July 2nd, 2009
02:58 PM ET
5 years ago

Obama: Figures show recession slowing, despite job report

Obama says the recession is slowing down.
Obama says the recession is slowing down.

WASHINGTON (CNN) - President Barack Obama on Thursday called the nation's latest unemployment figures sobering, but said the economic recession is slowing.

In a Rose Garden appearance with chief executives of clean-energy companies, Obama noted the average number of job losses in the current quarter has been 400,000 a month, compared to a monthly average of 700,000 in the previous quarter.

"It took years for us to get into this mess, and it'll take more than a few months to get out," Obama said.

Related: Boehner, GOP blasts jobs report


Filed under: President Obama
soundoff (124 Responses)
  1. Kevin B

    Leave it to republicans to create an economic and international disaster, and then demand a democratic president to fix it in six months.

    Just how childish are these GOP types? The cry like fat spoiled babies.

    The economy will begin to turn around next year and watch the GOP types try to rush in and take credit.

    The american public see's through these phonies.......

    July 2, 2009 04:11 pm at 4:11 pm |
  2. Big Al C.

    The republicans just about bankrupted this country and now they are expecting Obama to make it all better in less than five years. When you spend billions in Iraq for 6 years what do you expect it to do for America? The republicans had plenty of money to send over there. When the democrates were asking about our health care and infrastructure. The republicans did not have money for us they had to support a war that had no weapons of mass destruction. They lied to get us in Iraq and then continued to lie to the American people to keep us in Iraq. Now they want to blame Obama for trying to change this mess.

    July 2, 2009 04:11 pm at 4:11 pm |
  3. JB - NYC

    It was Obama that said The stimulus will keep job losses at 8%.. uh... We are @ 9.5% now..

    Great work!

    July 2, 2009 04:11 pm at 4:11 pm |
  4. simp

    People are unbelieveable. It's took us years to get into this mess how in the heck can you clowns expect the President to turn this around in less than 6 months!!!! Are you serious? Give the man a decent amount of time, after all, you idiots put bush in office for a second term and look where that got us.

    All you idiots that keep using the word Messiah you better be careful, it goes to show the level of your intellengence.

    July 2, 2009 04:12 pm at 4:12 pm |
  5. Brent

    Obama needs to grow a pair and push universal healthcare through congress NOW.

    July 2, 2009 04:12 pm at 4:12 pm |
  6. Tim

    TxVet

    A link with even one example of FOX putting a D in front of a disgraced republican's name would be useful, I'll start holding my breath.

    ABC, NBC, the NY Times and others, on the other hand, conspire with the Whitehouse to pull off gala press briefings and town halls. They learned their trade from Dan Rather, who never lets facts get in the way of the truth.

    July 2, 2009 04:12 pm at 4:12 pm |
  7. Bill

    Give me a break the economy started to take a nose dive after the Dems. took control of the house.

    And now you want to throw higher taxes on Americans. You said no higher taxes on people making 250,000 dollars, you are a liar.....

    On the other it will take years to clean up your Socialist agenda..

    July 2, 2009 04:13 pm at 4:13 pm |
  8. Marc

    David – Every economist that still wants to be respected, or has gained a lot of respect since their previsions of a huge deep mess recession turned out to be true, says that the market CANNOT correct itself.
    But you know more than them.
    They also say, and has been saying it for a while, that 'things will get worse before they get better'. Why? Inertia, the economy is way too big and was going way too down for a little amount of time, like more or less a half of an year , to things go back as they were. It's simply impossible to stop the fall and make a U-turn in such a small period of time.
    And I remember, not a long while ago, that everybody was slamming the president when he admitted that this year is going to be hard, very hard for all of us. So yes, unemployement will get worse, it will and it can't be denied.
    Nor it is.

    July 2, 2009 04:13 pm at 4:13 pm |
  9. Bill in California

    WHEN A DIMORAT STARTS lifting their fingers in a speech you can bet it's going to pointed at someone else before its over.

    July 2, 2009 04:14 pm at 4:14 pm |
  10. haren

    It took Reagan three years to get out of the mess.
    And don't forget this mess is created by republican for last two decades.
    as fed chairman said we will be out of this recession by the end of the year.

    July 2, 2009 04:15 pm at 4:15 pm |
  11. Rob

    What have the Republicans suggested as an alternative to Obama's plans? Just more and more tax cuts for the rich. Well isn't that what got us into this mess? Big corportations getting greedy at the expense of the everyday worker because they had more money to burn.

    I understand that people are frustrated about the severity of unemployment and the lack of good jobs out there – but when you get these deep in a recession it takes time for all of the stimulus to work its way through the system. We are talking about billions if not trillions of dollars here.

    Whether you like Obama or not, at least he is working hard at trying to fix this stuff, unlike Bush who spent more time in Texas than in the White House and was more concerned with the rights and well-being of Iraqis than Americans.

    July 2, 2009 04:15 pm at 4:15 pm |
  12. Jeff

    President Obama you are my leader and I will follow you. The right wing Republican hacks can say anything they want to but I simply choose to ignore them. And no I ain't drinking no Obama kool-aid and I ain't no lib. I am a well read very intelligent centrist Independent. We will right our ship despite being previously struck by an iceberg of political, social and corporate corruption the likes of which have never been seen (to this degree) before. Enron, Haliburton, Exxon, Iraq, Made Off, Countrywide, etcetera – you know, we all no the list.

    July 2, 2009 04:16 pm at 4:16 pm |
  13. REF

    when will our messiah quit blaming everyone else??????????? he stll acts like he had no clue that we had a finiacial problem grow up for 4 years as a senator he voted or could have voted on every spending bill in congress maybe he just didnt take time to read it poor bush made mistakes but this moron had the ability to say yea or nay on any law or bill passed bush didnt it has always been a spending problem making promises you know you cant afford why do you think it was so important to get 60 senators in the senate then the republicans could not stop anything during the bush years revenues for the govt went up every year except 2003 the dems could have stopped any spending they so desired but they didnt we have been sold out by them all so you koolaid drinker throw out all the bums

    July 2, 2009 04:16 pm at 4:16 pm |
  14. David

    The President is Right! It too the Bush administration 8 years to spend our $1.5 Trillion Dollar Surplus and then create a deficit of over $1 Trillion, with nothing to show for it but the current depression, massive business failures, two wars, thousands of dead Americans and a beat down GOP.

    But what's not being mentioned is the many businesses who are using this time to reduce staff, only in an attempt to increase profits because the current staff feels lucky to have a job.

    The Free Market is only free if you own your own business. It provides no security for the worker. Greed will bring it down every time.

    July 2, 2009 04:16 pm at 4:16 pm |
  15. Proud Soldiers Mom

    Off topic, but........... Could anyone point me to where I can find interviews with any old friends or family members (other than immediate) from Obama's past? IE- What about his aunt, uncle (sill living in Hawaii), half sister (still living in Hawaii), or room mates of his from college? Did anyone interview his grandmother when she was still alive? If an old friend or family member of mine was ellected president, I would be just beaming, and you couldn't shut me up! Wouldn't that be part of the Vetting process? Anyone? Please tell me where to find the inerviews.

    July 2, 2009 04:18 pm at 4:18 pm |
  16. Melissa

    More hate from the Republicans. Obama is right, if you bothered to actually watch whats been going on with the numbers and connect the dots.

    Look... children... the economy is currently like a cork bobbing in water. Its going up and down and up and down. Thats STILL infinitely better than the plunge that was going on when when Bush left and Obama took over.

    When Bush left it was crashing. Now that Obama has been in office FOR ONLY FIVE MONTHS (don't expect and immediate turn around, children), it has slowed its plunge and is bouncing up and down.

    Soon it will settle. It won't be back up to where it was, it will stay at the same low level for a little while until the water begins to rise again.

    Thats how the economy works, children. Thats what the numbers have been saying.

    If you bothered to watch instead of worship your crooked Republican leaders by licking their boots whenever they demand it.

    July 2, 2009 04:19 pm at 4:19 pm |
  17. concerned

    so MORE DEBT, LESS JOBS.
    what a scam. Stimulus bill, was stimulus for the the democrats backers. When will the obamabots wake up? Obama is a fraud, and a disappointment.
    How about liberal Helen Thomas calling out Obama! Even a lifelong liberal is "shocked" at the manipulation by Obama.

    July 2, 2009 04:20 pm at 4:20 pm |
  18. Commen Sense Reality Check

    Just another thought... .in the past....when things are not going well with an outgoing president and there is a newcomer "celebrity".... those things usually get better quickly....

    However.... in this situation... the opposite has seemed to happen, things have become worse.... what do you suppose that means....?

    July 2, 2009 04:20 pm at 4:20 pm |
  19. Charles

    Recession slowing? Unemployment rates are at a 26 year high, the dollar is worth less, and that overgrown stimulus has done NOTHING (thank you Joe Biden for at least admitted that it hasn't done anything).

    It's time for the country to turn on this administration and vote them out of office in 2012. Perhaps people need to rally behind a third party or a moderate Republican. Democrats ALWAYS spend so much of our money and their arrogance is nauseating. CNN please post this.

    July 2, 2009 04:23 pm at 4:23 pm |
  20. haren

    Some real stupid people are watching Fox news channel.
    When something goes in to planning it takes years before you see any job hiring.
    job does not created as soon as you approve stimulus package.
    And he and states has not spend all of the stimulus money yet.
    STUPID people stop watching FOX channel.

    July 2, 2009 04:24 pm at 4:24 pm |
  21. Mike in MN

    Where are the promised jobs from the JUMP START stimulus? At last count 150,000 claimed created or SAVED. Promised to increase stimulus spending for 600,000 more created or saved over summer. Just two months to go for all those stimulus jobs. Unemployment up to 9.5%. Was not supposed to go beyond 8% with Obama jump start, that was the promise. Jobs report said 79,000 construction jobs were lost in June compared to 48,000 in May. Almost all of Obama stimulus job spending is on construction jobs. Why the large increase in construction jobs lost? The jump start of the stimulus was a joke. Real purpose was to spread out 4 years of pork spending to special interest groups that got Obama and congressional Dems elected. Not about jump starting the economy or creating real jobs across all secters of the economy. Stimulus is nothing short of borowed tax payers money to reward political friends of the Dems. If Obama really cared about jobs he would not be supporting tax increases on business, cap and trade that loads new costs on business and health care reform that includes a mandate on business to provide health care insurance or pay a fine. All more incentive for business to lay off workers or move jobs off shore to avoid all these new expenses.

    July 2, 2009 04:25 pm at 4:25 pm |
  22. Marc

    Kevin in Ohio – Yes they showed a lot of alternative solutions...
    All vague, unsubstantiated and without any real deal proposition except the mantra 'TAX CUT'. Their last attempt was more like a good will intention list, without numbers to back it up. Numbers like how it is going to funded and where the money will go and to whom, those kind of numbers. They showed many alternatives...
    None worth a second look.

    July 2, 2009 04:25 pm at 4:25 pm |
  23. Darren

    I am curious as to why people are so against spending money on a war. If we don't have national security, we don't have an economy/country.

    Also, let's get real, it's been 6 months and Obama has passed a bunch of "transparent" bills that not even the fastest reader could read (ie, stimulus bill was passed in 3 days). Republicans have tried to voice in but everything is rushed that there is no chance. It seems like the government is okay with pushing through a bill that is mediocre, and then mess with it later. Republican or Democrat, that's just stupid, I'd rather take the time and get it right the first time.

    Finally, Obama scares the crap out of people in his speeches.

    July 2, 2009 04:30 pm at 4:30 pm |
  24. European-American (formerly No Incumbents 2010, until some bleeding heart lib stole it)

    Who is doing the figuring?

    July 2, 2009 04:30 pm at 4:30 pm |
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