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Obama: Economy needs more work

08-19-2010 08:39 BJT

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US President Barack Obama spoke from the state of Ohio, trying to show voters he shares their concerns about the economy, health care and social security.

In particular, he points out that the government must tackle the deficit without hurting the economic recovery.

U.S. President Barack Obama says that the United States must tackle its long-term deficit without hurting the economic recovery, which has been slowed down by the weak housing market.

Barack Obama, US President, said, "We are also going to have look at how we get control of our deficit the key is to make sure we do so in a way that does not impeded recovery."

Obama was speaking to a group of about 30 voters at a home in Columbus, Ohio as part of a three-day swing through important electoral states to tout his economic policies and raise money for Democratic candidates ahead of the November 2nd elections.

The U.S. budget deficit is expected to reach $1.47 trillion for fiscal year 2010. Republicans on Capitol Hill have balked at plans to stimulate the economy, citing the record deficit.

U.S. growth slowed in the second quarter, sparking fears the country might suffer a double-dip recession after climbing out of the worst economic slump since the Great Depression.

Obama says housing oversupply is obstructing the recovery.

Barack Obama, US President, said, "The housing market is still a big drag on the economy as a whole .It is going to take some time for us to absorb this inventory, that was really too high."

The trip is Obama's ninth to Ohio -- always an important swing state in U.S. elections -- since becoming president.

The prospects for Obama's fellow Democrats to hold their majorities in the U.S. House of Representatives and Senate in November are complicated by fears that the country may be on the brink of a double-dip recession, with unemployment at 9 and a half percent.

 

Editor:Zhang Pengfei |Source: CNTV.CN

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