Tuesday
Apr202010
Job Creation Remains Vital In Economic Recovery Says Biden
By Justine Rellosa-Talk Radio News Service
Vice President Joe Biden announced Tuesday that the economy is, in fact, "on the mend" and added that job creation is still at the forefront of change.
According to government figures, the Recovery Act has created 2.5 million jobs so far and it increased the current GDP by as much as three percent last quarter. Biden said that nearly $100 billion of the Recovery Act tax cuts are pulling "double-duty" shifts by helping families gain efficient income through multiplier effects and boosting economic activity.
"The economy is clearly on a mend. In the first quarter of this year we added 54,000 jobs per month. Now, I know, and we all know, that that rate of job growth is too slow to bring down the unemployment rate," Biden said. "Continued weakness in job creation remains a major challenge, one the President and the whole administration is committed to meeting."
The Vice President said that the plan for economic growth includes rules and regulations that protect consumers and tax payers, education reform, sustainable federal spending and energy independence.
"The next expansion is characterized by prosperity that is broadly shared by new economic opportunities for the middle class," Biden said. "By finally tearing down the barriers to health care and education [and] by starting us down a path toward energy independence, we’ll be building the America we need in order to compete... and lead in the 21st century."
Vice President Joe Biden announced Tuesday that the economy is, in fact, "on the mend" and added that job creation is still at the forefront of change.
According to government figures, the Recovery Act has created 2.5 million jobs so far and it increased the current GDP by as much as three percent last quarter. Biden said that nearly $100 billion of the Recovery Act tax cuts are pulling "double-duty" shifts by helping families gain efficient income through multiplier effects and boosting economic activity.
"The economy is clearly on a mend. In the first quarter of this year we added 54,000 jobs per month. Now, I know, and we all know, that that rate of job growth is too slow to bring down the unemployment rate," Biden said. "Continued weakness in job creation remains a major challenge, one the President and the whole administration is committed to meeting."
The Vice President said that the plan for economic growth includes rules and regulations that protect consumers and tax payers, education reform, sustainable federal spending and energy independence.
"The next expansion is characterized by prosperity that is broadly shared by new economic opportunities for the middle class," Biden said. "By finally tearing down the barriers to health care and education [and] by starting us down a path toward energy independence, we’ll be building the America we need in order to compete... and lead in the 21st century."
Administration Has Zero Tolerance For Stimulus Fraud, Says Biden
Talk Radio News Service
Despite the fact that his administration has received frequent criticism over the Recovery Act, Vice President Joe Biden told reporters on Friday that it has been a success. By acting with “transparency, responsibility, and accountability,” he argued that the Recovery Act, or stimulus bill, has revived the U.S. economy by spurring growth and creating jobs with minimal cases of fraud.
According to Biden, out of 170,000 checks that have been sent out to companies and individuals involved in stimulus projects, only .2% are under investigation for fraud.
Biden who was tapped by President Barack Obama last year to oversee the implementation of the Recovery Act, echoed the President's desire to fully account for all money spent, and that appropriate actions will be taken to handle evidence of fraud.
"We should take every action possible [and] legally under our power to...impose sanctions in freezing those funds," said Biden.
The Vice President said he believes new technologies and programs that allow the government to detect fraud more easily will deter future attempts at fraud.
“We have weapons,” he said. “We have weapons that we didn’t have, didn’t use before.”