Obama says his economic policies halted 'bleeding'

He hopes to gain some traction with impatient voters as they ponder whether to toss out his Democrats in the November 2 congressional elections.

In his weekly radio and Web address, Obama pointed to measures funded by the Democrats' US$814 billion economic stimulus as responsible for halting the economic slide he faced when taking office in January 2009.

This includes spending on roads and bridges and money given to local governments to avert layoffs of teachers, firefighters and police officers.

“The steps we have taken to date have stopped the bleeding,” Obama said. “But strengthening our economy means more than that.”

Other steps, he said, were aimed at helping the middle class, citing a portion of his U.S. healthcare overhaul that stopped insurance companies from refusing to cover people with pre-existing health conditions.

Obama is trying to convince Americans that Democratic policies offer the best economic future for them as he seeks to turn back a strong challenge from Republicans for control of the U.S. House of Representatives and possibly the Senate.

Obama is to visit a labor rally in Milwaukee on Monday, the Labor Day holiday, and then is to lay out targeted proposals to boost job growth when he visits Cleveland on Wednesday. A presidential news conference is planned on Friday at the White House.

A number of options are likely, such as extending middle class tax cuts, investing in clean energy, spending more on infrastructure, and delivering more tax cuts to businesses to encourage hiring.

Research Tax Credit

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