Obama expresses concern over a slowing economy
Experienced U.S. economists worry about America's lagging financial position, in response to Obama's administration and their inability to boost the economy at a pace fast enough to satisfy angry American consumers. People would like to see Obama turn the economy around and provide more jobs and lower the gas prices before citizens start to take matters into their own hands. Obama's telling his constituents in a "candid" talk today with German Chancellor Angela Merkel that he's "concerned about the slowing economy but that he's sure we won't have a double dip recession." At the same time the president's faced with high percentages in economic spending, low figures in overall recovery and his upcoming campaign; which is still not giving him the upper edge showing that voters may prefer Mitt Romney as a stronger candidate that the public likes. A recent poll picks Obama and Romney as steady opponents both receiving 49% of the poll votes in a 2012 mock election poll. "The poll finds that Obama and former Massachusetts Gov. Mitt Romney are tied among all Americans in a hypothetical race for president." Romney may still have the upper edge among registered voters and this next year promises to be eventful based on the problems our citizens are experiencing nationally. The candidate that gives America stronger financial planning and solid answers to our problems will most likely succeed. Many political officials feel that Obama is slanted towards socialistic ideas and they seem to want to put the Republicans back in office to create more capitalism again. Corporate America seems to be hurting with Obama's policies. Other voters feel that Obama should continue working slow and steady and if the national unemployment average decreases and the economy starts to pull upwards then, many voters may try to keep Obama in office. Some still like his methods of spending and don't see a problem with the decisions he makes. Obama just signed off on $3 billion dollars out of the government's budget and gave it to Iraq, as the last 50,000 soldiers are expected to pull out permanetly from that war by the end of the year. To some this figure is over-inflated and Americans want what's left of our budget and the money we do have to stay here in this country instead of sending it overseas. Only time will tell who the next nominees will be for president but if the economy doesn't pick up fast enough then, these future candidates may have a bigger battle between themeselves to put out the best plan possible that could increase the overall net worth of Americans and decrease national expenditure. This might be one way to turn the clocks in favor of the next U.S. presidential nominee. U.S. economists concerned about the slowing economy do agree that intervention is necessary before critical deficits create a situation that decreases the value of the American dollar to its lowest point in history. Strong competitors with foreign imports may tilt the scale in favor of the candidate who can keep our money here inside America and create more manufacturing exports and economic boosts to our overall National Gross Products (GNP).
With few options at hand and his poll numbers sagging, President Barack Obama expressed concern Tuesday about the sudden slowdown in the economy but said he is not worried about a second recession and the nation should "not panic."The president spoke about the new economic trouble in detail for the first time since a report late last week showed job growth had slowed sharply in May. He tried to reassure Americans worried about high unemployment and expensive gas that the nation is on a slow, if not steady, path to recovery."I am concerned about the fact that the recovery that we're on is not producing jobs as quickly as I want it to happen," Obama said at an appearance with visiting German Chancellor Angela Merkel. "We don't yet know whether this is a one-month episode or a longer trend."
“I am concerned about the fact that the recovery that we’re on is not producing jobs as quickly as I want it to happen,” Obama said at an appearance with visiting German Chancellor Angela Merkel. “We don’t yet know whether this is a one-month episode or a longer trend.” Either way, there appears to be little Washington can do about it. Federal Reserve chief Ben Bernanke, speaking in Atlanta on Tuesday, acknowledged the economy has lost momentum but said nothing to suggest the Fed was about to take any bold new action to further shore it up. And with lawmakers fighting over the U.S. budget deficit and long-term debt, there is no political appetite for a second major federal stimulus bill like the one passed by Congress in 2009.
National Gross Products (GNP)