Obama says economy has stabilized

[sabra]

Source: MSNBC

President answers questions from msnbc.com readers, NBC News

President Barack Obama said Wednesday that the economy had stabilized and was beginning a slow recovery, telling NBC News in an exclusive interview that it was now his job to “make sure that ordinary people have some relief.”

Speaking with Chuck Todd, NBC’s chief White House correspondent and political director, Obama answered questions about the economy, health care and unemployment benefits that were submitted this week by readers of msnbc.com.

...

In recent days, the administration has pointed to economic indicators that it says suggest the economy is slowly beginning to recover. For Obama, the challenge is to connect directly with Americans to persuade them to remain optimistic while they wait for that recovery to take hold.

“Obviously, the unemployment rate is still elevated,” he said in the interview. But “you have seen the economy stabilize.”

Still, Obama acknowledged that many Americans were unhappy with the pace of recovery under his $788 billion economic stimulus program, saying the frustrations of people like Jennifer Holderread of Elkhart were “legitimate.”

Read more: http://www.msnbc.msn.com/id/32301569/ns/us_news-the_elkhart_project/

[dhpgetsit]

1. I'll believe it when employment is a healthy 95%

And you don't have people with degrees competing for entry level fast food jobs.

[rantormusing]

10. Thank you

Exactly

[CreekDog]

2. i guess that's good news

but in reality it's still bad news.

[kickysnana]

3. Stabilized into a downward motion or he hasn't a clue (sigh) n/t

[TheWatcher]

4. He is lying. Plain and simple.

The Ordinary People, as he so lovingly refers to us as, have seen times get worse and worse, all throughout the Propaganda Blitz to try to Brainwash us into thinking otherwise that started on March 10th, with Citi telling us about their Phantom Profits that didn't exist, and this Manipulated, Fake, Stock Market Bubble that has been presented to us as God's Superior Indisputable Evidence that a Recovery is afoot.

BULLSHIT, Mr. President.

You may be much smarter, much more human than the last dictator was, but some of us are just not going to fall for it anymore.

Stop Lying.

The country has been sold a Bill Of Goods, and this Bubble is not sustainable. When it bursts, so will what is left of your credibility. At long last, even if it is what The American people cannot bear to hear, or deal with, COME CLEAN about the state of things.

And while you're at it, get rid of Ben, Tim, and the rest of the criminals and get some people that actually want to serve the interests of WE THE PEOPLE, not Goldman Sachs.

[Iowa]

5. +1

:thumbsup:

[ixion]

14. yep, well said.

:applause:

[Oregone]

6. Great! I'm taking all money out of my mattress and putting it into the market

Thanks Obama. Who needs Kramer now?

[WriteDown]

7. I feel better already. nt.

[cufford]

8. Ebs and flows of rising seas

Anyone who believes the constant stream of self-serving happy talk from Washington and Wall Street are blind to the reality right before them.

And for every published media report of some "positive" indicator, there are 10 more "negative" indicators reported right next to it on the page.

Our collapsing economy is kind of like rising seas from global warming. There will be constant ebbs and flows of the tide, but the long term direction of movement is not good.

[timeforpeace]

9. Michael Jackson's condition has stabilized also. Like the economy, still dead.

[daggahead]

11. Shhhh!

Don't tell Fox Noise.

[rantormusing]

12. I really can't believe this

I try to justify supporting him, merely comparing him to Bush is no justification for supporting a person who's going to turn a blind eye to the millions who have lost their careers, savings, and standard of living these last ten years. My only question is will Obama force people to pay their bills in order to prop up the banks, while claiming the economy is coming up Roses.

[defendandprotect]

13. How about the hedge funds/derivatives .. . ??

sorry -- didn't actually look at the article -- back later --

[santamargarita]

15. When does the job market stabilize?

Perhaps those lard ass Wall Street Fascist are back to normal!

[quiller4]

16. My state's ue rate was 9.1 in May, 9.3 in June and is down to 9.0

for July. We had the largest number of new jobs created in one month since February of 2007. The number of names on the out-of-work book at my husband's local is half what it was in April.

Sales tax collections for the month are up slightly and local stores report that Back to School Shopping started somewhat earlier than expected.

We have a long way to climb but we're not falling anymore. I gues that mean we've stabilized.