President Obama on Friday lauded new jobs numbers showing a slight decrease in the unemployment rate as the latest sign that "that the worst may be behind us."
"Though we lost 247,000 jobs in July, that was nearly 200,000 fewer jobs lost than in June, and far fewer than the nearly 700,000 jobs a month that we were losing at the beginning of the year," he said in the White House Rose Garden.
"Today, we're pointed in the right direction," the president continued. "We're losing jobs at less than half the rate we were when I took office."
He went on to trumpet his administration's efforts to help the financial system, reduce home foreclosures, improve the flow of credit, rescue the economy from "catastrophe," and "build a new foundation for growth."
The president then shifted into a defense of the stimulus package, about which he said "there's a lot of misinformation." He said the package has meant tax relief for families and small businesses, expanded unemployment benefits and cheaper health insurance for families looking for work.
Mr. Obama also pointed to "the largest new investment of infrastructure in America since Eisenhower built the interstate highway system back in the 1950s."
"…two-thirds of the Recovery Act have helped people weather the worst phase of this recession, while savings jobs and stabilizing our economy," he said. "The last third is dedicated to the vital investments that are putting people back to work today to create a stronger economy tomorrow." - CBS News Story
The key word is might. Might be behind us.
The question is, what happens to the economy and everyone when inflation takes over? When we are called upon the debt that the Obama Administration is creating?
His goal is to be long gone from office when that happens. He will continue to blame it on Bush. Which is quite the lame excuse at this point. Democrats have controlled the Legislature for going on 3 years and they did nothing. You can't just blame the President when his hands are tied.
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