President Obama went overseas for a few days and the economy started showing signs of recovery. Gee, who knew? Now if only he would just step back and let the economy take care of itself. But no, that’s not to be.
President Barack Obama says the economy is starting to show “glimmers of hope.”
Obama commented Friday after meeting with members of his economic team, including Treasury Secretary Timothy Geithner (GYT’-nur), economics adviser Larry Summers and Christina Romer, chairman of the White House Council of Economic Advisers.Obama said he’s starting to see things get better. But at the same time he cautioned that the economy remains under “severe stress.”
Obama said his administration will be taking additional steps in the next few weeks to help improve the business climate.
He said that he and his advisers discussed the stability of the financial system, the housing market and a program to help banks clear their books of the bad assets that holding up new lending.
Oh boy, this can only mean he plans to spend billions more of borrowed dollars that we, our kids and our yet to be born grandkids get to pay back.
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