Friday, June 8, 2012

More Presidential Foot-In-Mouth on Economy and Private Sector

Obama Backs Away From 'Fine' Comment says this about today's remarks by President Obama on the private sector piece of the U.S. economy:

"President Obama on Friday afternoon backed away from his earlier comments that the “private sector is doing fine,” telling reporters that he does not believe the economy is doing fine.

“That’s precisely why I asked Congress to start taking some steps that can make a difference,” Mr. Obama said in brief remarks to reporters during a meeting with the visiting Philippines president.
Republicans had seized on comments Mr. Obama made during an earlier news conference, in which he repeatedly made the point that hiring at private businesses is doing well, while hiring by state and local government is not.

“The private sector is doing fine,” Mr. Obama said at the news conference.
But by later in the day, Mr. Obama had decided to emphasize that he does not believe that the overall
economy is doing fine, as Republicans were trying to suggest.

“Listen, it is absolutely clear the economy is not doing fine,” he said. He suggested that Republicans had misstated his words from earlier in the day.

“I think if you look at what I said this morning, what I’ve been saying consistently over the last year, we’ve actually seen some good momentum in the private sector,” he said. “There’s been 4.3 million jobs created, 800,000 this year alone, record corporate profits.”

He added: “And so that has not been the biggest drag on the economy.”
Mr. Obama said the economy “needs to be strengthened,” adding that “I believe that there are a lot of Americans who are hurting right now, which is what I’ve been saying for the last year, two years, three years, what I’ve been saying since I came into office.”

Summing Up

He said what he said and then later he said what he meant?

I guess that's the story, believe it or not.

Thanks. Bob.

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