Posted on 03/12/2009 8:08:45 PM PDT by topfile
U.S. President Barack Obama says he is optimistic that the economy's long-term future is strong if officials can solve structural problems with the global economy. The president shared his views on the state of the economy with the leaders of some of America's biggest companies.
President Obama expressed guarded confidence to business leaders gathered in Washington, as he promoted his economic plan. "I do not think things are ever as good as we say and they are never as bad as they say. Things, two years ago, were not as good as we thought, because there were a lot of underlying weaknesses in the economy, and they are not as bad as we think they are now," he said.
Mr. Obama said the United States still has the best industry and workforce to guide it out of economic trouble. And he said banks will survive and investors' savings will be protected.
The president spoke at a meeting in Washington of (the Business Roundtable,) an association of leading U.S. companies' chief executive officers.
There were other small signs of optimism Thursday. General Motors said it will not need a $2 billion government loan for this month. Bank of America's chief executive officer said his company will not need additional financial help from the government. The government reported that retail sales fell far less than expected in February. And the Dow Jones Industrial Average gained almost 240 points.
However, Mr. Obama warned against the false confidence that he says led to many of the current problems in the economy. "We cannot continue to base our economy on reckless speculation and spending beyond our means; on bad credit and inflated home prices and overleveraged banks," he said.
(Excerpt) Read more at voanews.com ...
What a manipulative sob he is.
when he was trying to pass his stimulus bill with 93% earmarks for his pay off’s then the country was in such a crisis that it couldn’t wait 5 days to be read by congress. They had to sign it right then and there and trust him.
If it wasn’t signed we were in for a meltdown that he couldn’t get us out of ... remember?
The next crisis will be scheduled when he needs to pass a bill that would never be passed if read and understood.
The “community organizer” probably idn’t take econ. 101.
Exactly!
Panic is the fuel for Obama's brand of change.
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