Filed under: News
From the Huffington Post:
President Barack Obama insisted Tuesday that the country is not at risk of slipping into a double-dip recession, but he conceded he does not know whether a sudden slowdown in job growth is a blip or an indication of a longer, more worrisome trend. The president said the nation is on a solid but uneven path to recovery and the key is to "not panic."
"I am concerned about the fact that the recovery that we're on is not producing jobs as quickly as I want it to happen," Obama said at a joint news conference with visiting German Chancellor Angela Merkel. "Obviously we're experiencing some headwinds."
Obama spoke amid a wave of short-term negative economic news, including a sharp drop in the number of jobs added in America in May after employment growth had shown strong signs for three straight months. Obama said the economy is rebounding well from a disastrous blow dating to 2008 even though millions still endure hard times. He promoted continuing steps already taken, like tax breaks for business investment, and his familiar longer term agenda of debt reduction and spending on education, infrastructure and energy research.
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