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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: All

5....4...3...LOL! Just waiting for the post pulling fairy to come along....


81 posted on 08/29/2010 7:09:57 PM PDT by ladyvet (WOLVERINES!!!!!)
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To: NormsRevenge
It sure isn't the private sector that is growing...


82 posted on 08/29/2010 7:11:13 PM PDT by HangnJudge
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To: griswold3

Why they think a tax credit is worth anything to a business that just wants customers is beyond me.


83 posted on 08/29/2010 7:11:41 PM PDT by skr (May God confound the enemy)
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To: NormsRevenge
Any "Growth" is in the Government employment...


84 posted on 08/29/2010 7:12:51 PM PDT by HangnJudge
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To: NormsRevenge

85 posted on 08/29/2010 7:13:42 PM PDT by HangnJudge
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To: NormsRevenge
And non-military durable goods have been tanking...


86 posted on 08/29/2010 7:15:42 PM PDT by HangnJudge
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To: NormsRevenge

Obama Fail


87 posted on 08/29/2010 7:18:44 PM PDT by rod1
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To: NormsRevenge

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”


88 posted on 08/29/2010 7:20:30 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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To: KTM rider

Id get that one pulled if I were you


89 posted on 08/29/2010 7:23:05 PM PDT by al baby (Hi Mom REMEMBER FREE REPUBLIC IN YOUR WILL. I DID)
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text describing the image
90 posted on 08/29/2010 7:23:10 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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To: Kozak

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).


91 posted on 08/29/2010 7:24:04 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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To: elpadre
excuse me! please provide details Mr. President! Certainly you would not engage in fabrications - again?? better known as lies??

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!!

92 posted on 08/29/2010 7:25:52 PM PDT by kromike
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To: NormsRevenge

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.


93 posted on 08/29/2010 7:26:04 PM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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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.

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.

94 posted on 08/29/2010 7:26:13 PM PDT by Lazamataz ("We beat the Soviet Union, then we became them." Lazamataz, 2005)
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To: al baby

I’d really appreciate it if King Obie would just admit that life is above his pay grade and (fill in the blank)...


95 posted on 08/29/2010 7:26:15 PM PDT by gov_bean_ counter (Sarah Palin - For such a time as this...)
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To: al baby
"Id get that one pulled if I were you"

why ?

as Obama said, a "magic bullet" will be needed to save the economy....what were you thinking ?

96 posted on 08/29/2010 7:28:52 PM PDT by KTM rider ( ..........tell me this really isn't happening ! !)
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To: Paladin2

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...


97 posted on 08/29/2010 7:29:17 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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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.

Just words - more promises he cannot keep. Why do 40+ % still say they approve of his performance????

From Tuesday, June 03, 2008 -
"....generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal; this was the moment when we ended a war and secured our nation and restored our image as the last, best hope on Earth

He sold himself as the won (to fix all the GWB messes).
98 posted on 08/29/2010 7:29:57 PM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: KTM rider

You knew damn well what you were saying. So did management


99 posted on 08/29/2010 7:31:01 PM PDT by al baby (Hi Mom REMEMBER FREE REPUBLIC IN YOUR WILL. I DID)
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To: Ghost of Philip Marlowe
Every time I think of Obama golfing, I think of the old James Bond movie "Goldfinger".

"You must excuse 'No-Jobs', Mister Bond..."


100 posted on 08/29/2010 7:36:09 PM PDT by meyer (Our own government has become our enemy,...)
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