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U.S. jobs bill aims at getting economy moving: Biden

(Xinhua)

11:44, October 24, 2011

WASHINGTON, Oct. 23 (Xinhua) -- The jobs bill proposed by the Obama administration could help get the U.S. economy moving and reduce the high unemployment, U.S. Vice President Joe Biden said on Sunday.

Some downside risks to the U.S. economy including the European debt crisis were out of control of the world's largest economy, while the Republicans and Democrats should compromise to pass the jobs bill to boost the domestic economic growth and job creation, Biden said in an interview with CNN aired on Sunday.

Facing a sluggish economic growth and stubbornly high unemployment rate, U.S. President Barack Obama unveiled a jobs plan on Sept. 8, including measures like payroll tax cuts for employers and employees as well as new investment in infrastructure projects.

However, Republican Senators killed the passage of the jobs package on Oct. 11, and a portion of the bill that provided 35 billion U.S. dollars to state and local governments to prevent layoffs of teachers, police officers and fire-fighters failed to advance in the Senate on Oct. 20.

Biden noted that the jobs plan could also help distressed homeowners get refinancing and stabilize the country's property sector, which was critical to a stronger U.S. economic recovery.

U.S. unemployment, currently at 9.1 percent, is expected to keep as high as 9 percent into the 2012 presidential election year.

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