President Barack Obama moved unilaterally today to boost private business by signing executive orders aimed at spurring economic growth. The orders cap a week in which Obama sought to employ the power of his office as he struggles to make headway on his jobs bill on Capitol Hill. Obama’s orders direct government agencies to shorten the time it takes for federal research to turn into commercial products in the marketplace. The goal is to help startup companies and small businesses create jobs and expand their operations more quickly. On the other front, Obama called for creation of a centralized online site, to be known as BusinessUSA, for companies to easily find information on federal services. The site, a recommendation of the president’s jobs council, is to be up and running within 90 days and will be designed with input from U.S. businesses. Obama announced both steps in presidential memos released this morning. The White House had no estimate for how many jobs would be created as a result of these steps. On a larger scale, the president himself announced two other executive actions this week, one offering help for homeowners seeking to refinance at lower mortgage rates and the other allowing college students to simplify and lower their student loan payments. The White House also issued a challenge to community health centers in a bid to help get veterans jobs. White House aides expect more such actions in coming days.
Obama takes solo steps to benefit businesses
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