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» Download AudioVOA News | White House 02 February 2010
US President Barack Obama answers questions during a town hall meeting, 02 Feb 2010 at Nashua North High School in Nashua, New Hampshire
U.S. President Barack Obama has again gone on the road to try to persuade Americans to support his economic agenda. The president is campaigning for his plan to encourage hiring.
President Obama visited the Northeastern state of New Hampshire on Tuesday, to promote a plan he hopes will help ease the nation's ten percent unemployment rate.
Mr. Obama says money repaid by large banks that received government help should be lent to small businesses, where he says most of America's job creation takes place.
"I am announcing a proposal to take $30 billion of the money that was repaid by Wall Street banks-now that they are back on their feet - take that $30 billion and use it to create a new small business lending fund that would provide capital for community banks on Main Street," said President Obama.
As Mr. Obama admitted in last week's State of the Union address, the federal bailout of big financial institutions has been unpopular. But he says it was necessary to prevent the U.S. financial system from collapsing.
That program, plus stubborn unemployment, are among the factors in the president's sagging approval ratings and victories by the opposition Republican Party in several recent elections.
At a public forum in New Hampshire, Mr. Obama said he shares Americans' frustration with persistent joblessness.
"I have got to be honest with you-there is no magic wand that makes the economic problems that were years in the making disappear overnight," said Mr. Obama. "And sometimes it is easy for politicians to exploit the anger and the pain that people are feeling right now."
The president addressed Republican opposition to his policie
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