Obama: Government, business help shape US future

Feb 06, 2011 By DARLENE SUPERVILLE , Associated Press
President Barack Obama and Canada's Prime Minister Stephen Harper take part in a joint news conference, Friday, Feb. 4, 2011, in the Eisenhower Executive Office Building on the White House complex in Washington. (AP Photo/Charles Dharapak)

(AP) -- President Barack Obama says the American government has a responsibility to make the U.S. the best place in the world to do business, but companies have a responsibility to invest in the nation's future by keeping jobs here, hiring workers and paying decent wages.

Obama devoted his weekly radio and Internet message Saturday to ideas from his State of the Union address, specifically a plan to put the U.S. on a more competitive footing globally by spending on innovation, education and public works.

"In today's global, competitive economy, the best jobs and newest industries will take root in countries with the most skilled workers, the strongest commitment to research and technology and the fastest ways to move people, goods and information," the president said, previewing his speech Monday to the U.S. Chamber of Commerce.

Obama mentioned his visit this past week to Penn State University, where researchers are designing more energy-efficient buildings. He also spoke about next Thursday's trip to Marquette, Mich., a place the says illustrates how increased Internet access can help businesses grow. Obama has called for expanding high-speed, to 98 percent of Americans within five years.

He talked about federal tax credits and financing programs that are helping companies boost their bottom lines and hire workers.

Obama said that government has a responsibility to support businesses but that businesses have responsibilities, too.

"They should set up shop here and hire our workers and pay decent wages and invest in the future of this nation," he said. "That's their obligation."

Obama, who has been working overtime to overcome perceptions that he is anti-business, said his message to the will be that everyone will benefit if government and businesses work together.

"Our workers will succeed. Our nation will prosper. And America will win the future in this century just like we did in the last," he said.

Republicans spoke about the economy and jobs, too, but Rep. Jeb Hensarling of Texas used his party's weekly address to chide Obama for proposing to extend Washington's "spending binge" at a time of growing budget deficits.

Congressional budget experts recently projected that the difference between federal spending and revenues will surge to a record $1.5 trillion for the budget year that ends Sept. 30.

Hensarling called for spending cuts and spending reform.

"You know, my questions for the president are these: Mr. President, how does us down the road to national bankruptcy help us `win the future'? And Mr. President, how does borrowing even more money from the Chinese make us more competitive?" he said.

"After two years, it's pretty clear we can't borrow, spend and bail out our way to economic prosperity. No nation can," Hensarling added. "So while I appreciate the president's can-do rhetoric, his job-destroying policies won't do, and that's what matters most to American families."

Explore further: Alibaba surges in Wall Street debut

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Obama promotes clean energy; GOP hits Dem spending

Oct 02, 2010

(AP) -- Wind, solar and other clean energy technologies produce jobs and are essential for the country's environment and economy, President Barack Obama said in promoting his administration's efforts.

Obama sharpens jobs element of energy pitch

Feb 03, 2011

President Barack Obama, turning briefly to his eclipsed domestic agenda Thursday, called on the nation's businesses to make fresh investments in clean energy technology that lay a foundation for long-term ...

Technology cos. commit funds to Obama program

Jan 31, 2011

(AP) -- Three of the nation's biggest technology companies are committing hundreds of millions of dollars to an initiative backed by President Barack Obama to encourage job creation and economic growth by supporting small ...

Obama to promote energy ideas at Penn State

Feb 03, 2011

(AP) -- Promoting an overshadowed domestic agenda, President Barack Obama on Thursday will propose a new tax credit and other steps aimed at persuading the nation's businesses to make their buildings more energy-efficient.

The Scientific State of the Union

Jan 29, 2010

The guest list for Wednesday night's State of the Union address included two young but elite members of the scientific community. High school students Li Boynton and Gabriela Farfan spent the school night ...

Obama turns to Web to take questions from public

Mar 26, 2009

(AP) -- President Barack Obama kicked off a first-of-its-kind Internet-era town hall at the White House on Thursday, pushing hard for public support of his $3.6 trillion budget and asking people to be patient ...

Recommended for you

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

Sep 19, 2014

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

Sep 19, 2014

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 4

Adjust slider to filter visible comments by rank

Display comments: newest first

paulthebassguy
not rated yet Feb 06, 2011
I agree with both arguments here. Yes, america needs continued investment in innovation & technology, and yes I agree that borrowing & spending needs to decrease.

It sounds like a double edged sword. But, I think the best outcome would be if the government set up policies that encouraged private investment in these areas - that would minimise the growth of government debt & create jobs.
Quantum_Conundrum
1 / 5 (2) Feb 06, 2011
Unfortunately, the bankrupt social security system makes everyone in my generation a 6.5% slave to their elders.

Owning someone in this country is supposed to be illegal, but that's exactly what the social security system does.

It gives one generation part ownership of the next generation.
ryggesogn2
1 / 5 (2) Feb 06, 2011
Get the government out of the way and businesses will invest in the USA.
The data is VERY clear between states and between nations.
However, it requires the government to acknowledge its limit to power to control emergent systems.
Which is one reason I suspect many science and computer types (not as prevalent among engineers) support statism/socialism as it reinforces their concept of determinism.
Engineers must interact with the real world solving problems and have a better understanding of emergence.
Justsayin
1 / 5 (1) Feb 07, 2011
This empty suit needs to take an Econ 101 course. He is in way over his head. I bet there were many people in his audience with MBA's just flabbergasted.