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Obama: No magic bullet for economy

08-30-2010 11:31 BJT

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President Barack Obama says the US economy is expanding but not at a robust enough pace. He warns there's no "magic bullet" that will fix its problems.

On Sunday, Obama said his administration had anticipated the batch of grim economic data over the past few weeks. But the president gave little indication of any new proposals that might be unveiled in the near future. Instead he urged Congress to pass some of his existing proposals to spur lending and give tax breaks to small businesses.

Experts say Obama faces a dilemma as he tries to reassure Americans about the economy without appearing to be out of touch with frustrations.

Editor:Xiong Qu |Source: CNTV.CN

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