President Obama Addresses the Economy at Press Conference

President Obama Addresses the Economy at Press Conference

President Obama says that lawmakers need to get to work on job creation and understand that both sides must make difficult choices in debt reduction negotiations.

Published June 29, 2011

In his opening remarks at a Wednesday morning press conference, President Obama said that the nation’s economic challenges will not be solved overnight, but there are plenty of things that Congress can do immediately that would significantly boost job creation. He said that his administration is reviewing regulations that place unnecessary burdens on businesses and is working with the private sector on getting finances to businesses that want to grow and expand. Obama also pointed to a partnership that the administration has launched with community colleges and businesses that will enable 500,000 workers to be trained in the skills needed to work in manufacturing jobs across the nation.


“There are also things that Congress could do right now that will help create good jobs,” he said, citing a bill pending in Congress that would create construction jobs rebuilding roads and bridges and trade agreements that he said would save tens of thousands of jobs.


The president also addressed the impasse between congressional Democrats and Republicans over the federal budget and raising the country’s debt limit. He said that both sides are going to have to make tough decisions and painful cuts, but it would be unconscionable to allow millionaires, billionaires and corporations to enjoy unnecessary tax cuts and loopholes while eliminating student financial aid, food safety inspections and other critical services.


“We can’t get to the $4 trillion in savings that we need by just cutting the 12 percent of the budget that pays for medical research, education funding and food inspectors and the weather service. And we just can’t do it by making seniors pay more for Medicare,” he said.


Written by Joyce Jones


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