President Obama: Our Economy Really Needs a Jolt Right Now

President Barack Obama speaks during a press conference in the East Room of the White House, Oct. 6, 2011. (Official White House Photo by Pete Souza)

President Obama held a press conference today to talk about the American Jobs Act and the upcoming Senate vote on his plan to put people back to work and put more money in the pockets of working Americans. 

Before taking questions from the reporters who were gathered in the White House, the President talked about the very real danger that fallout from the economic situation in Europe could further jeopardize our own economic recovery:

This is not a game; this is not the time for the usual political gridlock. The problems Europe is having today could have a very real effect on our economy at a time when it’s already fragile. But this jobs bill can help guard against another downturn if the situation in Europe gets any worse. It will boost economic growth; it will put people back to work. 

And by the way, this is not just my belief. This is what independent economists have said -- not politicians, not just people in my administration. Independent experts who do this for a living have said this jobs bill will have a significant effect for our economy and for middle-class families all across America. And what these independent experts have also said is that if we don’t act, the opposite will be true. There will be fewer jobs; there will be weaker growth.

The American Jobs Act would put thousands of teachers back to work, rebuild old and broken down bridges and roads and provide tax cuts that will benefit hard working Americans. As President Obama said

The proposals in this bill are not just random investments to create make-work jobs. They are steps we have to take if we want to build an economy that lasts, if we want to be able to compete with other countries for jobs that restore a sense of security to middle-class families. And to do that, we’ve got to have the most educated workers. We have to have the best transportation and communications networks. We have to support innovative small businesses. We’ve got to support innovative manufacturers.

You can jump to see President Obama's answers to specific questions posed by the reporters by clicking on the links below.  

• Federal Reserve Chairman Bernanke said the economy is close to faltering, do you agree? Wouldn't it be more productive to pass a bill that republicans agree with?
• Do you think the economy is faltering?
• Do you approve of the surtax on millionaires proposed by the Senate?
• Are you worried about your own powers of persuasion and maybe that the American public isn't listening?
• Are you following the Occupy Wall Street movement and what would you say to the members of the movement?
• Are there plans to prosecute members of Wall Street for breaking the rules? Also, do the Solyndra and Fast and Furious controversies give you doubt about the decision making of your administration?
• Are you satisfied with the way your administration has handled fraud on Wall Street?
• How do you plan to stop banks from charging new fees on debit cards?
• Why has the clean energy industry been so slow to respond to the investment that your administration has provided?
• In retrospect do you think your administration rushed to a decision on the Solyndra loan?
• How open are you to negotiations on the American Jobs Act?
• Will public pressure persuade Congress to pass the American Jobs Act?
• Would you sign the bill to pressure China to let its currency rise?
• What should European leaders do to resolve the sovereign debt crisis going forward?