Obama says worst of Recession is Over!!!

[bobbyw24]

I know it's so--all my unemployed and underemployed friends got Govt jobs paying $90K/yr

YouTube - Kool & the Gang - Celebration

By Ian Swanson - 08/11/10 10:23 PM ET

Wall Street gave a thumbs down to the economy as the Dow Jones slipped into the red for the year.

The Dow Jones tumbled 265 points on Wednesday amid growing worries that the world economy is weakening. The pessimism from traders came one day after the Federal Reserve downgraded its outlook for the economic recovery amid fears of a double-dip recession.

Wednesday's tough day on the markets is the latest piece of difficult news for the White House, which is trying to promote last year's $787 billion stimulus through a series of events it has dubbed the "recovery summer."

President Obama, facing a difficult election environment where his party’s majorities in Congress could be lowered or lost, on Wednesday reiterated that his administration is doing everything it can to turn the economy around.

He also insisted the worst of the recession is over as he signed legislation suspending duties on hundreds of imports. Challenges faced by the nation have been confirmed not only by a steady stream of data since last spring, but through a series of crises in Europe that roiled markets and stoked fears of a double-dip recession earlier this summer.

"So while we have fought back from the worst of this recession, we've still got a lot of work to do," Obama said. "We've still got a long way to go. And I'm more determined than ever to do every single thing we can to hasten our economic recovery and get our people back to work."

Obama, who will meet with his senior advisers on Thursday, touted the tariff legislation as a boon to manufacturing that would ensure U.S. companies would pay less for inputs for their products. He also said it would help U.S. businesses and workers by increasing exports.

But the reaction on Wall Street to the Federal Reserve’s announcement on Tuesday suggests doubts that the economy is headed for a strong recovery. The nation’s economy grew by only 2.4 percent in the second quarter, and the nation only added 71,000 jobs in July.

http://thehill.com/blogs/on-the-mone...fears-continue

[Seraphim]

I know it's so--all my unemployed and underemployed friends got Govt jobs paying $90K/yr

YouTube - Kool & the Gang - Celebration

By Ian Swanson - 08/11/10 10:23 PM ET

Wall Street gave a thumbs down to the economy as the Dow Jones slipped into the red for the year.

The Dow Jones tumbled 265 points on Wednesday amid growing worries that the world economy is weakening. The pessimism from traders came one day after the Federal Reserve downgraded its outlook for the economic recovery amid fears of a double-dip recession.

Wednesday's tough day on the markets is the latest piece of difficult news for the White House, which is trying to promote last year's $787 billion stimulus through a series of events it has dubbed the "recovery summer."

President Obama, facing a difficult election environment where his party’s majorities in Congress could be lowered or lost, on Wednesday reiterated that his administration is doing everything it can to turn the economy around.

He also insisted the worst of the recession is over as he signed legislation suspending duties on hundreds of imports. Challenges faced by the nation have been confirmed not only by a steady stream of data since last spring, but through a series of crises in Europe that roiled markets and stoked fears of a double-dip recession earlier this summer.

"So while we have fought back from the worst of this recession, we've still got a lot of work to do," Obama said. "We've still got a long way to go. And I'm more determined than ever to do every single thing we can to hasten our economic recovery and get our people back to work."
Obama, who will meet with his senior advisers on Thursday, touted the tariff legislation as a boon to manufacturing that would ensure U.S. companies would pay less for inputs for their products. He also said it would help U.S. businesses and workers by increasing exports.

But the reaction on Wall Street to the Federal Reserve’s announcement on Tuesday suggests doubts that the economy is headed for a strong recovery. The nation’s economy grew by only 2.4 percent in the second quarter, and the nation only added 71,000 jobs in July.

http://thehill.com/blogs/on-the-mone...fears-continue

Mr. Obama, does this include allowing prior tax cuts to expire, giving the Federal Reserve unprecedented power over the economy, nationalizing and centralizing huge sectors of the economy? This will help?

[One Last Battle!]

Again?

[Matt Collins]

Where is Baghdad Bob when you need him?

[HOLLYWOOD]

President Obama, facing a difficult election environment where his party’s majorities in Congress could be lowered or lost, on Wednesday reiterated that his administration is doing everything it can to turn the economy around.

"So while we have fought back from the worst of this recession, we've still got a lot of work to do," Obama said. "We've still got a long way to go. And I'm more determined than ever to do every single thing we can to hasten our economic recovery and get our people back to work."

Didn't this AssHat state the Recession was OVER LAST August?

YEAH, RIGHT... Maybe the Granite and Marble Ivory Towers within Washington DC, which these Propagandists hide behind.

[Isaac Bickerstaff]

The worst of the recession is over. On to the depression!

[DamianTV]

Ha ha ha ha ha! Thats about as retarded as the $#@! that our newscasters continually say when they go on and on about "The Economy is showing Signs of Recovery"...

[Matt Collins]

YouTube - Nothing to see here

[Matt Collins]

Nothing to see here, don't look behind the curtain, please move along.

[Aratus]

Finally, maybe... We are out of the proverbial woods?

[timosman]

Finally, maybe... We are out of the proverbial woods?

Thanks Obama.