Job creation top priority in 2010 -President Barack Obama

President Barack Obama renewed his pledge on Saturday to make job creation his top priority in 2010 but said it was also critical to rein in a record budget deficit that threatened an economic recovery.

Obama used his weekly radio and Internet address to remind Americans of the various proposals he put forward in the last week to spur job growth and tame a $1.4 trillion deficit.

“As we work to create jobs, it is critical that we rein in the budget deficits we’ve been accumulating for far too long — deficits that won’t just burden our children and grandchildren, but could damage our markets, drive up our interest rates, and jeopardize our recovery right now,” he said.

“But when so many people are still struggling — when one in 10 Americans still can’t find work, and millions more are working harder and longer for less — our mission isn’t just to grow the economy,” he said.

“Job creation will be our number one focus in 2010. We’ll put more Americans back to work rebuilding our infrastructure all across the country,” he said.

Obama emphasized proposals to achieve that goal: tax credits to help small businesses hire new workers and invest in new equipment, as well as the elimination of all capital gains taxes on small business investment.

Source:  Reuters.