After the December 2010 unemployment figures were released last Friday, President Obama took the time to discuss what 12 consecutive months of private sector job growth means and how his administration plans to capitalize on this during the coming year.
“Now, part of our mission -- part of this team’s mission -- in the months ahead will be to maximize the steps we’ve taken to spur the economy. And one of the most important is allowing businesses to immediately deduct the entire cost of certain investments like the new equipment that I was taking a look at. This is a policy I fought for over the past two years. We were able to pass it finally as part of the tax cut compromise. It is going to make a real difference for our economy.” Source: White House
The tax cuts implemented in the compromise package passed in late 2010 will hopefully spur businesses to open up their hiring process and start putting Americans back to work in increasing numbers. While the economic forecast for 2011 is more of the same, that is a 9 percent or higher unemployment rate, I’d love to see this number drop significantly and I’m sure I’m not alone with this wish.
Photo: Leader Nancy Pelosi/Flickr