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Obama: 'It is absolutely clear that the economy is not doing fine'
http://firstread.msnbc.msn.com/_news/2012/06/08/12127428-obama-it-is-absolutely-clear-that-the-economy-is-not-doing-fine?lite
Under fire from Republicans, President Obama clarified an earlier assessment of the health of the private sector, explaining that it's "absolutely clear" the economy is not doing "fine."
The president, in response to a question Friday afternoon in the Oval Office, backtracked somewhat on his comments his morning that "the private sector is doing fine."
"It is absolutely clear that the economy is not doing fine. That's why I had a press conference," Obama said.
Obama's original comment drew immediate scrutiny from Republicans; Romney, speaking in Iowa, said the comment showed that Obama was "out of touch."
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The president's initial remarks were intended to portray the relative weakness in public sector hiring -- an outgrowth of spending cuts at the federal, state and local level -- versus the private sector. The drop off in public employment has been a drag on the overall employment picture; the economy added just 69,000 jobs last month, a number that was so low, in part, because of anemic public sector hiring.
A variety of Republicans pounced on the comments nonetheless, proclaiming Obama as disconnected from economy, the central issue in this fall's election.
The president used the opportunity to take a shot at Romney and those Republicans.
"You know, and what I'm interested in hearing from Congress and Mr. Romney is what steps are they willing to take right now that are going to make an actual difference?" Obama asked. "And so far, all we've heard are additional tax cuts to the folks who are doing fine, as opposed to taking steps that would actually help deal with the weaknesses in the economy and promote the kind of economic growth that we would all like to see."
Under fire from Republicans, President Obama clarified an earlier assessment of the health of the private sector, explaining that it's "absolutely clear" the economy is not doing "fine."
The president, in response to a question Friday afternoon in the Oval Office, backtracked somewhat on his comments his morning that "the private sector is doing fine."
"It is absolutely clear that the economy is not doing fine. That's why I had a press conference," Obama said.
Obama's original comment drew immediate scrutiny from Republicans; Romney, speaking in Iowa, said the comment showed that Obama was "out of touch."
Advertise | AdChoices
The president's initial remarks were intended to portray the relative weakness in public sector hiring -- an outgrowth of spending cuts at the federal, state and local level -- versus the private sector. The drop off in public employment has been a drag on the overall employment picture; the economy added just 69,000 jobs last month, a number that was so low, in part, because of anemic public sector hiring.
A variety of Republicans pounced on the comments nonetheless, proclaiming Obama as disconnected from economy, the central issue in this fall's election.
The president used the opportunity to take a shot at Romney and those Republicans.
"You know, and what I'm interested in hearing from Congress and Mr. Romney is what steps are they willing to take right now that are going to make an actual difference?" Obama asked. "And so far, all we've heard are additional tax cuts to the folks who are doing fine, as opposed to taking steps that would actually help deal with the weaknesses in the economy and promote the kind of economic growth that we would all like to see."
I think everyone needs to keep an eye on how much GM (by itself, aside from our government) is involved with and in China. There are 11 factories called "joint ventures" by the CEO of GM.....
Don’t get me wrong, I’m impressed that GM is headed in the right direction but GM is still in the Red. Shuffling loan money to pay Bills may look good on the surface but the reality is, you still owe the money. The articles are endless but this youtube clip pretty much sums it up.
http://www.youtube.com/watch?v=SOaS2SymjQ4
http://www.youtube.com/watch?v=SOaS2SymjQ4
http://www.toledoblade.com/Automotive/2012/02/17/General-Motors-posts-record-profit-of-7-6B.html
Actually GM is making huge profits and huge sales. Top seller I think I heard. And as far as the presidents remarks. I watched and listened when he made that speech. Yes, they did spin and distort.
The President urged Congress to pass his jobs plan, noting that much of the job creation we've seen has been in the private sector. Remember, this is the guy who came into office in the midst of an economic crisis and helped turn it around to an economy that has seen 27 months of private sector jobs growth in a row, with 4.3 million jobs. The President said that while we still have more work to do in the private sector, it's doing fine compared to the public sector.
The reference to the public sector was how the red states basically came in axing public sector jobs and throwing them on the unemployment line....Didnt help the job numbers at all. Amazing how they pounced and distorted it tho. not unusual.
The President urged Congress to pass his jobs plan, noting that much of the job creation we've seen has been in the private sector. Remember, this is the guy who came into office in the midst of an economic crisis and helped turn it around to an economy that has seen 27 months of private sector jobs growth in a row, with 4.3 million jobs. The President said that while we still have more work to do in the private sector, it's doing fine compared to the public sector.
The reference to the public sector was how the red states basically came in axing public sector jobs and throwing them on the unemployment line....Didnt help the job numbers at all. Amazing how they pounced and distorted it tho. not unusual.
Where did GM get the money from to pay the Government back? Oh I forgot, they got the money from the Government to pay the Government back.
Wow! Republicans know how to spoin things huh?!...This guy saved our economy from going into the $hiter. He bailed out the auto industry, they paid their loans back and GM is now #1 again. IF the right would stop being so dumb, the healthcare law would actually save us money in the long run. We could have ended up in a depression, he saved us from that. The stimulus should have been more. But the party of NO killed that.
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