After taking office, President Obama signed the Recovery Act to help get our economy back on track. As a result:
- The U.S. has seen 23 consecutive months of private-sector job growth.
- The private sector added nearly 3.7 million jobs over those 23 months.
- The manufacturing sector has added 396,000 jobs since December 2009, with annual job growth in the last two years for the first time since 1997.
The President passed legislation to create jobs and support working Americans, including:
- A payroll tax cut for all working families, providing the average working family with a $1,000 tax cut in 2011
- Expansion of small business loan programs to help small businesses access credit and create jobs
- Initiatives to help veterans transition to post-service careers
- Tax incentives for businesses that hire unemployed veterans
The President made the decision to provide emergency loans to the auto industry:
- Saving more than 1.4 million American jobs
- Preventing personal income losses over two years of more than $96 billion
- Helping make the big three (Chrysler, GM, and Ford) all profitable for the first time in years
Reblog to spread the word.
“Jobs are created by demand. Employers don’t hire people because they have money, they hire when — and only when — there is more demand for their product than they can meet with their existing work force.”