Obama tempers economic news with caution on jobs
Obama tempers economic news with caution on jobs
By DARLENE SUPERVILLE (AP) – 8 hours ago
WASHINGTON — President Barack Obama on Saturday tempered excitement about a growing economy with a sober outlook that more people will lose their jobs. He called that a heartbreaking reality and cautioned that even a burst of upbeat news “does not mean there won’t be difficult days ahead.”
Obama’s straddle served to set expectations for a nation emerging from recession but anxious for an economic security that has not nearly returned.
The good news of the week: The economy is on the rise for the first time in more than a year. Fro m July through September the economy grew by 3.5 percent, the strongest uptick in two years. Obama called the development no cause for celebration, but a welcome sign after so many months of distressing news.
“While we have a long way to go before we return to prosperity, and there will undoubtedly be ups and downs along the road, it’s also true that we’ve come a long way,” Obama said in his weekly radio and Internet address. “It is easy to forget that it was only several months ago that the economy was shrinking rapidly and many economists feared another Great Depression.”
Yet the economic indicator that matters most to the majority of families — stable, solid employment — is still lagging.
Unemployment hit a 26-year high of 9.8 percent in September, and the October report due in the coming week could show it topping 10 percent.
via The Associated Press: Obama tempers economic news with caution on jobs.
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If it were not for “Government Spending”, GDP would have contracted…….
The continued contradictions coming from this White House demands that we force the legislative branch of government to put aside party politics and save this country from the perilous activities that are being proliferated in too many dangerous ways by too many dangerous people.
The economy is a joke. The stimulus did not work and it is evident. Numbers here, numbers there, but the outcome is still the same. No jobs yet. Why, the money should have went to small business in the form of tax breaks and incentives to produce “hiring”. Real simple. Right now, the people with $$ are taking the advantage of the tax system to make a buck because in 2011 it (tax increases) are going to take affect. This is why there is a small bump in the economy as we speak. Within 9 months…..back to the recession. Putting a couple hundred bucks into the taxpayers hands doesn’t do nothing for the economy but pay bills. People want jobs, long term jobs so they can feel safe to buy into debt. Stimulus money will NOT work Mr. President………except to buy the votes for an agenda at your present time.