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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: NormsRevenge

The economy is racist!


61 posted on 08/29/2010 6:41:09 PM PDT by Junior_G (Funny how liberals' love affair with Muslims began on 9/11)
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To: NormsRevenge

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.


62 posted on 08/29/2010 6:42:26 PM PDT by eaglestar
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To: meyer
somewhere in Kenya , a village is missing it's idiot"
63 posted on 08/29/2010 6:46:04 PM PDT by KTM rider ( ..........tell me this really isn't happening ! !)
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To: NormsRevenge
No magic bullet to fix the problem?

I beg to differ.

64 posted on 08/29/2010 6:46:17 PM PDT by DocH (Official Right-Wing Extremist Veteran Seal Of Approval)
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Comment #65 Removed by Moderator

To: maggief

ROFLMAO @ Post #13. Priceless. :)


66 posted on 08/29/2010 6:50:14 PM PDT by Diana in Wisconsin (Save the Earth. It's the only planet with Chocolate.)
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To: RKBA Democrat
The problem is no business is going to invest if they don’t see that they will make a profit doing so.

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.

67 posted on 08/29/2010 6:50:45 PM PDT by AndyJackson
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To: NormsRevenge

mkay... so much for “We are the ones we’ve been waiting for..” lmao


68 posted on 08/29/2010 6:50:53 PM PDT by Ancient Drive (DRINK COFFEE! - Do Stupid Things Faster with More Energy!)
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To: bigbob
Actually there is, but we can’t go there....

Yeah, but then there's 'Kevlar Biden'.

69 posted on 08/29/2010 6:50:58 PM PDT by meyer (Our own government has become our enemy,...)
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To: NormsRevenge

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.


70 posted on 08/29/2010 6:53:29 PM PDT by ThunderSleeps (obama out now! I'll keep my money, my guns, and my freedom - you can keep the change.)
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To: LRoggy
July 26, 2010: "Obama's message to voters: Things could be worse"

I guess that wasn't simply a rhetorical flourish, but a promise.

71 posted on 08/29/2010 6:54:19 PM PDT by ProtectOurFreedom
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To: DaxtonBrown
here's your magic bullet...
72 posted on 08/29/2010 6:54:37 PM PDT by Neidermeyer
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To: NormsRevenge
Imam Obama did nothing but yell about how the economic downturn was Bush's fault and that once he's elected it would magically improve.
73 posted on 08/29/2010 6:55:42 PM PDT by tobyhill
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To: NormsRevenge; kristinn
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.

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!

74 posted on 08/29/2010 6:58:02 PM PDT by Carry_Okie (The fourth estate IS the fifth column.)
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To: NormsRevenge

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 ?


75 posted on 08/29/2010 7:00:48 PM PDT by dbrew2u
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To: AdmSmith; Arthur Wildfire! March; Berosus; bigheadfred; blueyon; Convert from ECUSA; dervish; ...

Thanks NormsRevenge. That’s all. Just thanks. Nothin’ else on my mind.


76 posted on 08/29/2010 7:05:29 PM PDT by SunkenCiv (Democratic Underground... matters are worse, as their latest fund drive has come up short...)
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To: mmercier

“...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! :)


77 posted on 08/29/2010 7:05:39 PM PDT by Diana in Wisconsin (Save the Earth. It's the only planet with Chocolate.)
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To: NormsRevenge
WATCH THIS... it is short and on target

Click on the image of Obummer below or here.


78 posted on 08/29/2010 7:06:46 PM PDT by B-Cause (Don't pick a fight with an old man. If he is too old to fight, he'll just kill you.)
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To: NormsRevenge

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.


79 posted on 08/29/2010 7:08:37 PM PDT by eaglestar
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To: meyer
If he can't figure out how the get the umbrella through the gate, I don't know how he can be expected to understand the simple concept of supply and demand.

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......)

80 posted on 08/29/2010 7:09:31 PM PDT by spokeshave (Islamics and Democrats unite to cut off Adam Smith's invisible hand)
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