LayoffBlog.com

April 14, 2009

Obama warns there will be “more job loss, more foreclosures and more pain”

Filed under: economy,Obama — 7macaw @ 8:20 am
Tags: , , ,

President Obama today sought to temper recent optimism about an economic recovery, warning that the “hard times” will not end this year and there will be “more job loss, more foreclosures and more pain” before the recession ends.

While warning of future economic hardship, Obama also touted the encouraging signs in the economy as springing from the “extraordinary action” of his administration, including the $787-billion economic stimulus legislation, that he said have helped spur consumer demand and restore the flow of credit vital to businesses.

Source: LA Times

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