News
What's weighing on Obama as he makes economic pitch
By: cnn.comPosted On: 09/10/2010 11:39 A
President Obama, looking to assure the country that he's the man with an economic plan, is taking his message to the media, and ultimately, the American public.
His Friday press conference at the White House undoubtedly will focus on the economy, but other controversial topics more than likely will come up: from the Florida pastor who had threatened to burn Qurans on September 11 to the building of an Islamic center near ground zero to the possibility that chief of staff Rahm Emanuel will leave his post to run for mayor of Chicago, Illinois.
CNN takes a look at the top issues Obama is facing on the economic front before the critical midterm elections in November.
Meeting the press
Friday's press conference is his first full-scale, question-and-answer session at the White House in nearly four months.
His last news conference there was on May 27 in the East Room, and was devoted in large part to the oil disaster in the Gulf of Mexico. It will be Obama's eighth news conference since taking office.
Pitching his proposals
The president has pushed for a new $350 billion plan to lift the sagging economy, including $200 billion in tax cuts for businesses to purchase new equipment and write off 100 percent of new investments through the end of 2011. Democrats argue that helping small businesses will create more jobs.
It comes at a time when Americans are deeply concerned over the high unemployment rate -- now at 9.6 percent -- and what they see as the lack of hiring.
Obama also has touted a $50 billion proposal for infrastructure investment as well as $100 billion to extend tax credits to businesses permanently for research and development.
Another option on the table, though controversial, is a second stimuluslike package. If Congress were to pass new economic recovery measures, it could pay for them by raising some $300 billion in new revenue by closing "tax loopholes," according to White House economist Jason Furman.
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