities and Workers, will travel to Columbus, Ohio to visit Advance Industrial Manufacturing, a supplier to the energy and auto industries that has participated in the pilot program E3: Economy, Energy and Environment. The E3 pilot is a coordinated federal and local effort to provide technical assistance to manufacturers to reduce energy consumption, minimize their carbon footprint, prevent pollution, increase productivity and enhance innovation.

10:45am EDT
Advance Industrial Manufacturing
1996 Longwood Ave
Grove City, OH

Department of Health and Human Services
Dr. David Blumenthal, National Coordinator for Health Information Exchange at HHS, will serve as the keynote speaker at the Florida Health Information Exchange Kickoff Meeting in Tallahassee, Florida to discuss the important role of Health IT in creating jobs. The emerging Health IT industry is expected to support tens of thousands of jobs ranging from nurses and pharmacy techs to IT technicians and trainers.

8:45am EDT
Florida State University
The Turnbull Center
555 West Pensacola St.
Tallahassee, FL

The Brooklyn Bridge & the Story of American Workers

Posted by Liz Oxhorn on June 03, 2010 at 12:33 PM EST

If you’ve ever looked back at the old black and white photos of America being built, with hard-working men and women creating the infrastructure and fueling the economy that made our country what it is today, you may have stumbled across pictures like this where workers scaled dizzying heights to put the finishing touches on the Brooklyn Bridge back in 1881:

Over the past year and half, the Recovery Act has put hundreds of thousands of hard-working men and women to work on the same kind of projects for the 21st Century -- once again fueling America’s economy by repairing, rejuvenating, improving and advancing much of same infrastructure that was first created back then.

During a visit to New York City yesterday, Vice President Biden stopped by the Brooklyn Bridge where Recovery Act dollars are at work making a contribution to New York City's locally-funded effort to repair, upgrade, and preserve one of America’s most historic crossings.

Vice President Biden Walks with Workers at Brooklyn Bridge

Vice President Joe Biden tours a construction site underneath the Brooklyn Bridge that is partially funded by the American Recovery and Reinvestment Act, in New York City, New York, 6/2/10 (Official White House Photo by David Lienemann)

After touring the construction site alongside Mayor Bloomberg, Vice President Biden spoke about how the $508 million project, which is funded in-part by the Recovery Act, will bring the Brooklyn Bridge into a state of good repair and improve traffic flow for the more than 120,000 vehicles, 4,000 pedestrians, and 2,600 bicyclists that cross every day.

“It’s great to see men and women back on the job, completing work on one of the truly, treasured landmarks this country possesses,” the Vice President told a crowd of about 40 construction workers near the Manhattan-side entrance to the bridge.

Vice President Biden Talks to Workers at Brooklyn Bridge

Vice President Joe Biden talks to construction workers during an American Recovery and Reinvestment Act event at the Brooklyn Bridge in New York City, New York, 6/2/10 (Official White House Photo by David Lienemann)

New York City says the Recovery Act’s $30 million investment in the project will create 150 jobs, generate economic activity and allow New York City to fund other critical infrastructure projects they otherwise would have eliminated or postponed. For the Brooklyn Bridge, it means a reconstructed roadway surface, rehabilitated and retrofitted steel support structures, expanded entrance ramps, and repainting to prevent corrosion.

As Vice President Biden noted, the Recovery Act has funded nearly 1,300 bridge projects and 14,000 transportation across the United States to-date.

Vice President Biden Speaks with Brooklyn Bridge in Background

Vice President Joe Biden speaks in front of the Brooklyn Bridge during an American Recovery and Reinvestment Act event, in New York City, New York, 6/2/10 (Official White House Photo by David Lienemann)

Liz Oxhorn is the Recovery Act Communications Director

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The White House

Office of the Press Secretary

For Immediate Release

May 28, 2010

Statement of President Obama on House Passage of the American Jobs and Closing Loopholes Act

Today, the House passed an important package of measures that would bring much-needed relief to our nation’s families and businesses during these hard economic times. The bill extends vital unemployment benefits to help those Americans who are fighting to find a good job, and provides tax cuts for individuals and businesses to help support the economic recovery. It helps extend Small Business Administration lending efforts so our nation’s small businesses can get the credit they need to create jobs and grow. And it includes funding to settle the long-standing discrimination claims that African-American farmers have had against the federal government and to resolve the Cobell case, helping address these painful chapters in our history. I am also pleased to see that this bill fully pays for its non-emergency measures by closing loopholes that allow corporations to avoid taxes by shifting their profits overseas, and by ensuring that investment managers pay the same tax rates on their earned income that the typical American worker pays.

While this is one important step forward in getting American families the help they need, Congress must act in the coming weeks on additional measures, including health care benefits for the unemployed, assistance to states to maintain health services and avoid layoffs of teachers, police officers and firefighters, and proposals I have put forth to support small businesses and help consumers invest in energy efficiency. I ask the Senate for its swift action on this package so I can sign it into law, and I urge Congress to move quickly on additional relief measures.

Growing Businesses and Putting Unemployed Workers Back on the Job

Posted by Tobin Marcus on May 27, 2010 at 12:52 PM EST

Yesterday, Vice President Biden held a Middle Class Task Force roundtable with small business employers and employees who are participating in highly successful jobs programs around the country. These state programs, funded through part of the Recovery Act, give employers a strong incentive to hire by paying for part of a new employee’s wages. These jobs programs are now up and running in 31 different states, and according to the most recent study, the programs will have placed 186,000 workers in jobs by the end of September.

We heard today about just how effective these subsidies have been. We had small business owners from Florida and New York telling us about how they have grown their businesses by bringing on new workers and training them. And we heard from some of those workers, who told us about the difference these programs have made in their lives by ending tough spells of unemployment and putting their careers back on track.

We’ve heard stories like these from all over the country. As the economy has started turning around, small business owners are starting to think about expanding, but often they’re not sure they can afford the cost of training new workers. By helping cover the cost of new employees in those crucial first months, these subsidized jobs programs are allowing businesses to finally start putting unemployed workers back on the job.

Unfortunately, the funding for these jobs programs will expire at the end of September unless Congress passes an extension, which is under debate right now. This Administration is continuing to push Congress to extend these programs, but stories like the ones the Vice President heard today really demonstrate the importance of that extension. These programs are creating jobs that are making a real difference in the lives of workers – both unemployed workers who are struggling not to fall out of the middle class, and those who aspire to work their way into the middle class for the first time.

To learn more about these subsidized jobs programs, including all the jobs they’re creating right now and why it’s so important that Congress continues them for another year, take a look at this Middle Class Task Force white paper (pdf).

Tobin Marcus is the Deputy Economic Policy Advisor in the Office of the Vice President

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“We’ve got to go back to making things”

Katelyn Sabochik

May 26, 2010
05:46 PM EST

Download Video: mp4 (236MB) | mp3 (19MB)

Today, President Obama visited Solyndra, Inc. in Fremont California – a solar panel manufacturer that is building a new facility (and creating new jobs) thanks to funding from the Recovery Act. So far, construction of the new facility has created over 3,000 construction-related jobs and the new factory could create up to 1,000 long-term new jobs. And this is just one of countless stories that together account for the up-to-2.8 million jobs the Recovery Act is responsible for by the CBO’s count.

During his remarks at the Solyndra facility the President stressed the importance reviving our economy by spurring innovation and creating new manufacturing jobs:

So we recognized that we’ve got to go back to basics. We’ve got to go back to making things. We’ve got to go back to exports. We’ve got to go back to innovation. And we recognized that there was only so much government could do. The true engine of economic growth will always be companies like Solyndra, will always be America’s businesses. But that doesn’t mean the government can just sit on the sidelines. Government still has the responsibility to help create the conditions in which students can gain an education so they can work at Solyndra, and entrepreneurs can get financing so they can start a company, and new industries can take hold.

So that’s why, even as we cut taxes and provided emergency relief over the past year -- we also invested in basic research, in broadband networks, in rebuilding roads and bridges, in health information technology, and in clean energy. Because not only would this spur hiring by businesses -- it would create jobs in sectors with incredible potential to propel our economy for years, for decades to come. There is no better example than energy.

President Obama greets workers at Solyndra Inc.

President Barack Obama greets workers as he tours a construction site at Solyndra Inc., a solar panel manufacturing facility, in Fremont, Calif., May 26, 2010. (Official White House Photo by Lawrence Jackson)

The President also stressed the importance of investing in clean energy to help wean Americans off our dependence on fossil fuels and foreign oil and to compete in the international economy. The recent oil spill in the Gulf of Mexico underscored the importance of that goal.

But even as we are dealing with this immediate crisis, we’ve got to remember that the risks our current dependence on oil holds for our environment and our coastal communities is not the only cost involved in our dependence on these fossil fuels. Around the world, from China to Germany, our competitors are waging a historic effort to lead in developing new energy technologies. There are factories like this being built in China, factories like this being built in Germany. Nobody is playing for second place. These countries recognize that the nation that leads the clean energy economy is likely to lead the global economy. And if we fail to recognize that same imperative, we risk falling behind. We risk falling behind.

The President reiterated the simple truth that investing in clean energy is “the right thing to do for our environment, it’s the right thing to do for our national security, but it’s also the right thing to do for our economy.”

President Barack Obama examines a solar panel with Solyndra Chief Executive Officer Chris Gronet, right, and Executive Vice President Ben Bierman, during a tour of Solyndra, Inc., a solar panel manufacturing facility, in Fremont, Calif., May 26, 2010. (Official White House Photo by Lawrence Jackson)

The Solyndra project is just one of the many ways the Administration is supporting clean energy manufacturing in America. Today Deputy Secretary of Energy Daniel Poneman participated in a ground breaking ceremony for Nissan North America’s new advanced batter manufacturing facility in Smyrna, Tennessee.

The Department of Energy closed a $1.4 billion dollar loan with Nissan North America to retool their facility in Smyrna to build advanced electric automobiles and batteries. Nissan has put that money to work by producing its all-electric vehicle, the LEAF, at its existing plant in Smyrna. The loan will also help Nissan will offer 150,000 electric vehicles to fleet and retail customers annually. Nissan has already created 250 jobs to retool the factory and anticipates the project may result in an increase of up to 1,300 jobs when full production is reached.

Related Topics: Economy, Energy and Environment, California, Tennessee

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The White House

Office of the Vice President

For Immediate Release

May 25, 2010

Statement from Vice President Biden on New CBO Report on Recovery Act Job Impact

WASHINGTON – Vice President Joe Biden today provided the following statement on the new Congressional Budget Office report on the employment impact of the American Recovery and Reinvestment Act. The report can be viewed in full HERE.

“Today’s report from the Congressional Budget Office is further confirmation that the Recovery Act is a driving force behind recent economic growth and has already put millions of Americans to work across the country. From my time in the Senate, I know that the CBO is respected on both sides of the aisle for its nonpartisan analysis of government programs – so the CBO’s estimate that the Recovery Act is already responsible for as many as 2.8 million jobs, or a range of 1.2 to 2.8 million, and on-track for as many as 3.6 million by the end of this year is important validation that the action we took to rescue the economy last year has not only pulled us back from the brink, but put us on a firm path toward economic recovery. As the CBO notes, without the Recovery Act, the unemployment rate could be as high as 11 percent right now. But the President and I know that for the millions of Americans still looking for work, the only job that matters is their own. That’s why we’re putting Recovery Act dollars to work on more job-creating projects than ever this summer and are continuing to fight for additional job creation investments that help us build on the progress we have made through the Recovery Act.”

A Helping Hand for Small Business

Jesse Lee

May 25, 2010
03:35 PM EST

There's no question that the economy has seen a dramatic turnaround since the President came into office -- but the President knows full well that it is not enough. That's why he continues to look for every opportunity for government to help spur hiring and get the economy growing at an even fast pace than it has been. And from the beginning of his term, promoting small business has been a central focus of the President's efforts.

Earlier this month, the President sent legislation on the Small Business Lending Fund to Congress along with a new state small business credit initiative that will help expand lending for small businesses and manufacturers at a time when budget shortfalls are forcing states to cut back on lending programs.

Read the White House fact sheet on the Small Business Jobs Package (pdf).

President Obama and Award-Winning Small Business Owners

President Barack Obama addresses award-winning small business owners from around the country during an event in the Rose Garden of the White House. Listening, from left, are; business owners Tom Sturtevant and Trapper Clark, Small Business Administration Administrator Karen Mills, and business owners Tamara Marquez-Nugent and Charles Reid, May 25, 2010. (Official White House Photo by Pete Souza)

So when the President hosted award-winning small business owners from around the country this morning in the Rose Garden, he honored them not just by recognizing their individual acheivements, but by citing their example to push Congress to pass the Small Business Jobs Package:

Frank and Donna Masley are here. They are Delaware’s Small Business Owners of the Year. Where are they? There they are, right there. Congratulations.

Ten years ago, they launched a glove-making business to provide flexibility and protection for our men and women in uniform. When they won a contract to supply gloves for soldiers in Iraq and Afghanistan in 2009, they received a Recovery Act loan through the SBA and saved thousands on fees. It was that loan that allowed Frank and Donna to rehire some employees who had been laid off during this recession, and today their business is growing and thriving once more.

So many people who are here today have stories just like this. Their success isn’t the result of a heavy-handed government. It’s the result of a government that lent a helping hand -- that complements the sheer grit and determination of America’s small business owners. And I believe we need to do even more to give these men and women a boost.

So that’s why I’m calling on Congress to pass small business jobs -- a small business jobs package as soon as possible. This legislation should ensure that creditworthy small business owners can get the capital they need to expand and create jobs. It should include needed tax relief, like our proposal to completely eliminate capital gains taxes for those making key long-term investments in small businesses. It should include expansions of vital Small Business Administration loan programs that are needed now more than ever. And it should include two important lending initiatives that I recently sent to Congress.

The first initiative is the $30 billion Small Business Lending Fund I called for in my State of the Union address. This fund would target only small community and neighborhood banks, and it would help these institutions increase lending to small businesses. The second initiative is a new state small business credit program that we recently proposed, working with governors like Governor Doyle and Governor Granholm. It’s an initiative that will help expand private lending for small businesses and manufacturers at a time when budget shortfalls are leading states to cut back on vitally important lending programs.

Now, I’m very pleased that elements of this small business jobs package have already passed the House Financial Services Committee last week, and I know that the Senate is working on the issue as well. I urge both chambers to act on these proposals as soon as possible.

This shouldn’t be a partisan issue. This is not a Republican issue or a Democratic issue. This should not be an issue about big government versus small government. This is an issue that involves putting government on the side of small business owners who create most of the jobs in this country. It’s about giving them tax credits and loans and tax cuts so they can keep growing and keep hiring. It’s about unleashing the great power of our economy and the ingenuity of our people.

Remarks by the President on Small Business Jobs Proposals

Rose Garden

11:23 A.M. EDT

THE PRESIDENT: Good afternoon, everybody. Everybody please have a seat.

It is wonderful to see all of you. Welcome to the White House. I want to acknowledge a couple folks before we get started. First of all, we’ve got some special guests who are here from wonderful states. They are doing great work. We’re very, very proud of them -- Michigan Governor Jennifer Granholm and Wisconsin Governor Jim Doyle. Please give them a big round of applause. Stand up, guys, so everybody can see you. (Applause.)

On the stage with me, we’ve got some -- the reason we’re here -- people who have helped to live out the American Dream and created jobs. And we are extraordinarily proud of them. We’ve got Trapper Clark and Thomas Sturtevant right over here. We’ve got Charles Reid right down here. And we’ve got Tamara Marquez-Nugent. These are the outstanding winners of this award, and you’re going to be hearing more about them. I also want to introduce somebody who I’m very proud of, who’s doing just a great job as our SBA Administrator, Karen Mills. Please give her a round of applause. (Applause.)

And we’ve got some wonderful members of Congress who are here -- I love them all dearly. (Laughter.) And we’re going to talk about the role Congress can play in doing the work that needs to be done right now.

This is the beginning of National Small Business Week, which every President has recognized since John F. Kennedy started the tradition in 1963. With us are some of the most successful, most hardworking entrepreneurs from across America. Each of you has distinguished yourselves as the Small Business Owner of the Year in your state or your region. Later today, a national winner will be announced. But all of you should be extremely proud of what you’ve accomplished this year. I know that I’m extremely proud of what you’ve accomplished.

Being a successful small business person isn’t just about collecting a profit or outperforming your competition. It’s about contributing to the success of this country’s economy. It’s about contributing to your country’s continued growth and prosperity. And it’s about securing your piece of the American Dream and helping your employees and your suppliers and all the people you work with secure their piece of the American Dream.

What’s always distinguished us as a nation is a belief that it’s a place where anybody with a good idea and a willingness to work can succeed. It’s the belief that has brought millions of people to our shores, and carried us through even the toughest economic times.

It’s how small businesses begin. Maybe somebody finally decides to take a chance on his dream. Maybe a worker decides it’s time to become her own boss. Either way, these entrepreneurial pioneers embody the spirit of possibility, the tireless work ethic, and the simple hope for something better that lies at the heart of the American ideal.

Some of you have opened mom-and-pop stores that have led to America’s biggest, most successful companies. Some have launched technology companies -- software and IT services that have redefined the marketplace. You collectively create two out of every three jobs here in the United States of America -- two out of every three jobs. And that’s why small businesses aren’t just the backbone of this economy -- you’re also the driving force behind this recovery.

The problem is, is that small business owners have also been the hardest hit by this recession. From the middle of 2007 through the end of 2008, small businesses lost 2.4 million jobs. And because banks shrunk from lending in the midst of the financial crisis, it’s been difficult for small business owners to take out the loans they need to open up shop or to expand. For those who do own a small business, it’s hard to finance inventories, make payrolls, or to do that additional work that could make your business grow.

Now, government can’t create jobs, but it can help create the conditions for small businesses to grow and to thrive and to hire more workers. Government can’t guarantee a company’s success, but it can knock down the barriers that prevent small business owners from getting loans or investing in the future. And that’s why so much of our economic agenda has been focused on America’s small businesses.

Last year, we enacted seven tax cuts for America’s small businesses, as well as Making Work Pay tax credits that go to the vast majority of small business owners. So far, the Recovery Act has supported over 64,000 loans to small businesses -- more than $27 billion in new lending. More than 1,200 banks and credit unions that had stopped making SBA loans when the financial crisis hit are lending again today. And more than $8 billion in federal Recovery Act contracts are now going to small businesses.

So right now, a series of additional tax incentives and other steps to promote hiring are taking effect. Because of a bill I signed into law a few months ago, businesses are now eligible for tax cuts when they hire unemployed workers. Companies are also able to write off more of their investments in new equipment. And as part of the health reform package, 4 million small business owners recently received a postcard in their mailboxes telling them that they could be eligible for a health care tax credit this year. It’s worth perhaps tens of thousands of dollars to your companies. And it will provide welcome relief to small business owners, who -- I know you guys understand -- all too often have to choose between hiring or keeping your health care for yourselves and your workers.

I also want to say a few words about what the SBA has been doing to help those workers and business owners who’ve been affected by the oil spill in the Gulf Coast. From the very beginning of this disaster, the SBA has acted quickly to assist fishermen and fishing-dependent small businesses. They’re offering low-interest loans and deferrals of existing loans. And while small businesses are encouraged to file claims with BP, these loans and deferrals can provide much needed temporary assistance.

So all of these steps have made a real difference in the lives of the people who own and work at small businesses all across America -- and that includes all of you who are here with us today.

I just met with Trapper and Tom, who are the state of Maine’s Small Business Owners of the Year. Karen assures me that the reason they’re on stage is not because they’re from Maine, her home state. (Laughter.) They started a company that manufactures aluminum trailers about four years ago with 20 employees. They’ve grown rapidly over the last few years, and that growth has been supported by a Recovery Act loan from the Small Business Administration. They got some of their fees waived. And today, they have 85 employees, are planning to add another 15 by the end of this year, and hope to add another 30 by the end of 2011.

Frank and Donna Masley are here. They are Delaware’s Small Business Owners of the Year. Where are they? There they are, right there. Congratulations.

Ten years ago, they launched a glove-making business to provide flexibility and protection for our men and women in uniform. When they won a contract to supply gloves for soldiers in Iraq and Afghanistan in 2009, they received a Recovery Act loan through the SBA and saved thousands on fees. It was that loan that allowed Frank and Donna to rehire some employees who had been laid off during this recession, and today their business is growing and thriving once more.

So many people who are here today have stories just like this. Their success isn’t the result of a heavy-handed government. It’s the result of a government that lent a helping hand -- that complements the sheer grit and determination of America’s small business owners. And I believe we need to do even more to give these men and women a boost.

So that’s why I’m calling on Congress to pass small business jobs -- a small business jobs package as soon as possible. This legislation should ensure that creditworthy small business owners can get the capital they need to expand and create jobs. It should include needed tax relief, like our proposal to completely eliminate capital gains taxes for those making key long-term investments in small businesses. It should include expansions of vital Small Business Administration loan programs that are needed now more than ever. And it should include two important lending initiatives that I recently sent to Congress.

The first initiative is the $30 billion Small Business Lending Fund I called for in my State of the Union address. This fund would target only small community and neighborhood banks, and it would help these institutions increase lending to small businesses. The second initiative is a new state small business credit program that we recently proposed, working with governors like Governor Doyle and Governor Granholm. It’s an initiative that will help expand private lending for small businesses and manufacturers at a time when budget shortfalls are leading states to cut back on vitally important lending programs.

Now, I’m very pleased that elements of this small business jobs package have already passed the House Financial Services Committee last week, and I know that the Senate is working on the issue as well. I urge both chambers to act on these proposals as soon as possible.

This shouldn’t be a partisan issue. This is not a Republican issue or a Democratic issue. This should not be an issue about big government versus small government. This is an issue that involves putting government on the side of small business owners who create most of the jobs in this country. It’s about giving them tax credits and loans and tax cuts so they can keep growing and keep hiring. It’s about unleashing the great power of our economy and the ingenuity of our people.

And when you have a chance to talk to Charles and you find out what he’s been doing in Michigan, creating a business that is expanding, working with restaurants and other institutions on their designs; when you think about somebody like Tamara, who started her own business after her husband, I believe, actually had to take disability and she’s now growing and hiring employees, getting into a business that historically has been male-dominated, the moving business -- when you hear their stories, you can’t help but be inspired. And you realize that there are thousands of people all across America who, despite the odds, despite the naysayers, are going out there and making their dreams happen.

So that’s what today should be about and that’s what this package in Congress should be about -- unleashing the great power of our economy and the ingenuity of our people. In so many ways, each of you today have shown that ingenuity as you’ve successfully navigated your companies through an extraordinarily difficult time -- the toughest time that we’ve seen since the Great Depression. You should be proud of that achievement, and know that as you continue that journey, you’re always going to have a fierce advocate in your President and in your SBA Administrator and in your government.

So thank you very much, everybody. Congratulations. (Applause.)

END
11:35 A.M. EDT