Flashback Obama in 2010: New Jobs Plan after Vacation

August 29, 2011 - 6:02 PM

(CNSNews.com) – President Barack Obama, in an Aug. 29, 2010 interview with NBC’s Brian Williams, said he would propose a plan for jobs and economic growth when he returned from his summer vacation, the same claim he made after returning from his vacation this year.

“We anticipated that the recovery was slowing – the economy is still growing, but it’s not growing as fast as it needs to. I’ve got things right now before Congress that we should move immediately, and I said so before I went on vacation, and I’ll keep on saying it now that I’m back,” Obama told Williams when asked if he had a jobs plan.

“There are a whole host of measures we could take – no single element of which is a magic bullet – but cumulatively can start continuing to build momentum for the recovery,” he said.

The promise of a plan echoes a similar promise Obama made on Monday, saying that in the coming week he would present concrete proposals that would spur hiring and economic growth.

“Next week, I will be laying out a series of steps that Congress can take immediately to put more money in the pockets of working families and middle-class families, to make it easier for small businesses to hire people, to put construction crews to work rebuilding our nation’s roads and railways and airports, and all the other measures that can help to grow this economy,” Obama said on Monday at a Rose Garden ceremony for new Council of Economic Advisors Chairman Alan Krueger.

Obama proposed only one concrete idea in the 2010 interview – legislation that “eliminates” capital gains taxes on small business. That idea did not make it through Congress. However, a similar measure allowing some small-businesses to write off 100 percent of their capital gains taxes on new investment was attached to the deal extending the Bush tax rates.

Another less-concrete idea, to allow businesses easier access to credit, did eventually pass, making $30 billion available to small banks in exchange for increased lending to small businesses.