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 ...
5....4...3...LOL! Just waiting for the post pulling fairy to come along....
Why they think a tax credit is worth anything to a business that just wants customers is beyond me.
Obama Fail
01/10/09: President-Elect Obama’s Weekly Address
http://www.youtube.com/watch?v=cTDln2f0GvQ&feature=player_embedded
At 2 minutes;
Obama “Our plan will likely save or create three to four million jobs, Ninety percent of these jobs will be created in the private sector”
Id get that one pulled if I were you
http://taxesandgrowth.ncpa.org/news/are-the-bush-tax-cuts-working
1.4 million jobs were added in the nine months after August 2003 (the 2003 tax cuts were signed into law in late May 2003).
Because Lord God v2.0 simply said so. You are too puny to deserve details. For speaking up, no more gruel for you. Here, have some nice tasty dirt instead. Full of vitamins and grown with Clean Energy!!
Funny, coming from the guy who loaded up a .44 Magnum with six shots, spun the wheel, held it to the head of the American economy and pulled the trigger.
The rest of us are not looking for a “magic bullet,” just want to heal ourselves from that shot Obammie the Commie hit us with. Of course, let’s not forget that W. bought the gun and box of ammo and left it on the desk at the Oval Office.
We simply want free markets, which is the only fix to this mess.
Those that over-leveraged will have to go bankrupt and start again.
The rest of us will have to deal with declining asset values and very slow employment.
Obama said this, this way, on purpose..... so that people would say things *just* stupid enough for a Secret Service visit.
VERRRRY clever, Mr. Obama. Verrrrry clever.
I’d really appreciate it if King Obie would just admit that life is above his pay grade and (fill in the blank)...
why ?
as Obama said, a "magic bullet" will be needed to save the economy....what were you thinking ?
http://online.wsj.com/article/SB123249646698200289.html
In normal recessions — the argument goes — an increase in discretionary government spending is unnecessary and even counterproductive. But in the event that a recession becomes a depression, a Keynesian stimulus package might work.
^
The Democrat Economist have know this about Keynesian economic theory, therefore, like the JournaList, let me introduce to you;
the Econolist
Transcript of Pelosi, House Democratic Leaders, and Economists’ Press Conference Following Economic Forum
http://www.speaker.gov/newsroom/pressreleases?id=1414
Speaker Pelosi.
“I am pleased that we had the benefit of the thinking of Dr. Mark Zandi, Dr. Alan Blinder, Bob Kuttner, Heather Boushey, Bill Hambrecht, and Allen Sinai.”
add Christina Romer and Paul Krugman. Did I miss any other Democrat economist?
WH Advisor Jared Bernstein, Treasury Secretary Tim Geithner, National Economics Council chief Larry Summers and the rest of his economics team
^
The EconoList, similar to the JournaList...
You knew damn well what you were saying. So did management
"You must excuse 'No-Jobs', Mister Bond..."
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