WASHINGTON (AP) — President Barack Obama said Tuesday night his attempts to lead the nation out of economic turmoil are beginning to yield results, and toned down his criticism of bonuses to executives at bailed-out AIG. At the second prime-time news conference of his presidency, Obama also cast his budget — now under review in Congress — as essential if the economy is to recover. The tax and spending plan “is inseparable from this recovery because it is what lays the foundation for a secure and lasting prosperity,” he said. Briefly reviewing the steps his administration has taken to date, he said teachers and others have jobs today because of the economic stimulus measure that Congress passed, and the nation is “beginning to see signs of increased sales and stabilized housing prices for the first time in a long time.” At the same time, he said full-fledged recovery is months away, and he added, “It will take patience.” The news conference came at a pivotal, early moment in Obama’s young presidency, with Democrats in Congress readying budget proposals that will largely determine how much of his first-term agenda will be passed, Treasury Secretary Timothy Geithner churning out near-daily proposals to solve the nation’s economic crisis and the administration struggling with public and congressional outrage over bonuses paid to executives of bailed-out AIG. Additionally, Obama departs next week for his first European trip as commander in chief, with the global economy a major focus.–Contact The Daily Reveille’s news staff at [email protected]
Obama: plan ‘inseparable’ from US recovery
March 23, 2009