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Obama Touts New Tax Credit For Small Business

January 29, 2010
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By STEVEN OHLEMACHER and CHRISTINE SIMMONS Associated Press Writers

BALTIMORE (AP) President Barack Obama says his administration has "stopped the flood of job losses," but much more needs to be done to help the millions of people still out of work.

Appearing Friday at Chesapeake Machine Co. in Baltimore, Obama put in a pitch for legislation he is seeking from Congress to provide tax breaks for small businesses that hire additional workers.

Obama said, "It's time to put Americans back to work." At the same, he said that "we've got a long way to go to make up for the millions of jobs lost this recession."

He said a new report showing the economy grew at at annual rate of 5.7 percent in the last quarter an encouraging development. The president said he would take unpopular steps, if necessary, to get the economy going again.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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