Obama refutes Charges made that his Agenda against the Foreclosures

Obama launched a strong defense of his economic policies refuting allegations made against them by his critics that these policies smacked of socialism. He stressed that his main focus has been to increase the competitiveness of America overseas.

Addressing the he asked for support for the efforts being made by his government to thoroughly revamp the financial regulatory system and to generate jobs. The Business Roundtable comprises of some of the top executives of the country.

The remarks by the President are significant taking into account the mood of unease and uncertainty amongst the business groups regarding the policies he has been pursuing focusing on the economy and the budget. Also of concern are his legislative pushes for bringing about reform in healthcare, energy and regulations in the financial world.

In a prepared speech Obama said, “Contrary to the claims of some of my critics, I am an ardent believer in the free market.” Obama explained that his measures to bring about sweeping legislative changes so as to revamp the regulations in finances and to set limits to carbon emissions so as to battle climate change were not trying to place hurdle before business activities.

He said, “We have arrived at a juncture in our politics where reasonable efforts to update our regulations, or make basic investments in our future, are too often greeted with cries of ‘government takeover’ or even ’socialism’.” He went on to explain that “Getting this balance right has less to do with big government or small government than it does smart government. It’s not about being anti-business or pro-government; it’s about being pro-growth and pro-jobs.”

The measures being taken by Obama got a boost up on last Wednesday 24th February when the Senate, in a rare bipartisan mood, voted approval for a package of $15 billion for tax breaks and spending on highways. Its target is to bring down the persisting high number of unemployment rate hovering at 9.7% by indulging in constructive spending. can also be a target

The bill would now proceed towards the House of Representative that would most probably give a quick nod enabling Obama to ink it into law. Obama extended his welcome to the Senate’s green signal. He said, “This is an important step forward in putting more Americans back to work as soon as possible.”

President Obama and his Democrats are fiercely committed to bringing down the unemployment figures prior to the November elections.

Original Post: Obama refutes Charges made that his Agenda against the Background of Foreclosures and Unemployment