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This Article is From Nov 04, 2010

Economy stuck in neutral, admits Obama

Economy stuck in neutral, admits Obama
Washington: US President Barack Obama has dismissed the charges that his government's economic policies are taking the US backward, saying the economy is instead growing.

"It would be hard to argue that we're going backwards. I think what you can argue is we're stuck in neutral. I think we are not moving the way we need to make sure that folks have the jobs, have the opportunity, are seeing economic growth in their communities the way they need to," Obama said.

The President said when he assumed office two years ago, the economy was in a free fall. "The economy is growing. We've seen nine months of private-sector job growth."

"That's going to require Democrats and Republicans to come together and look for the best ideas to move things forward," he said in response to a question at a news conference here.

"The American people understand that we're still digging our way out of a pretty big mess. So I don't think anybody denies they think we're in a ditch. I just don't think they feel like we've gotten all the way out of the ditch yet," he said.

"It will not be easy, not just because Democrats and Republicans may have different priorities, as we were just discussing when it came to how we structure tax cuts, but because these issues are hard. You know, the Republicans throughout the campaign said they're very concerned about debt and deficits. Well, one of the most important things we can do for debt and deficits is economic growth," he said.

"So what other proposals do they have to grow the economy? If, in fact, they're rejecting some of the proposals I've made, I want to hear from them what affirmative policies can make a difference in terms of encouraging job growth and promoting the economy because, you know, I don't think that tax cuts alone going to be a recipe for or the kind of expansion that we need," he argued.

"What we're going to need to do and what the American people want is for us to mix and match ideas, figure out those areas where we can agree on, move forward on those, disagree without being disagreeable on those areas that we can't agree on.
If we accomplish that, then there will be time for politics later. But over the next year I think we can solidify this recovery and give people a little more confidence out there," Obama said.

The President said he has been willing to compromise in the past and will do so in the future. The energy issue being one of them, he noted.

"We were able over the last two years to increase, for the first time in 30 years, fuel-efficiency standards on cars and trucks. We didn't even need legislation. We just needed the cooperation of automakers and auto workers and investors and other shareholders. And that's going to move us forward in a serious way," he said.

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