InfoAnda - Obama Administration Report Highlights Path To Recovery

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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles Obama Administration Report Highlights Path To Recovery Email Facebook Digg Twitter Buzz Up! ShareThis February 11, 2010 12:45 p.m. EST Topics: government, politics, economic policy, executive (government), economy, business and finance, economy, United States Tejinder Singh - AHN Correspondent Washington, DC, United States (AHN) - U.S. President Barack Obama, since taking office, has rescued and is on the way to build the American economy according to a presidential economy report released Thursday. Christina Romer, the Chair of President Obama's Council of Economic Advisers (CEA), in a statement highlighting the analytical parts of the report accepted that there is "evidence that developments on Wall Street affect Main Street." The report in a 300-page analytical form sums up Obama Administration's first year in office from the White House point of view. The theme of the report is "rescuing, rebalancing, and rebuilding" the economy, but Romer mostly pointed at the economic and fiscal disaster scenario when President Obama took office and challenges since overcome by the administration. Romer said, "Over the past year, the President, working with Congress, has sought to rescue the economy from the immediate crisis, rebalance the economy toward greater investment and exports and away from unsustainable budget deficits, and begin the process of rebuilding the economy on a stronger foundation of quality, affordable health care, better education and job training, clean energy, and innovation." One of the main themes of the administration to generate jobs gets approval with the report pointing out that "$90 billion of clean energy investments in the Recovery Act" did affect ongoing job creation mechanism. The report reiterated earlier claims by the administration that the stimulus package saved or created about 2 million jobs. The report suggested some worsening of the situation before improving in the long-run as it assumed an average unemployment rate of 10.0% this year. Overall, the report blames the "inherited" situation and projected a future improvement because of "the President's commitment to address a wide range of short-run and long-run economic problems." Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories Captain Phil Harris Of Discovery's "Deadliest Catch" Dies At 53 Teutul Family Ending "American Chopper," Settling Legal Matters Susan Boyle And Her Cat Pebbles Part Ways Knoxville School Teacher Shoots Principal, Assistant UN Climate Scientists Now Say Claims About Himalayan Glaciers Not True "Real Housewives Of New York City" Returns March 4 With An All New Season Of Fights And Fiascos Bonnaroo Lineup For 2010 Includes Jay-Z, Kings Of Leon, Weezer And More Starz Shines With New Episodes Of "Spartacus: Blood And Sand" John Mayer Kisses And Tells On Ex-Girlfriends Jennifer Aniston And Jessica Simpson Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

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