*In a speech at the White House on Friday, President Barack Obama said there is “no quick fix” for the economy, but his team is working on a new series of proposals to boost growth and hiring.
Obama spoke following the Labor Department’s latest employment report, which showed that private payrolls had jumped a better-than-expected 67,000 in August but that the unemployment rate inched up from 9.5% to 9.6%.
Obama urged Congress to pass the small-business aid bill it’s currently working on, and promised more to come.
“I will be addressing a broader package of new ideas next week,” Obama promised, saying the economy is already headed in “the right direction; we just have to speed it up.”
White House Press Secretary Robert Gibbs dialed down expectations a bit saying the new plan would be tightly focused.
“Some big new stimulus plan is not in the offing,” he said.