Obama extolls new GDP figures as ‘welcome news’
Published: October 29, 2009
WASHINGTON — President Barack Obama is hailing new figures showing the economy grew at a 3.5 percent rate in the third quarter, saying the country has “come a long way” since early this year.
In remarks prepared Thursday for a small business group, Obama said he believes the new figures are “an affirmation that this recession is abating and the steps we’ve taken have made a difference.“ The economy had shrunk by 6.4 percent in the first quarter.
The president cautioned, however, that “we have a long way to go to fully restore our economy” and recovery from the deepest business slump since the 1930s-era Great Depression. He called the report “welcome news.“
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How about the Jobs? I thought he said the One Trillion Dollars to the debt would create jobs. Where are the jobs, and why is Unemployment at 10%? Obama said he would take care of us and Unemployment would not get above 8% and he would put everyone back to work….
I am really beginning to think, he is drinking his own Kool-Aid.
The only way to revive the economy is the following: adoption of a Wall Street securities speculation tax; repeal of the Taft-Hartley anti-union laws; ending corporate personhood; cutting the bloated vampire bleeding the economy—-the military budget; full single payer health care insurance, not some “public option” that is neither fish nor fowl; taxation instead of credits for carbon pollution; reversal of inflammatory U.S. policy in the Middle East (as in, get the heck out, begin kicking the oil addiction and quit backing the spoiled brat that is Israel.
“Finally, as the economy has begun to strengthen, the import sector rebounded strongly and overtook the increase exports. This resulted in net exports contributing a negative component to GDP for the first time since Q2 2008.“
Which means more junk imported from China for sale at WalMart. Great way to restore domestic employment. Nonsense data if the one shot stimulus hits are removed.
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