Economy Numbers Moving In The Right Direction

Each week, Ive spoken with you about the challenges we face as a nation and the path we must take to meet them. And the truth is, over the past ten months, Ive often had to report distressing news during what has been a difficult time for our country. But today, I am pleased to offer some better news that while not cause for celebration is certainly reason to believe that we are moving in the right direction.

On Thursday, we received a report on our Gross Domestic Product, or GDP. This is an important measure of our economy as a whole, one that tells us how much we are producing and how much businesses and families are earning. We learned that the economy grew for the first time in more than a year and faster than at any point in the previous two years. So while we have a long way to go before we return to prosperity, and there will undoubtedly be ups and downs along the road, its also true that weve come a long way. It is easy to forget that it was only several months ago that the economy was shrinking rapidly and many economists feared another Great Depression.

Now, economic growth is no substitute for job growth. And we will likely see further job losses in the coming days, a fact that is both troubling for our economy and heartbreaking for the men and women who suddenly find themselves out of work. But we will not create the jobs we need unless the economy is growing; thats why this GDP report is a good sign. And we can see clearly now that the steps my administration is taking are making a difference, blunting the worst of this recession and helping to bring about its conclusion.

Weve acted aggressively to jumpstart credit for families and businesses, including small businesses, which have seen an increase in lending of 73 percent. Weve taken steps to stem the tide of foreclosures, modifying mortgages to help hundreds of thousands of responsible homeowners keep their homes and help millions more sustain the value in their homes. And the Recovery Act is spurring demand through a tax cut for ...

Category:

News & Politics

Tags:

• Obama
• economy
• Recovery
• Jobs

[davfritz]

Improved gdp.... based on what? Road works? Sales of golf carts and cash 4 clunkers etc????

Improvement based of what industry springing up? THERE IS NO RECOVERY. There is every chance we are heading for an economic hollocaust. I sure hope the food supply is maintained.

[Thewiseone99]

I don't believe - nothing that comes out of his mouth . He's trying to get a army ..In 2 year's I was told we would not recognize America

[Aiden057]

I voted for Obama and I don't believe one word of this, why should I -- why should anyone? We have to stop the insanity.

[bigc028282]

Do you really believe this propaganda?