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 ...
The economy is racist!
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.
Sure there is. Resign from office, have all Democrats in office resign and you’ll see how fast the economy and the country as a whole recovers.
I beg to differ.
ROFLMAO @ Post #13. Priceless. :)
Our problem is structural. Too much of the so-called economy does nothing productive, and just consumes resources (time, money, space). It has become unsustainable. Of course it cannot grow. There are productive things that should grow, but only when you get the government off of everyone's back.
mkay... so much for “We are the ones we’ve been waiting for..” lmao
Yeah, but then there's 'Kevlar Biden'.
Well effing duh the economy isn’t growing. That’s because government is growing. the magic bullet, the one thing that could turn the economy around in just a few weeks, would be for Hussein to fie Biden appoint plain vp, then resign.
I guess that wasn't simply a rhetorical flourish, but a promise.
Um, Zero... Bullets are for killing things. You think you "fix" the economy with bullets? Just what kind of "fix" were you imagining?
Wow, talk about a Freudian slip!
No Magic Bullet ! How about the Trillions of Tax Payer Dollars that you have already Spent ? They were worth Nothing ? How about all of the Job killing Bills that you managed to get passed ? They Mean Nothing ? People are frightened about the Future because of your Policies. I suppose they mean nothing to you either ?
Thanks NormsRevenge. That’s all. Just thanks. Nothin’ else on my mind.
“...no one would dare fire that magic bullet, not with biden and pelosi in secession.”
Note to self: When I am President, surround myself with socialist idiots and I’m bullet proof! :)
The Obama Presidency and the Democrat run Congress are like a computer virus. It slows down the speed, affects it’s performance and doesn’t get better until you find the magic bullet that finally removes it from your system in order to improve it’s overall performance.
And from an earlier golf tour:
"No Mr President,....your power stroke didn't explode that golf ball....you struck an addled duck egg"...
(Caddy continues under his breath....and you egged everything you touched...economy...defense....national debt,...race relations...housing market...health care......)
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