World has avoided economic disaster, Obama says
By CHARLES BABINGTON, Associated Press Writer Charles Babington, Associated Press Writer
L'AQUILA, Italy – Lasting worldwide recovery "is still a ways off," President Barack Obama declared Friday, but he also said at the conclusion of a global summit that a disastrous economic collapse apparently has been averted.
Obama said world leaders had taken significant measures to address economic, environmental and global security issues.
"Reckless actions by a few have fueled a recession that spans the globe," Obama said of the meltdown that began in the United States with a tumble in housing prices and drastic slowing of business lending. The downturn now threatens superpowers and emerging nations alike.
Obama urged national leaders to unite behind a global recovery plan that includes stricter financial regulation and sustained stimulus spending.
Whoa. He must have been working without TOTUS--he damn near blamed Barney Fwank. Then again he was probably referring to the evil joooos.
ReplyDeleteI'm so sick of this idiot blaming the housing crash on Bush! This whole damned thing started in '98 or '99 when Clinton demanded programs be developed so that people who have no business buying a house should be allowed to buy a house. I hate liberals!
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