Obama: Economy will get where it needs to be

NBC News

Brian Williams of NBC News interviews President Barack Obama in New Orleans.

On the economy, President Obama says the recovery is a long-term effort that will pay dividends even if it's painful now. It's hard when you're right in the middle of it, he says.

The interview's over after only about 20 minutes as Brian Williams says he can see aides fidgeting off-camera. The last question is about Iraq and Afghanistan; Obama says he's confident of the policy and the timetables in both countries.

Discuss this post

The economy will recover once he and his congress are out of power. They have run this country right into the ground.

  • 8 votes
Reply#2 - Sun Aug 29, 2010 4:47 PM EDT

Remember who had the Congress for the 2 last years? You know when the you know what hit the walls. I was always told that Congress controls the "pursue strings" and that Congress was DEMOCRAT. Also what about the last 2 years- they never happen? He has really helped us all, hasn't he?

  • 3 votes
#2.1 - Sun Aug 29, 2010 5:30 PM EDT

What kind of tea are you drinking! Nevermind we already know what kind! The kind that twists everyting into political rethoric regardless of facts, The big lie is embraced so that the gulible will believe. ( Look up "the big lie" you'll be disturbed to see who gets credit for it).

The monetary crash came in the last administration, the bailout was initiated in 2007, the H1B epidemic (no it's not a flu strain but it has made America sick) and the export of jobs overseas - financed using corporate tax breaks - began in the Reagenadministration as was the deregulation of just about everything and the ignoring of enforcement on many other fronts, the Iraq war and the fumbled reconstruction were all Duh-b-yeas doing and not only has Cheney's buddies been milking Iraq like a cow, but their hands are dirty in the gulf oil spill as well. You can change your name to Alice and go find a mad hatter to sip with but this ain't never-land!

Obama's biggest failing has been a lack of a very visible world class advisory team of academic economists to advise on a program to recover jobs in the US. With jobs comes earnings, tax revenue and economic revival but not until.

  • 1 vote
#2.2 - Sun Aug 29, 2010 5:36 PM EDT

You think the state of the economy is a result of only 2 years of economic policy? That seems unlikely. Do you know exactly what was done that caused a complete financial collapse in only 2 years? America has become so incredibly short sighted. No long term awareness at all. Amazing.

    #2.3 - Sun Aug 29, 2010 5:37 PM EDT

    bush ran the country into the ground!!!

      #2.4 - Sun Aug 29, 2010 5:54 PM EDT

      It's a RE-peat-the-lie-to-the-PUBLIC-an talking point to keep harping on the financial collapse taking place after the democrats garnered majorities in congress. Bush was still president, with veto power. The demo-majority congress passed no legislation before the collapse which would be causative of it. They got into power too late to have any chance of stopping the crumbling house of cards Bush oversaw for the seven years prior.

        #2.5 - Sun Aug 29, 2010 6:09 PM EDT

        Paul : Did Obama get into power too late to have any chance of stopping the crumbling house of cards?

          #2.6 - Sun Aug 29, 2010 6:29 PM EDT

          Yes, too late to stop the beginning of the collapse, only there in time to shore up the foundation. Bevis, where were you, in a cave? The recession is only declared after twelve consecutive months of economic shrinkage, right at the end of Bush's term. That means the collapse began ten months before Obama took office, and even those numbers are suspect given the false prosperity aspect of the last forty years in this country.

            #2.7 - Sun Aug 29, 2010 7:12 PM EDT

            Why must the President be required to perform acts of god. He can stop an oil-leak a mile under the ocean. He can improve the global economy increasing exports. He can part the seas.

            He could be walking on two legs and breathing the same air as everyone else. Perhaps he's just a man like so many others.

              #2.8 - Sun Aug 29, 2010 9:39 PM EDT

              Glenn,

              The problem is that Obama doesn't realize he's just a man like so many others. This after-all, is the guy whose sole success outside of politics is writing two books about himself, the guy who upon receiving the democratic nomination remarked that it would begin the healing of the planet and stop the rising of the tides.

              Sarkozy remarked something to the effect that Obama's naivety was only surpassed by his narcissism, but due to his narcissism, we would never understand how dangerous his naivety was.

              When you consider the state of the economy, Iran teeing up for the bomb, etc., etc., Sarkozy pretty much summed it up.

                #2.9 - Sun Aug 29, 2010 11:11 PM EDT

                Was it narcissism or just hope for a better tomorrow for all Americans ?

                  #2.10 - Mon Aug 30, 2010 3:18 PM EDT
                  Reply

                  "The Economy will get to where it needs to be." How much lower can it go? did the President read the book, Economy 101 during his vacation to determine what to do to see the economy rise? Maybe he read Prexsident for Dummies instead.

                  come on Obie, show some backbone and develop the plan for those poor folks currently out of work. do your Union Organizor stuff and get people back to work.

                  • 2 votes
                  Reply#3 - Sun Aug 29, 2010 4:49 PM EDT

                  Right Mr. Obama. Wave that magic wand people seem to expect you to pull out of your wizard cape.

                  You must be unaware that since what the President does must be approved by congress, the President requires some help to produce all these magical results you expect. He has not only not been receiving any help, but has been obstructed at every turn. Even when the entire congress agrees with what he is trying to do. Doesn't make any sense to me.

                  You need to do THIS, Mr. Obama, but we will prevent you from doing it and then blame you when you don't. Sounds like a formula for success, doesn't it?

                    #3.1 - Sun Aug 29, 2010 5:46 PM EDT

                    Heartlight3, I know the processes involved in gaining approval by congress, and as you well know, Obama owns the congress with his party in control. The Entitlement Party was accountable for the Stimulus, the takeover of the car and financial services industry, provided perks for the UNIONS, provided funds for those shovel ready projects, passed a failed health care bill that will cost us all, and has obstructed any dialouge other than that that he believes. The GOP hasn;t obstructed, it hasn't been invited to the dance. Did you see any GOP involvement in the formulation of the health care bill? I believe that was done behind closed doors.

                    Hey, the Bush administration was blasted by the Entitlement Party at every turn? Now the Dems villify anything not associated with their thoughts. Why do the progressives fear the mood in the country leading up to the mid-terms?

                      #3.2 - Mon Aug 30, 2010 12:41 PM EDT
                      Reply

                      The economy will get to where it needs to be.....

                      When.....2025?

                      • 2 votes
                      Reply#4 - Sun Aug 29, 2010 4:52 PM EDT

                      Republicans effed it up for 8 years, economy tanks in the last year of Bush, then Obama gets blame. ? Yeah, that makes sense. Hire the Republicans again, America. Let's keep with the plan of corporations being represented and not people-- that'll keep working out great, even better than where it got us now!

                      • 5 votes
                      Reply#5 - Sun Aug 29, 2010 4:55 PM EDT

                      No one is "blaming" Obama for the crash. We were hoping for a leader who instead of playing the blame game would have taken action to set things straight. Bluntly, I believe Obama is not the right man for this very difficult job and from his actions appears to be Bush term III.

                      Further his agendas such as health care, credit card reform etc are so full of holes as to be worthless.

                      Imagine the Exxon Valdiz heading towards the rocks. The old captain had set the course of disaster, and the new ships captain was down painting the engine room, blaming the old captain for what was about to happen, instead of being at the bridge taking ALL possible actions to avert disaster.

                      • 3 votes
                      #5.1 - Sun Aug 29, 2010 5:31 PM EDT

                      GHX

                      Plenty of ignorants are indeed blaming Obama for the crash. Avoid superlatives like nobody and everybody and you'll sound less like Boehner and Dana Perino.

                        #5.2 - Sun Aug 29, 2010 7:18 PM EDT
                        Reply

                        If only I lived in China. I would have a job with a major company working for far less. Export my job, import the third world. More of the same thing...no thanks.

                        • 1 vote
                        Reply#6 - Sun Aug 29, 2010 4:59 PM EDT

                        With unknown 2011 taxes, and unknon healthcare (or fines) is it any wonder that small businesses are letting employees go? With unknown next year cost of doing business, the economy is just where it should be. I worked more in the Summer between college years than Obama worked his entire life.

                        • 2 votes
                        Reply#7 - Sun Aug 29, 2010 5:09 PM EDT

                        I'm not buying that excuse. They need to step up to the plate, grow a backbone, and do their patriotic duty for this country as well. Companies are sitting on record profits and not hiring. Take a chance and hire someone.

                        Say what you will about the stimulus, but there were hundreds of billions in tax breaks, and more tax break packages for small businesses that Congress couldn't pass.

                        • 2 votes
                        #7.1 - Sun Aug 29, 2010 5:20 PM EDT

                        Matt read all those wonderful bills full of unfunded liabilities that fall on the shoulders of the states at the end of the day. Yeah, green jobs are growing like weeds- do you really believe this? The experience of European countries is that because they have to subsidized- for every green job ,we lost 5 regular jobs. He has certainly grown on sector of the economy very well- the public one- thousands of government employees, all in the Union payrolls. They make more than their private sector counterpart and get 80% pension that you and I pay for. Good job Barry!

                          #7.2 - Sun Aug 29, 2010 5:34 PM EDT

                          The companies have money but the demand for their product isn't there. Looking more and more like Mexico.

                            #7.3 - Sun Aug 29, 2010 5:52 PM EDT
                            Reply

                            How profane...his comments are comforting to those out of work, out of food, out of hope.  He's as bad as the Bush family.

                            • 2 votes
                            Reply#8 - Sun Aug 29, 2010 5:10 PM EDT

                            Yep. I believe his thinking during this interview was something like this:

                            "Hey, I just had a real nice vacation, let's not ruin my return with all this talk people without any source of income. The economy is where it needs to be. What does that mean exactly? ummm eerrrrr I don't really have a clue. hahahahahaha... Gawd, the teleprompter guy is really slow here. Hey, when is the next Olympic Games? I want to fly Air Force One to Europe again. That was fun."

                              #8.1 - Sun Aug 29, 2010 6:16 PM EDT
                              Reply

                              Great article in Newsweek regarding where the economy would be now if nothing was done and everything was status quo like the Republicans want. Open your eyes and make sure to vote this November so we don't end up with the depression the CBO sais we would have by now if nothing was done.

                              http://www.newsweek.com%2Fblogs%2Fthe-gaggle%2F2010%2F08%2F26%2Fon-jobs-and-deficits-republicans-are-worse-than-obama.html&h=36338

                              • 2 votes
                              Reply#9 - Sun Aug 29, 2010 5:10 PM EDT

                              So the argument is "IT COULD HAVE BEEN WORSE" the funny part is that there is no way to prove this one way or the other, so no intelligent discussion can be had. This like saying to a accident victim- yes you lost your arms but think is could be worse , it could be your arms and legs! And by the way we are in very deeeeep recession! Yes ,vote this November and remember the Bail-out, the stimulus, the HC reform , the Cap and trade agenda and the maneuvers to give amnesty to illegal immigrants without addressing the legal issues. I hope you vote them out now and in 2012

                              • 1 vote
                              #9.1 - Sun Aug 29, 2010 5:38 PM EDT

                              You are planning to put the badly injured accident victim back in the same car with the same driver that caused the accident, to continue driving. Very smart!!!!

                                #9.2 - Sun Aug 29, 2010 6:08 PM EDT

                                Ivonne

                                There is a way to prove it. Withdraw the stimulus money from the economy in any economic computer model and the whole thing implodes on itself.

                                  #9.3 - Sun Aug 29, 2010 6:13 PM EDT
                                  Reply

                                  maybe we all ought to shift parties? dems are way far left and repubs are way far right! things sucked with bush and obama isn't doing much. what we need is a whole new train of thought here, maybe we should all vote libertarian?

                                    Reply#10 - Sun Aug 29, 2010 5:14 PM EDT

                                    C'mon, Dems...

                                    Every "remedy" tried by this administration has failed, even by their own standards.

                                    Or, don't you recall the Administration PROMISING that unemployment would not exceed 8% IF the stimulus were enacted?

                                    The mortgage assistance program was a dismal failure as well. Cash for Clunkers and the First-Time buyer homeowner tax credit were a waste of money that provided only a temporary blip on the radar screen and did absolutely nothing other than to push forward sales that would have happened anyway- without our tax dollars.

                                    So, with two years of a Democratic Congress before Obama, and now nearly halfway through his term, when will you Democrats stop blaming Bush and OWN your own failures! Get real...

                                    • 2 votes
                                    Reply#11 - Sun Aug 29, 2010 5:15 PM EDT

                                    I recall the administration saying they HOPED that unemployment wouldn't exceed 8%. There is a difference between a goal and a promise. Mr. Obama had the advice of every prominent economist in the world and their best estimate was that the recession was less severe than it turned out to be. Have you never underestimated the consequences of anything? This was an unprecedented situation and NO ONE knew what to do about it. I think it is unreasonable to expect a magic fix. I would rather have someone who would get the advice of all the experts and act on their best advice to try to fix it than to just leave it and let it collapse from inaction.

                                    • 1 vote
                                    #11.1 - Sun Aug 29, 2010 5:56 PM EDT

                                    Heartlight,

                                    Since Obama never had Eco 101, he should have HOPED someone in the administration had a clue and that unemployment wouldn't blow by their 8% statement before the bill even passed.

                                    Geez, unprecedented? No one knew what to do?(Well, maybe in the Obama administration.) Is that why Obama said the economy and jobs were the top priority and then spent all his time on HCR - he didn't know what to do? He didn't know what to do, so he says "lets throw a trillion out the window and HOPE unemployment doesn't exceed 8%"?

                                    It won't take magic to fix the economy, it will take an election.

                                      #11.2 - Sun Aug 29, 2010 6:48 PM EDT
                                      Reply

                                      The GOP is doing everything in its power to BLOCK the recovery for political reasons. Remember this when you vote. They HATE America. They hate people of color. They hate freedom.

                                        Reply#12 - Sun Aug 29, 2010 5:26 PM EDT

                                        They hate "other peoples'" freedom.

                                          #12.1 - Sun Aug 29, 2010 6:14 PM EDT

                                          Old argument.

                                            #12.2 - Mon Aug 30, 2010 12:42 PM EDT

                                            Unfinished argument.

                                              #12.3 - Mon Aug 30, 2010 5:19 PM EDT
                                              Reply

                                              How about the lie told that the food program would be cut to bail out teachers, police and firemen unions? We all know the party of compassion and welfare won't allow that to happen and I do not feel it should,not, but how about telling the truth, just more printed money, more debt, and it wasn't paid for as we were told. Anything to get votes. The president is getting smarter though, at least he didn't say what year the economy would do what it was supposed to do and he didn't say what it would do.

                                                Reply#13 - Sun Aug 29, 2010 5:30 PM EDT

                                                We all know that all recessions eventually end. It will be easier to talk about funding those food stamps after the recession ends.

                                                Now that there is a new poll that shows that there is an overwhelming majority that wants more government deficit stimulus financing for jobs, I would like to see the rethugs promoting balancing the budget and eliminating the budget deficit very aggressively.

                                                  #13.1 - Sun Aug 29, 2010 6:21 PM EDT

                                                  Alex,

                                                  Of course everyone knew the food stamps would be funded in the future, irregardless of the end of the recession. That was the lie about it not adding to the deficit, it just gets added on top in a few years instead of now. Makes no difference to our kids, that will have to pay for it either way.

                                                  Obama, Axelrod and Emanuel may not know jack crap about running the country or the economy, but they are brilliant at politics. With their disastrous handing of the economy and insane spending they have put the "rethugs" in a tough position regarding remedies. Solution to this mess is going to hurt. As long as it hurts the "rethugs", Obama could not care less about it hurting the American people.

                                                  Actually, Obama is not this stupid. He even knows that for that the stiumulus to work, you should probably spend it instead of waiting a year for the next election cycle to spend half of it. This is all about his radical progressive agenda, the expansion of the role and control of the federal government. If the stupid masses have to suffer while business/free markets and the rethugs are beaten down, so be it.

                                                    #13.2 - Sun Aug 29, 2010 7:37 PM EDT

                                                    I am very glad that you got the point, but the rethugs can continue pushing to cut food stamps, nobody is stopping them they can cut food stamps at any time they choose. They could cut them in 2011, 2012, 2013 or whenever they choose.

                                                      #13.3 - Sun Aug 29, 2010 11:11 PM EDT

                                                      And I am very surprised that you actually acknowledged Obama's deceit. Your honesty is to be respected, if nothing else.

                                                        #13.4 - Mon Aug 30, 2010 1:44 AM EDT

                                                        Are you accussing Obama of being too intelligent to have a sense of honesty or integrity. He must be the only one.

                                                          #13.5 - Mon Aug 30, 2010 2:55 PM EDT
                                                          Reply

                                                          You dont have to witness a train wreck (bush presidency) to assess the damage... it takes time and effort by ALL to clean it up.

                                                            Reply#14 - Sun Aug 29, 2010 5:32 PM EDT

                                                            Those who refute any and all of what Obama proposes offer absolutely no ideas or even second-class opinions on how to get the economy going again. You all want Obama to do something about the mess but you don't want Obama to use any money to fix any situation that requires money to fix the problem.

                                                            Despite your complaints about the President, you must think he's a friggin' magician that can produce jobs for all and reduce all debt worldwide at the drop of a hat. The man is smart. The man is intelligent. But a magician he's not quite mastered yet... remember he's only been President 20 months. Correcting wrongs is not an overnight job, no matter who you are.

                                                              Reply#15 - Sun Aug 29, 2010 5:33 PM EDT

                                                              remember he's only been President 20 months.

                                                              Uh, a president only gets 48 months to prove himself worthy of another term. If we don't see drastic improvements in 2011, he is one and done.

                                                              • 1 vote
                                                              #15.1 - Sun Aug 29, 2010 5:49 PM EDT

                                                              Jobseeker, if the rethugs had been in charge, you would have starved to death a long time ago without any unemployment benefits.

                                                                #15.2 - Sun Aug 29, 2010 6:26 PM EDT

                                                                You want to know the Cure for this economy?..It's TAX CUTS....TAX CUTS ..AND MORE TAX CUTS...and yes for all you LIBERAL KOOLAID DRINKING LEFT WING ..That means for the Wealthiest Americans as well..That and repealing Obama Care and yes the Bush Prescription Drug Plan along with strong fiscal restraint and this country will be back on it feet in no time. Tax Cuts work everytime as long as reign in spending at the same time.

                                                                  #15.3 - Sun Aug 29, 2010 8:49 PM EDT

                                                                  When were tax cuts met with reduced spending anywhere in the twentieth and/or twentyfirst century? Red herring straw man argument.

                                                                  Tax cuts can produce greater revenue only temporarily. If the tax rate was one percent, we would be unable to reduce spending enough to accomodate that because we have to service our debt, a payment that rivals what we pay for our national defense.

                                                                    #15.4 - Sun Aug 29, 2010 9:19 PM EDT

                                                                    Hey Paul,

                                                                    I just wanted to say hi, still enjoy your comments and the skillful way they are framed. (That's a sincere compliment.)

                                                                    I was curious on your thoughts regarding Iran/Bushehr. Another thing, do you ever look at Debka file and if you do, what do you think of that site?

                                                                    Thanks - bob

                                                                      #15.5 - Sun Aug 29, 2010 9:47 PM EDT
                                                                      Reply

                                                                      Well he's been right on the mark with it so far... so why not believe him.

                                                                        Reply#16 - Sun Aug 29, 2010 5:42 PM EDT

                                                                        Where does Obama think the economy needs to be ....He blames the Repubicans for the economy and yet you libs forget he voted on every spending measure that brought us to where we are now...He not only was driving the car into the ditch but now he is pulling the ditch in with him.

                                                                          Reply#17 - Sun Aug 29, 2010 5:44 PM EDT

                                                                          President Obama was against the Iraq war. That was one of the reasons why he beat McCain.

                                                                            #17.1 - Sun Aug 29, 2010 11:21 PM EDT
                                                                            Reply

                                                                            Obama: "Economy will get where it needs to be"

                                                                            About 2015 based on what some economic experts have predicted. That is assuming a one-term Obama and two years of reconstruction.

                                                                            • 1 vote
                                                                            Reply#18 - Sun Aug 29, 2010 5:45 PM EDT

                                                                            Brian Williams says he can see aides fidgeting off-camera.

                                                                            To Hell you say.

                                                                              Reply#19 - Sun Aug 29, 2010 5:49 PM EDT

                                                                              We need the government to create jobs that need to be performed in America like FDR did;

                                                                              We need a New New DEAL now!!!!

                                                                              We need to extend unemployment benefits for the 4.5 million ++ 99ers who ran out about 5 months ago and those numbers grow by the week. Use the existing stimulus money remaining.

                                                                              Obama is proving to be the best republican president we have ever had!!

                                                                              He needed to do all this 6 months ago but he appears to be asleep at the wheel.

                                                                                Reply#20 - Sun Aug 29, 2010 6:03 PM EDT

                                                                                Are you guys on the left planning to vote for the rethugs because you are unhappy with President Obama???

                                                                                  #20.1 - Sun Aug 29, 2010 6:30 PM EDT
                                                                                  Reply

                                                                                  The problem is President Obama has become shortsighted, he sits too pretty in his position of power and has gotten to chummy with the Oil & Gas Powers that be. He's forgotten all those families that are losing their clean water in Pennsylvania from fracking gas and all over the nation, because he believes the gas is clean energy! So not only do we have an economic crisis, but our environmental laws were dismantled by the Bush/Cheney rule of the past, and now he is going to feel the wrath of the people sooner than later now! Too many people are suffering now, because we gave our jobs overseas! Where are all these jobs now?Preferably, the non-polluting jobs?

                                                                                    Reply#21 - Sun Aug 29, 2010 6:06 PM EDT

                                                                                    Who had house and senate for last 2 years of Bush admin...Democrats, and they did what?? Bush is gone, quit dredging the past because guess what...it's ain't helping what's going on Now...Today...it's only an excuse hide the lack of government we have now! Obama has had 3 years to formulate a "plan" for the country since he announced he was running in 2007... and all we heard was the word "change"...was he talking about the change in his pockets cause he sure wasn't talking about the change in the country, unless you call it "change for the worst!!"

                                                                                    I still have friends and family who have been unemployed and loosing or have lost their homes since Obama took over and there is no light at the end of their tunnel in sight for them no matter how hard they have tried!!!

                                                                                    Instead of worrying about the country as a whole, Obama spent his first year solely on his health care plan...oh jeeze, I feel better now! And lets leave the race card out of this cause dudes...he's half white too! And guess what else...under his skin, he has a 4 chamber heart that pumps blood just like every other human being!

                                                                                    So Dems...get over yourselves and admit this country is still screwed up...I surely did not like Bush and I'm definitely not liking Obama anymore. It's not about Dems or Repubs, it's about what and who, works best for our country and I don't see anything working "best" right now!!

                                                                                    • 1 vote
                                                                                    Reply#22 - Sun Aug 29, 2010 6:24 PM EDT

                                                                                    The Truth You Libs do not want to Believe is that Obama has no EXPERIENCE in ANYTHING...He could not organize my sock drawer. He is a ONE TIMER. I just pray that we can recover from the damage He and his Buddies have inflicted upon this Great Country.

                                                                                      Reply#23 - Sun Aug 29, 2010 7:17 PM EDT

                                                                                      Ask not what your country can do for you, but what you can do for your country.

                                                                                      Here comes another tax break.

                                                                                        #23.1 - Mon Aug 30, 2010 3:03 PM EDT
                                                                                        Reply

                                                                                        I charted Unemployment against GDP growth. You can see unemployment and GDP both rising dramatically since 2008. The GDP pop has been all spending by the government and not by consumers or small business. IMHO, that means it doesn’t matter how much money the government spends, it’s not enough to create jobs.

                                                                                        Here is that chart --> http://www.hiddenlevers.com/hl/u?coUizF

                                                                                          Reply#24 - Mon Aug 30, 2010 7:12 PM EDT
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