Obama: Europe turmoil threatens U.S. economy
June 8th, 2012
10:44 AM ET
6 years ago

Obama: Europe turmoil threatens U.S. economy

(CNN) - The threat of further economic turmoil in Europe threatens the U.S. economy, President Barack Obama said Friday in urging European leaders to enact plans to stabilize their economies.

Congress should adopt a jobs plan and other economic legislation to help counter economic "headwinds" from Europe holding back U.S. economic recovery, Obama said.

The United States will conduct "thorough investigations" into the leak of classified information, Obama said, making his first public comments on the controversy since several members of Congress called for an independent counsel to investigate.

"The notion that my White House would release classified national security information is offensive," Obama said.

Watch Obama's statement here.

Filed under: Economy • President Obama • White House
soundoff (27 Responses)
  1. Cheryl Jefferies

    The only truly MAJOR threat to our economy is Obama!

    June 8, 2012 10:47 am at 10:47 am |
  2. JustenO

    Now he's blaming Europe?

    "The Buck Stops...........not here.........."

    June 8, 2012 10:54 am at 10:54 am |

    Republicans in Congress should have passed the entire jobs bill and not just portions of it. Didn't they run on jobs? It's a dangerous game that they're playing with our economy. But what do they care? They know the FED has measures in place in case the Europe situation gets worse, so they feel like they don't have to govern. Nothing is going to get passed in Washington this year that has to do with creating jobs.

    June 8, 2012 10:57 am at 10:57 am |
  4. S.B. Stein E.B. NJ

    @ Cheryl Jefferies - you haven't been paying attention have you? There is no more just US economy. There is a global economy and any attempt to remove the US from it is going to destroy everything else. We are no longer making our own stuff completely. We trade everything; our grain goes over seas as oil comes in here. Cheap clothes and electronics among other things come from China and other Asian contries. I challenge you to live on only US made, grown or created products... That would mean no grapes from Chile when they are out of season here as an example. What car are you driving? 90% of all normal vehicles have parts that come from overseas.

    I hope that the Europeans can get their act together. Austerity can't be the only thing that gets it done. What is the percentage of tax cheats in countries like Greece and Italy? That could be part of the problem. The people need to accept wage and pension reductions, but everyone including the very wealthy need to pay their taxes.

    June 8, 2012 11:01 am at 11:01 am |
  5. Cheryl Jefferies

    Obama tells CONGRESS to put people back to work?!!!!

    The Republican-controlled House passed over 2 dozen jobs' bills.


    Let me tell YOU something, Obama: RESIGN! BEFORE WE FIRE YOU!

    Then, Congress might be able to get something done!

    June 8, 2012 11:02 am at 11:02 am |
  6. g

    talk to the americans that shipped jobs to china and there off shore banking -treason

    June 8, 2012 11:12 am at 11:12 am |
  7. Critical Thinking

    Now lets be reasonable, why should we expect this President be capable of improving the economic problems in Europe or even in the United States. He has never held an executive position in a large organization. He has never been a Governor of a state. He has never been an owner of a company that has employeed workers and needed to make payroll. So how or even why should we be now SURPRISED that he can not solve these peoblems. Here is anology that might help. Lets say you owned a major league baseball team that finished near the bottom of their division and you wanted to turn thinga around. Would you hire a manager that has no real experience other than he has studied the game and can discuss it in great detail, or would you hire a manager that has a track record of success in both the minor and major leagues? Folks it's time to wake up! We get the government we elect, it's time for BO TO GO!

    June 8, 2012 11:13 am at 11:13 am |
  8. Happy_Days_are_here_again


    Please tell us.

    You Dems missed your chance to put your most successful pres into office when you kicked Hillary (with Bill by her side) to the curb in 2008.

    Bet you make the same mistake in 2012 and 2016.

    Define insanity... Doing the same thing and expecting a different or better result.

    Blame anyone except yourselves.... Well then, you haven't learnt anything.

    June 8, 2012 11:17 am at 11:17 am |
  9. Delusional Democrats Whining Crying Blaming, My Dream Has Come True

    Until the Democrat controlled Senate takes up and votes on the MANY bills (40-60 now?) that have already passed the House, it makes NO sense to pass anymore. Harry Reid, Obama and the Senate Democrats have brought the legislative process to a halt for nearly TWO YEARS. Our elected Representatives in the House have been doing the job we elected them to do, only to be stopped by the Democrats in the Senate and Obama in the Whitehouse.

    The ONLY way to get this country moving forward again is to get the Democrats OUT of control in the Senate and Obama OUT of the Whitehouse. Four more years of their incompetence is unthinkable.

    June 8, 2012 11:20 am at 11:20 am |
  10. food for thought

    What obama policies haven't worked? Congress haven't passed any for jobs, for debt control and or to help recovery. America don't be stupid and believe lies. Obama has tried, but congress (even some Dems) haven't done their job. Congress should lose their jobs in Nov. Congress should be made up of doctors(healthcare), lawyers, educators(education reform) and everyday workers(fair work laws and wages), those are the people who know best what the rest of the country needs. Crime is up throughout the country (not just major cities), small towns have more empty businesses than open ones and education in public schools is terrible. This is not on the president! and for all that think it is, need to take a 9th grade civics class!

    June 8, 2012 11:21 am at 11:21 am |
  11. gurgyl

    what did Romney's Executive experience do is shipping jobs to China? Declaring KB Toys Bankrupt? Before court decry pulling money from the companies? Firing People????Stashing money in Cayman and Swiss????nonsense.

    June 8, 2012 11:21 am at 11:21 am |
  12. DJ

    I feel that today's speech was more to point fingers for political campaigning, than it was to help the people of "this country" understand why they are still struggling to survive.

    June 8, 2012 11:21 am at 11:21 am |
  13. Mikey

    @Cheryl Jefferies – "The Republican-controlled House passed over 2 dozen jobs' bills."

    I don't know if it's two dozen, but every one of those bills had provisions that Boehner and Co knew were totally unacceptable. They put poison pills into every bill to ensure they would not pass. How about actually trying to pass legislation as opposed to playing political theater? Why did they block every part of the Presidents jobs plan (you know the one that liar Romney keeps saying doesn't exist)?

    June 8, 2012 11:23 am at 11:23 am |
  14. rla

    Why are we in a position to be threatened by Europe???? Guess this president again did not have a clue as to long ter decisions especially with the economy GO ROMNEY

    June 8, 2012 11:31 am at 11:31 am |
  15. Patrick from Minnesota

    @ Delusional Democrats Whining Crying Blaming, My Dream Has Come True,

    Where do you get your news from? Fox Opinion? There's a reason all that arbitrary crap your cult leaders in the HOR has been killed; all those bills that would crush the middle class for the benefit of the 1% were completely for political reasons and nothing else. If you want to gain legitimacy on this page, stop getting your education from Glenn Beck and Bill O-Reilly.

    June 8, 2012 11:35 am at 11:35 am |
  16. Delusional Democrats Whining Crying Blaming, My Dream Has Come True

    The threat of further economic turmoil in Europe threatens the U.S. economy, President Barack Obama said Friday in urging European leaders to enact plans to stabilize their economies.
    Now this is quite funny.... Europe's problems are being caused by MASSIVE GOVERNMENT DEBT in socialist European countries. EXACTLY WHAT OBAMA WANTS IN THE USA!!! We have been slowly going down this path for decades and Obama has now put the pedal to the metal to get us there.

    If Obama could have gotten universal healthcare (total government takeover of our healthcare system) pased, he would have done it in an instant. Instead we have nearly as big a disaster looming called Obamacare. Even before it has been fully implemented it is proving to be a disaster and unworkable. The cost of it has already nearly tripled and any talk of "savings" is a joke.

    What Europe and the USA need to do to solve their problems is to GET RID OF THE SOCIALISTS (called "progressive Democrats in the USA). That is the ONLY long term solution to their problems, and ours.

    June 8, 2012 11:38 am at 11:38 am |
  17. Expat American

    Cheryl Jefferies
    Unless you are one of the wealthy minority percentile is this country; Boehner and the GOP’s '2 dozen' so called job bills would most likely hurt you more than help you. Boehner and Co. created these bills with full knowledge that they would never pass. They were designed as political leverage. Who would you blame if these ever did pass? You don't sound as if you would ever blame a Republican. Boehner and Co. don’t care about working people. And McCain wouldn’t have cared too much either.

    June 8, 2012 11:42 am at 11:42 am |
  18. D

    Can Romney give in full detail what his plans are to get America back to work without the mention of tax cuts for the wealthy and deregulation? The same thing happened under Bush and look how that worked out.

    June 8, 2012 11:47 am at 11:47 am |
  19. rob

    Hey Mikey,

    The way it works is the house passes bills and sends them to the Senate. The Senate works up its own version and then the two groups get together in a conference committee to iron out differences and then it goes back to the respective bodies for votes. If passed, the bill goes to the President to either sign or veto.

    The elections in 2010 was a historic landslide for the republicans. They were elected to pass the kind of bills they did. The problem is the SENATE DEMOCRATS led by Harry Ried and the White House led by President Obama. All the liberal news media and pundits place blame at "Congress", ignoring the fact that a president is the only nationally elected leader inthe Federal Govt. His job is to lead !! His job is to weigh the current political reality in the Congress and create consensus to get things done PERIOD. In this President Obama has failed.

    We need a strong leader. Nov. 6, can't come fast enough.

    June 8, 2012 11:48 am at 11:48 am |
  20. cali girl

    If you look at the stocks every day they go down is another day that Greece is in the news. Traders and the investors are not dummies, so saying this is the US fault is not the case.

    June 8, 2012 11:51 am at 11:51 am |
  21. tibs

    Europes problems are the best thing for us right now. People are buying dollars as our economy appears to be better off than Europe. That is a temporary situation though, and our economy is certainly no better than Europe.

    The idea that the government can just make jobs by spending money it doesnt have is a joke. Why dont we all just work for the government? We can all dig holes and spit at the moon and the gov will just create the money to pay us.

    The more government tries to do the "help" the economy the worse we will be. We HAVE to take the recession that has been trying to come for years. Delaying the inevitable will only make our situation worse.

    June 8, 2012 11:51 am at 11:51 am |
  22. Darrell

    Cheryl Jefferies and Delusional Democrats Whining Crying Blaming, My Dream Has Come True

    Yes, the economy is recovering slowly. You noticed I used the word recovering. That is because it is recovering from the economic Mess GWB and Republican policies got this country in 2008.

    Today, Obama did not blame anyone: not Bush, not Romney and not Europe. He did state in fact, that, since we are in a global economy, and as other economies, like the ones in Europe, slow down they will influence our recovery. This is not blame, but pure economic fact.

    If you don't understand pure economic facts, then go to your nearest public library and take out books on Macro Economics. In fact, the library may have these books audio editions so that you learn by hearing.

    He also urged Congress to pass his Jobs bill that will employ out of work Americans: Firemen/women, policemen/women, teachers and construction workers. Congress has failed to take up Obama's bill because they are too busy passing anti-abortion bills and bills on light bulbs.

    By the way, The Republican jobs bill have nothing to with actually creating jobs. Instead, the focus on de-regulating EPA and promoting other pro-business initiatives that are not designed create jobs. Again, just the facts.

    June 8, 2012 12:04 pm at 12:04 pm |
  23. vic , nashville ,tn

    @Cheryl Jefferies
    To improve the economy we have to educate people like you

    June 8, 2012 12:10 pm at 12:10 pm |
  24. New Age Independent

    Will Obama EVER accept responsibility for his policies? He appears to have no problem passing the blame to just about anyone! These are not the actions of a leader.

    June 8, 2012 12:14 pm at 12:14 pm |
  25. rob

    BTW CNN readers....

    Did any of you know about the testimony of Eric Holder in Congress yesterday about Fast and Furious? Did CNN tell you that along with the victory of Gov Walker in Wiss. the 2nd and third largest cities in California voted to curtail public union pensions and bennefits so they would'nt go bankrupt?

    Didn't think so. CNN does not report all the news.

    June 8, 2012 12:18 pm at 12:18 pm |
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