Economic reforms vital for growth: Obama

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DALLAS: American President Barak Obama has said that the passage of his pondered American Job Act will help in achievement of American dreams for people of this country.

American Dream Act has 40.000 teachers' jobs for Texas. President Obama was addressing his party activists and student of a community college in Mesquite near Dallas Texas.

He claimed that America is slipping down due to the current economic crisis against other nations of the world, where America is getting more dependent on other nations and where other nations are trying to assume leadership position.

He said that America has always leaded the world and in future we will regain the leadership position through investment in our education and infrastructure. He said that a millionaire who attains his position because of help he gets from society should pay back and play a positive role in reconstruction of our society and economy.

He said that if it is up to him then nobody will pay any tax, however it is a compulsion. He said that Republicans are opposing this bill as this would give me a win, but I tell them that elections are 13 months away but people are in a difficult economic condition now, Republicans instead of looking at me they should look at people who are hurting, so that people get some relief from the current economic crisis.

Obama claimed that the passage of this bill will generate hundreds of thousands of jobs for teachers, fire fighters, policemen and other areas including construction workers. "This is the reason I am going state to state and mobilizing people to contact their representatives and pressure them to pass this bill."

He said that American tax system has a lot of loop holes which results in as the famous billionaire Warren Buffet acknowledges that he pay less in taxes than his secretary.

This bill will be an attempt to end these loop holes so that everybody pay fare taxation, he said.

US president said "this bill will improve the welfare of people and will result in putting America on track of world leadership and we will be able to reclaim our leadership position in the world."

Obama was appreciated with several standing ovation by audience. A highly severe and strict security was present at this event. American Muslims and Pakistani delegation was led by Muslim Democratic Caucus ex President Syed Fayyaz Hassan. People greeted President Obama and shook hand with him at the end of the event.