Obama dismisses 'double-dip' recession threat

[defendandprotect]

Obama dismisses 'double-dip' recession threat

by Stephen Collinson Stephen Collinson – 1 hr 53 mins ago
WASHINGTON (AFP) – US President Barack Obama Tuesday dismissed fears of a plunge into a "double-dip" recession and warned against "panic" over dismal economic data that is beginning to cloud his reelection hopes.

In a news conference with German Chancellor Angela Merkel, Obama responded to signs the recovery may be slowing and sought to assure "skittish and nervous" investors and voters that better times lay ahead.

"I am not concerned about a double-dip recession," Obama said, empathizing with people who were frustrated that growth had not been unleashed more quickly.

"I'm concerned that the recovery we're on is not producing jobs as quickly as I wanted to happen," he said, adding there was "enormous work to do" to strengthen the recovery after the worst recession in decades.


http://news.yahoo.com/s/afp/20110607/ts_alt_afp/useconomypoliticsobama_20110607172835

[Angry Dragon]

1. Some comments

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4875908

[defendandprotect]

6. Thanks -- MODS should combine the threads --

Or eliminate this one -- whichever -- :)

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4875908

[Eagle Mall]

2. As well he should.

[robdogbucky]

3. "Prosperity is just around the corner"

Herbert Hoover, 1932

[JoePhilly]

4. He should dismiss it ...

Same claims were made last June when the DOW hit 9800 and unemployment hit 9.5%.

Folks on DU have been predicting the double dip almost since the day Obana took office.

Which is one of the reasons I don't look to DU for investment advice.

[Tierra_y_Libertad]

5. Maybe he should toss in a chorus of "There'll be in the sky when you die."

Or, "Everything's coming up Roses".