Obama predicted that if the act were passed with all its measures intact, it would increase GDP by close to two percent and employ 1.9 million people. Passing the bill “is the most important thing we can do right now,” he said.
The president said the bill could spur long-term economic growth and cautioned that without taking appropriate measures, the U.S. could become less competitive globally.
Obama repeated his belief that certain tax rate increases will benefit the national economy.
“Whenever America’s moved forward, it’s been because we’ve moved forward together,” he said.
Obama also addressed the future of entitlement programs, calling for long-term reform while professing that people about to begin receiving benefits would not lose those entitlements.
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