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July 22, 2010

Obama Says More Needed to Boost US Economy

U.S. President Barack Obama is hailing progress made on financial reform and unemployment benefits, but he says more needs to be done to boost the country's economy.

Mr. Obama spoke Friday after signing into law this week the most sweeping set of financial regulatory reforms since the Great Depression of the 1930s.  He said the new law will protect Americans from the reckless behavior that sparked the financial crisis.  He also praised Congress for voting this week to restore unemployment insurance to about 2.5 million Americans.

The president said his ultimate goal is to make sure that all Americans looking for work can get jobs.  He also called on lawmakers to pass legislation designed to helpe small businesses, adding that the success of those businesses is crucial to the health of the U.S. economy.

A bill emerging in the U.S. Senate would create a $30 billion government lending fund for small businesses.

Some information for this report was provided by AP and Reuters.