Bolitics: President Obama Says ‘Don’t Panic’ About The Economy

- By Bossip Staff

Amidst job growth moving at a snail’s pace, insane gas prices that don’t show any signs of decreasing and the price inflation of most consumer goods, President Obama doesn’t want the American public to “panic” about the seemingly stagnant economy.

President Barack Obama insisted Tuesday that the country is not at risk of slipping into a double-dip recession, but he conceded he does not know whether a sudden slowdown in job growth is a blip or an indication of a longer, more worrisome trend. The president said the nation is on a solid but uneven path to recovery and the key is to “not panic.”

“I am concerned about the fact that the recovery that we’re on is not producing jobs as quickly as I want it to happen,” Obama said at a joint news conference with visiting German Chancellor Angela Merkel. “Obviously we’re experiencing some headwinds.”

Obama spoke amid a wave of short-term negative economic news, including a sharp drop in the number of jobs added in America in May after employment growth had shown strong signs for three straight months. Obama said the economy is rebounding well from a disastrous blow dating to 2008 even though millions still endure hard times. He promoted continuing steps already taken, like tax breaks for business investment, and his familiar longer term agenda of debt reduction and spending on education, infrastructure and energy research.

Given the jittery times, a batch of economic data can make people wonder, “Well, are we going to go back this terrible crisis?” Obama said. “And that affects consumer confidence, and it affects business confidence, it affects the capital market. And so our task is to not panic.”

The economy is the overarching issue as Obama heads into a 2012 re-election campaign, and a Washington Post-ABC News poll released Tuesday found that disapproval with how Obama is handling the economy and the deficit has reached a new high.

Obama’s got a little bit of time to level they playing field before the 2012 election but what would you suggest he do to restore voter confidence?

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Comments

  • luchie...

    Keep doing what your doing OBAMA…you definetly have my vote!!!

  • Anti-whites

    I love you Obama we should of been had a BLACK prez!!

  • http://google smh

    Right! That’s why I’m still giving abdul fake numbers for gas, shopping out of car trunks instead of macys, and asking the market mgr if I can put ham and a few other meats on layaway. I work 30 hrs/ three days now, if it gets tighter I’ll start selling dimes.

  • gina

    Ok! Check the stock market …..things are NOT getting better and wont anyway soon! Bring home the troops, close the borders, get out everyones business! You have to stop the internal bleeding and stealing!

  • Yes!

    Man yall shut the F**k up!! The gov Been messed up! And by the way gas prices are lower now than it has been n the last 2 years in middle Georgia! You have my vote Obama! Keep doing what you are doin

  • fabchick

    I agree with everything Gina said. We need to take care of America and Americans first. Get out of these wars, start drilling our own oil, and close our borders. In my sub division half of the houses are empty due to foreclosures. It’s gonna be hard for me to vote for Obama if things don’t change. Sorry just my opinion.

  • white male

    Hopefully we will steal libya and yemen’s oil soon.

  • Juliemango

    Remove the panic. Who pushed the panic button anyway???

  • gina

    Oh well you can always tell who has no assests, or has more wealth than Bill Gates or nothing but a vote to cast! America is behind Obama but he and the democratic and the republican party both promised Americans that they were going to protect our interest, bring home our troops, build and buy American. In July everything ….EVERYTHING WILL INCREASE IN PRICE. FEDREAL STATE AND CITY GOVERNMENT OFFICIALS RAISED TAXES SO HIGH LAST YEAR THAT SOME STATES HAVE SURPLUSES!!!! DID YOU GET.A RAISE? IS YOUR CHECK BIGGER? DID ANY OF THOSE ALLEGED INCOME TAX BREAKS APPLY TO YOU OR YOUR ASSESTS? DID YOUR LIGHT GAS CABLE PHONE OR VARIOUS INSURANCE BILLS GO INCREASE! How much did sales taxes increase in your city? Yes it cost to live! But nobody is giving AMERICA OIL WE ARE PAYING PREMIUM PRICES. YOU CAN’T FIGHT FOR DEMOCRACY FOR PEOPLE THAT DONT WANT IT! ABSOLUTELY NOBODY IN THE MIDDLE EAST WANTS IT! THEY ONLY WANT HELP TO BEAT UP THEIR BROTHERS AND FOR US TO KEEP PAYING FOR OIL. Ok so you guys fight it out and we will buy from the WINNET! WE ARE PAYING PREMIUM PRICES…..NOW SEND HOME OUR TROOPS! NO MORE COFFINS! NO MORE WASTING BILLIONS ….AMERICA CUT YOUR LOSSES..THIS WAR IS SOME VIETNAM
    MESS …..LEAVE THEM TO THEIR OWN DEMISE! WE DONT STEAL OIL WE BUY IT! IF WE DONT BUY IT THEY DONT HAVE CRAP AND WE CAN FORCE PRICE CHANGES!

  • Marquis de Sade

    Gina

    Despite what Obama said about withdrawing the troops from Afghanistan, it probably won’t be happenin’ no time soon, due to Pakistan’s inability to defend itself from the Taliban. Normally, no one would give a shyt about Pakistan, but since they have nuclear weapons, (but a depleted military) the last thing anybody wants is a Taliban-ran Pakistan with nuclear weapons at their disposal…And remember, these aren’t your garden variety “JIHAD, HOLY WAR!” Taliban, these are highly educated, militarily trained Taliban. – Trust, America will always have a “SIZABLE” presence in Afghanistan to protect Pakistan.

  • gina

    De Sade

    They are not doing anything new in the opium trade! Better weapons yes, but every country that has ever been involved acknowledged the BS and left. They have been put on notice by everything European about playing with nukes! No different than when the got the A-bomb! Obama needs to call General Lowell! Did you read his book. Everybody got NUKES..ok 🙂
    You know white folks put a twist on holy war…that Jhud mess only works in the middle east! YOU WILL SEE AMERICA OUT BY 2013….WE ARE BEING BANKRUPT….did you check the stock market lately…..did you see the G fund!!. All of the other fiscal years end in July and sh!t looks crazzy. That’s what’s real…..only the government is allowed to in arrests….THEY DONT HAVE…..OCT 2011 is going to be crazzy!
    The issues in America is alot of people dont have a paycheck to live from paycheck on!

  • loca

    that ninja CRAZY where he at LALA land …..wake up obama!

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