President Obama laid out his economic plan in this weekend’s weekly address. The plan calls for smart investments in three areas: small businesses, the clean energy industry, and the middle class. Although Obama is hopeful about his economic plan he cautions Americans to not expect instant results.

“Now, I can’t tell you that this plan will bring back all the jobs we lost and restore our economy to full strength overnight.  The truth is, it took nearly a decade of failed economic policies to create this mess, and it will take years to fully repair the damage.  But I am confident that we are finally headed in the right direction.  We are moving forward.  And what we can’t afford right now is to go back to the same ideas that created this mess in the first place.” Source: White House

Once again Obama takes the time to call out Republican leaders for their partisan political games – this time a flawed jobs plan that includes removing many small business tax credits, repealing health care reform, stopping future clean energy investments, and permanently adopt tax cuts for the wealthy.

President Obama takes issue with the fact that this is touted as a “jobs” bill - “These are not new ideas.  They are the same policies that led us into this recession.  They will not create jobs, they will kill them.  They will not reduce our deficit, they will add $1 trillion to our deficit.  They will take us backward at a time when we need to keep America moving forward.”

I’m not an economist nor am I a politician. I don’t have the answers but I do know that something different needs to happen because the status quo is not working. The July 2010 unemployment figures will be released on Friday and it will be interesting to see what that report reveals about the state of our nation.

Photo: The White House/Flickr

Obama: Smart investments will help economy
President Obama's weekly address once again focused on helping the nation’s economy; this week the President focuses on smart investments in small businesses,