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| Home > News > Financial and Economic News > Obama American economy hinges on small business growth |
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| Obama American economy hinges on small business growth |
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| 2/22/2011
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President Barack Obama told a group of Ohio-based entrepreneurs on Tuesday that the success of small businesses will shape the future of the U.S. economy.
According to Bloomberg BusinessWeek, the President met with business owners at Cleveland State University to discuss the various problems that hinder growth. Obama said that Ohio is the "new Michigan" because it is a place where job losses have significantly impacted the city's overall culture.
His appearance in Ohio is the latest proof that Obama is making a concerted effort to appeal to the business community. Last week, the President had a private dinner with entrepreneurial tycoons Steve Jobs of Apple, Mark Zuckerberg of Facebook and Eric Schmidt of Google.
Earlier this year, Obama appointed William Daley - a former member of the Chamber of Commerce - as his chief of staff, and Gene Sperling - a former executive of Goldman Sachs - as the head of his National Economic Council. Furthermore, he selected Jeffrey Immelt - CEO of General Electric - to lead the Council on Jobs and Competitiveness.
Obama's business-friendly agenda appears to be flourishing along with consumer confidence. According to media reports, the Conference Board - a private research firm - reported that the index of consumer confidence jumped to 70.4 in February from 64.8 in January. The reading was significantly higher than economists' projection of 66 for February. |
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