“Recovering from that [Bush-era] body-blow will be uneven… there are going to be times where we are making progress, but people are still skittish and nervous and the markets get skittish and nervous, and so they pull back because they’re still thinking about the trauma of this two-and-a-half years ago,” he said.
Then he suggested the drama-seeking media has a negative role too.
“Economic data that in better times would pass without comment, now suddenly people wonder well are we going to go back to this terrible crisis and all that affects consumer confidence; it affects business confidence; it affects the federal markets,” he said.
However, the White House’s task is to rise above the daily drama, Obama said, as he returned to the standard themes of his stump speech.
The economy is all your fault, America. If you people would just stop losing your jobs, the economy would be fine. I mean, did you look in your other pants?
“And so our task is to not panic, not to overreact, to make sure that we’ve got a path forward as how we make our economies competitive, making sure that we are with dealing with the structural issues and basic fundamentals that will allow us to grow and create a good, sound business environment so America for example, the need for us to get a handle on our debt and our deficit is going to be important. Making sure that our investments in education and clean energy and infrastructure and how we are going to do that.”
That's right, we're not going to do something panicky and ill-thought, like spend a trillion dollars. We're going to do something forward-thinking and robust, which will help us get our debt under control, like spend another trillion dollars.
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