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 ...
we just have to suck it up and let the inmates run the yard for a time.
sanity will eventually be restored, hopefully via the franchise.
Barry Poppins?
Magic bullet? This buffoon and idiot congress has known for years about the bad economy and actually made it worse!
She has that look like you can’t do nothing right.
thanks for the laugh.
you got to learn to walk the edge of the line.
excuse me! please provide details Mr. President! Certainly you would not engage in fabrications - again?? better known as lies??
Cutting taxes would only marginally help. As long as he is there - the economy is dead. The USA is morphing into a islamic third world sh*thole.
Thank the idiots who voted for him and idiots who watch Tv that supports him.
I’m not touching this either.
“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.”
Small businesses don’t need credit, and the capital gains issue isn’t that big of a deal. Capital gains aren’t an issue until you sell an ownership interest in something. The problem is no business is going to invest if they don’t see that they will make a profit doing so.
Obama has no clue!
He has no experience at running anything except his mouth!
I'm not touching that one.
Reagan also WANTED to fix the problem. Barack does not. As far as he is concerned, all is going according to plan-- perhaps just not fast enough.
lol... “We need Safer Guns and Safer Bullets!”
who said it???
That “magic bullet” quote from Obama sounds like bait to me...
It’s just too easy to come up with a witty reply to that one
that will get you in trouble.
I envision an animation... with the One's hands moving back and forth as the stubborn, unyielding umbrella pole thwarts progress. O-dumb-O, indeed.
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