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Obama on Economy: 'The Worst May Be Behind Us'
Rachel Slajda | August 7, 2009, 1:36PM
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Hours after the Labor Department said unemployment dropped for the first time since 2008, President Obama said, "The worst may be behind us."
"As we begin to put an end to this recession, we have to think about what comes next," he said. The U.S. "can't go back" to the greed and irresponsibility of the old economy, he said, but needs "a new foundation."
Obama's tone was hopeful, yet stern, saying there is still a "steep mountain" to climb.
"We will not have a true recovery as long as we're losing jobs," he said. "And we won't rest until every American looking for work has a job."
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Dennis D
August 8, 2009 1:52 PM
The economy is rebounding because of the TARP program created by Bush and Paulsen ( Which I opposed). The Stimulus created by Obama has done nothing to help yet Obama gave no credit to Bush and Paulsen and claimed credit for himself. What a dishonest POS.
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CityGuy
August 8, 2009 2:08 PM
Yeah right Dennis. And Cash 4 Clunkers has had no impact (even if temporary) either I suppose?
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PacificGatePost
August 8, 2009 8:16 PM
LET’S NOT BELIEVE THE DOUBLE-SPEAK FROM THE W.H.
Ignoring economic reality is more than simply idiotic. Unemployment is not dropping, and taxes for the middle class are going up.
http://pacificgatepost.blogspot.com/2009/08/obama-middle-class-income-tax-increases.html
…..Keep saving every dime you can for tomorrow.
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DuaneW
August 9, 2009 1:48 PM
state the facts, Dennis
The orginal Paulsen TARP was so open ended it gave the financial institutions complete free rein on taxpayer money with zero oversight! It was the Democratic Congress who had to implement the proper guidelines and oversight. Still, the TARP was strongly opposed by the Republican Congress. Then, the Bush administration poorly administered the money. Obama's admininistration had to clean up the abuses.
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