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Obama says economy not growing fast enough (there's no "magic bullet" that will fix its problems)
Reuters on Yahoo ^ | 8/29/10 | Caren Bohan

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 ...


TOPICS: Breaking News; Business/Economy; Government; Politics/Elections
KEYWORDS: bsmagic; carter2; economy; expected; expected10percent; expected8percent; expected9percent; itstheeconomystupid; magicbs; magicbullet; malaise; maskofzer0; mensarejects; mosqueofzer0; muslim; obama; obamabowlshis36iq; saysduh4the; unexpected; unexpected10percent; unexpected8percent; unexpected9percent; vacation; vacationvocation; wizard
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To: maggief
"Uhh...ahhhh...We're buying shrimp here guys, come on!" "Errr....that damn George Bush put this gate here..ahhh..not my fault!" Photobucket
41 posted on 08/29/2010 6:25:23 PM PDT by ladyvet (WOLVERINES!!!!!)
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To: OpusatFR; ladyvet

http://www.timesunion.com/news/article/Obama-commits-to-revival-of-Gulf-Coast-636250.php

http://www.timesunion.com/mediaManager/?controllerName=image&action=get&id=312475&width=628&height=471


42 posted on 08/29/2010 6:25:34 PM PDT by maggief
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To: NormsRevenge
no one would dare fire that magic bullet, not with biden and pelosi in secession.

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.

43 posted on 08/29/2010 6:27:58 PM PDT by mmercier (and the cradle will rock)
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To: ladyvet

Barry Poppins?


44 posted on 08/29/2010 6:28:28 PM PDT by PennsylvaniaMom (Our next President is the MOTHER of a Combat Veteran!)
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To: NormsRevenge
Unsurprisingly, the White House said...it would “love to back additional stimulus,” but outside of that, “RIGHT NOW, NOTHING IS POSSIBLE…” to get our economy moving again. ”
45 posted on 08/29/2010 6:28:49 PM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: NormsRevenge

Magic bullet? This buffoon and idiot congress has known for years about the bad economy and actually made it worse!


46 posted on 08/29/2010 6:29:02 PM PDT by KC_Conspirator
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To: NormsRevenge
I thought that the stimulus bill passed Feb 13 in 2009 was supposed to fix all our unemployment problems... as I recall unemployment would not go above 8 %..
47 posted on 08/29/2010 6:29:35 PM PDT by JoanneSD
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To: maggief

She has that look like you can’t do nothing right.


48 posted on 08/29/2010 6:31:04 PM PDT by swheats (America! America! God mend thine every flaw, Confirm thy soul in self-control, Thy liberty in law!)
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To: ladyvet

thanks for the laugh.

you got to learn to walk the edge of the line.


49 posted on 08/29/2010 6:31:19 PM PDT by mmercier (evil ways)
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To: NormsRevenge
“...President Barack Obama said on Sunday the U.S. economy was expanding ..”

excuse me! please provide details Mr. President! Certainly you would not engage in fabrications - again?? better known as lies??

50 posted on 08/29/2010 6:35:36 PM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-Qaeda" and its allies.)
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To: Kozak

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.


51 posted on 08/29/2010 6:35:46 PM PDT by Frantzie (Imam Ob*m* & Democrats support the VICTORY MOSQUE & TV supports Imam)
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To: ladyvet

http://www.johnspeedie.com/healy/heyho.wav


52 posted on 08/29/2010 6:35:56 PM PDT by BenLurkin (This post is not a statement of fact. It is merely a personal opinion -- or humor -- or both.)
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To: ladyvet

I’m not touching this either.


53 posted on 08/29/2010 6:36:03 PM PDT by GreatMan
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To: NormsRevenge

“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.


54 posted on 08/29/2010 6:36:58 PM PDT by RKBA Democrat (Amateurs study tactics, professionals study logistics, and victors study demographics.)
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To: NormsRevenge

Obama has no clue!

He has no experience at running anything except his mouth!


55 posted on 08/29/2010 6:39:51 PM PDT by kcvl
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To: NormsRevenge
Obama says... there's no "magic bullet"

I'm not touching that one.

56 posted on 08/29/2010 6:40:07 PM PDT by outofstyle (Anti-socialist)
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To: Cubs Fan
the economy was far worse when Reagan took over from Carter and he fixed it. But then again, HE knew what to do.

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.

57 posted on 08/29/2010 6:40:23 PM PDT by Mygirlsmom (He is not one of US.)
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To: NormsRevenge

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.


58 posted on 08/29/2010 6:40:23 PM PDT by Safrguns
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To: NormsRevenge

The One Speaks to Us







Soon, You will all be making THIS MUCH Money, Have THIS Much Liberty, And You will ALL have ME to Thank FOR it!
Now Kneel Down and worship me!



ML/LTOS

59 posted on 08/29/2010 6:40:41 PM PDT by left that other site
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To: maggief; Roscoe Karns; dead; potlatch

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.

60 posted on 08/29/2010 6:41:09 PM PDT by Ezekiel (The Obama-nation began with the Inauguration of Desolation.)
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