December 12th, 2009
06:00 AM ET
3 months ago

Obama: 'Economy is growing again'

Washington (CNN) – President Obama commended the passage of the financial reform bill Saturday, while touting a reprieve in the economic downturn.

"Our economy is growing again," the president said in his weekly radio and Web address. "The flood of job loss we saw at the beginning of this year slowed to a relative trickle last month. These are good signs for the future, but little comfort to all of our neighbors who remain out of a job. And my solemn commitment is to work every day, in every way I can, to push this recovery forward and build a new foundation for our lasting growth and prosperity."

Obama said his recent proposals to provide additional tax cuts and lending for small businesses, and his support of the unemployment insurance extension will help keep the economy moving in a positive direction.

Obama also said Friday's passage of the financial reform legislation will make the U.S. economy less vulnerable to future problems.

"Yesterday, the House passed comprehensive reform legislation that incorporates some of the essential changes we need, and the Senate Banking Committee is working on its own package of reforms," Obama said. "I urge both houses to act as quickly as possible to pass real reform that restores free and fair markets in which recklessness and greed are thwarted; and hard work, responsibility, and competition are rewarded – reform that works for businesses, investors, and consumers alike."

"We can't afford to let the same phony arguments and bad habits of Washington kill financial reform and leave American consumers and our economy vulnerable to another meltdown,' He said.


Filed under: President Obama
soundoff (34 Responses)
  1. Rick McDaniel

    That's such a "crock".

    December 12, 2009 10:11 am at 10:11 am |
  2. Terry from West Texas

    The Conservative Fax Machines are working overtime this morning pumping out the talking points regarding the economy. We can guess what they are saying:

    1. The economy is NOT growing, and it's all Obama's fault!

    2. The economy IS growing, but it would be growing faster if Obama would just let the free market solve all of the world's problems.

    3. The economy MAY or MAY NOT be growing, but Obama took a vacation to Europe to get his undeserved Nobel Peace Prize instead of working for more jobs.

    4. The economy MAY be growing but the deficit is going to crush future economic growth. We have to reduce spending by "the government."

    5. Obama may not have been born in the USA! Have YOU seen his birth certificate? And he MAY be a closet Muslim (he prays five times daily in his closet). We're not saying he is and we're not saying he isn't, but Inquiring Minds Want To Know.

    December 12, 2009 10:16 am at 10:16 am |
  3. stevegee

    The only things growing are the Federal Government, the Deficit, the arrogance of the Democrat-led Congress, and the audacity (impudence) of this Administration.

    November 2010 can't come soon enough - all the Liberal bums will be thrown out of office. Then Obama will be nothing more than a Lame Duck mistake!

    December 12, 2009 10:16 am at 10:16 am |
  4. Slider

    The economy may be growing again, but it isn't growing at the pace of the size of government that you are bringing about, Obama, which makes any growth by the free market forces in our economy moot.

    Maybe you should take a look at what Pelosi and Reid, and your pay czar are doing to stifle any continuance of said growth...

    December 12, 2009 10:16 am at 10:16 am |
  5. War and fiscal conservatism don't go hand-in-hand. Get the GOP out of our government.

    Obama is doing good job overall. Don't vote for any repuke.lick.cons next election cycle.

    December 12, 2009 10:16 am at 10:16 am |
  6. Beverly in NC

    Yes, the economy is growing again. The basic infrastructure is now stable and we are about to reinstitute banking regulations to ensure greed does not bring down our economy again. Consumer protections are being put in place to protect us from unfair credit practices and from risky bank programs and their unfair fees.

    Jobs are slowly returning and people are feeling more optimistic we are going to see an end to this disaster through the efforts of President Obama. He is the People's President and actually cares and understands what real average Americans are going through. The stimulus package, healthcare reform, focus on new energy technology, and now sending TARP funds to small busnesses are all programs directly connected to the People and bettering their lives, starting new growth areas of jobs, and bringing back America as a nation who makes things. not just consumes things.

    We need to tune out the political game-playing Republicans who are constantly negative, full of lies, hate and fear, and keep moving forward without them. The Republican leadership has admitted their only goal is to damage the Democratic Party and President Obama to better their chances of regaining control. They have shown they care nothing about the People, will do nothing for the People and offer no solutions to restore this nation they destroyed. I resent them playing games with my life and voting No on everything to just to be contrary. It's easy to sit on the sidelines and whine and complain and criticize. it takes effort and intelligence to get down to work and offer solutions, ideas, and fix problems – something Republicans are uninterested in doing. How anti-American and inhumane can you be?

    Yes, our nation and our People are going to keep recovering but it will take time because we were in a very deep hole from 8 years of Bush/Cheney neglect and 2 fraudulent wars that almost bankrupted our country.

    Stand strong behind President Obama for he is the only leader who truly cares about the betterment of our lives and is working hard to help as many people as fast as he can. His motives are positive, honorable, and apply to ALL Americans – not just the rich, white ones.

    December 12, 2009 10:24 am at 10:24 am |
  7. Scott, Tucson

    "Our economy is growing again," the president said in his weekly radio and Web address. OH NO! He's starting to believe his own speeches.

    December 12, 2009 10:28 am at 10:28 am |
  8. Chris

    Last year, like most businesses, my company was hurt by the bad economy. They made the announcement that they were putting a freeze on wages and hiring and there would be no bonuses. A few weeks ago we were told because the economy was recovering we'd all be getting our annual Christmas bonus this year and they were starting to hire again and also next year we'd all get our performance raise.

    We were all excited. I talked to one woman who said she needed a new car. She had the money saved up for it, but had been hesitant to make a major purchase because of the bad economy. But with this good news she'd finally go out and do it. Afterwards, I thought having a handful of people like her injecting money back into the system would exactly what was needed to help stimulate the enconomy.

    A few days later I ran into her again and asked if she had picked out a new car yet. She said not only was she not going to buy a new car, she was saving her money even more. What happened is she had gone home, watched Fox News and a seen Republican senator talking about how the economy recovery was nothing but a smokescreen. The pundits on there telling her that the economy under Obama was a disaster and things were going to get worst than the Great Depression, etc.

    Anyone thinking this constrant stream of negativity coming from the Right is just talk and has no real effect is completely wrong.

    December 12, 2009 10:30 am at 10:30 am |
  9. Scott

    I sure hope the President don't let the oil speculators and the oil companies bring America down again. You have to provide good oversight on these people or they will destroy a nation.

    December 12, 2009 10:31 am at 10:31 am |
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