Obama says his mission is to accelerate recovery

AP News
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Posted: Oct 29, 2010 12:19 PM
Obama says his mission is to accelerate recovery

President Barack Obama says his mission is to accelerate the economy's recovery. He's calling attention to a proposal he says would create jobs, grow the economy and help businesses.

Obama spoke Friday after the government reported that the economy grew at a faster rate from July to September. It was the last snapshot of the country's economic health before voters elect a new Congress on Tuesday.

Obama wants Congress to allow businesses to deduct 100 percent of the cost of certain investments, such as new equipment, through the end of 2011. Businesses now can deduct half of such costs.

Obama says such a break would leave businesses with extra money they could use for hiring or additional investments.