By Michele Moon, NEJS Public Relations Manager & Cam Foley, Marketing Consultant

President Barak Obama

President Barak Obama, as part of his Town Hall Tour, stopped in Nashua, NH on Tuesday, February 2, 2010.  His formal remarks began by recalling his time spent in the state during his presidential campaign, drinking beer and eating ice cream with the good people of New Hampshire. He engaged the audience and expressed appreciation for the warm reception.

President Obama spoke on health care, the budget, reducing the deficit, global warming, clean energy infrastructure and jobs.

President Obama acknowledged that 1 in 10 Americans are out of work. He recognizes the fact that 7 million jobs have been lost since the recession started and that companies have not begun hiring again; “We need to put people back to work” for a sustainable recovery.  “… jobs [have] to be our #1 focus in 2010”.

“We are going to start where most jobs start – with small business.” Historically 65% of all new jobs have been created by small businesses. That is why the new program President Obama announced will make it easier for small businesses to expand operations and hire more employees.

Under this new program, $30 billion dollars will be made available to small businesses. This money will be available in the form of tax credits for small businesses that hire new employees and/or raise wages of existing employees.  Additional tax credits will be given to small businesses for investment in new plants and capital equipment. Capital gains taxes will be eliminated for investments made in small businesses.

President Obama stated “There is no magic wand that will make the economic problems that were years in the making disappear overnight.”, but he feels the worst is behind us.

For the full transcript of President Obama’s speech visit White House’s Briefing Room.