President Barack Obama delivers remarks at Xavier University in New Orleans, Louisiana, August 29, 2010. REUTERS/Jim Young
Posted on 08/29/2010 6:05:35 PM PDT by NormsRevenge
WASHINGTON (Reuters) – President Barack Obama said on Sunday the U.S. economy was expanding but not at a robust enough pace and there was no "magic bullet" that will fix its problems.
Obama said in an NBC interview that the batch of grim economic data over the past few weeks was something his administration had anticipated.
...
"The economy is still growing, but it's not growing as fast as it needs to," Obama told NBC in the interview in New Orleans, where he stopped after a vacation on the Massachusetts island of Martha's Vineyard.
Obama faces a dilemma in trying to reassure Americans about the economy without appearing to be out of touch with frustrations, which have been rising over the sluggish growth and scarcity of jobs.
The economy is the top issue in the November 2 congressional elections, where Obama's Democrats are bracing for potentially big losses to Republicans.
Obama's first week back at the White House will be heavily focused on foreign policy issues. ..
Obama gave little indication in the interview of any new proposals that might be unveiled in the near future. He noted that that the "short-term politics" of the election season might make it hard to get such measures passed.
But he urged the U.S. Congress to pass some of his existing proposals such as plans aimed at spurring lending to small businesses and tax breaks for such firms. He also touted his initiatives to encourage investment in clean energy.
"We should be passing legislation that helps small businesses get credit, that eliminates capital gains taxes so that they have more incentive to invest right now," he said. "There are a whole host of measures we could take. No single element of which is a magic bullet."
(Excerpt) Read more at news.yahoo.com ...
don’t tell aRlen Specter that.
Small business does NOT want credit!
The term is ‘slow roll’ for your entire term, Mr. Obama.
The list, ping
Let me know if you would like to be on or off the ping list
President Barack Obama delivers remarks at Xavier University in New Orleans, Louisiana, August 29, 2010. REUTERS/Jim Young
If only whining, bellyaching and incompetent buck passing were worth something, then we’d have it made....
“Obama said in an NBC interview that the batch of grim economic data over the past few weeks was something his administration had anticipated.”
When will this clown’s lying ever be held accountable, when his approval hits 20%??
I thought all the bad economic news has been "unexpected". What changed?
Everytime Obama speaks I picture Elmer Fudd and hear, “No more buwetts!”
Darn tootin' right.
But not for the reasons that Obama envisions.
There is no magic governmental bullet to turn this around. Instead, government needs to stop introducing uncertainty into business decisions.
And then let the slow but deliberate process of capitalism start turning the gears to turn it all around.
But that's not what Obama wants. He wants to pretend that government is the solution, and not the core problem.
What an idiot! The economy is not growing fast enough.. however, the wreaking ball “Obama” will still do away with the Bush tax cuts.
We get evidence every single day that this guy has absolutely NO clue about economics. Create massive uncertainty about the future direction of taxes, deficits, energy costs, etc., and then bemoan the lack of economic growth? Among the many reasons he never released his college and law school transcripts is that I bet they would show no economics, finance, accounting, etc. classes (let alone American history :)).
I guess I'll leave this alone since I don't feel like being banned tonight.
C-U-T T-A-X-E-S
Aw geez! Not that cr*p again!
Actually there is, but we can’t go there....
As long as the democRAT wrecking crew is running government, the economy will NOT grow.
No sense letting urgency get in the way of his Socialistic agenda.
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