Obama Says Stimulus Is Creating Jobs, Helping Economy
WASHINGTON -(Dow Jones)- U.S. President Barack Obama said the nation's economy
seems to be moving in the right direction, helped by a $787 billion stimulus
package he signed into law early this year.
The Commerce Department announced this week that the U.S. economy grew 3.5% in
the third quarter, after a year of contraction. In his weekly radio address, the
president called the results "a good sign," and evidence that steps taken by his
administration are "blunting the worst of this recession and helping to bring
about its conclusion."
A new report on the economic stimulus act, also issued this week, shows it
created and saved more than one million jobs, the president added. However, he
cautioned that despite signs of a turnaround, the U.S. has a long way to go
before it returns to prosperity and likely will see further job losses ahead.
"As I've said many times, it took years to dig our way into the crisis we've
faced. It will take more than a few months to dig our way out. But make no
mistake: that's exactly what we will do," the president said.
House Republican Leader John Boehner, R-Ohio, who delivered the Republican
response, focused his remarks on efforts to overhaul U.S. health care. Boehner
assailed legislation unveiled this week by House Democrats, saying it would
empower bureaucrats to make medical decisions that could mean the difference
between life and death.
Boehner also predicted that the Democrats' proposal would raise the cost of
health insurance premiums, cut Medicare benefits for senior citizens, reduce
jobs due to tax hikes and be too costly for taxpayers.
"We now have a choice: we can come together to implement smart, fiscally
responsible reforms to improve Americans' health care or we can recklessly
pursue this government takeover that creates far more problems than it solves,"
Boehner said.
-By Judith Burns, Dow Jones Newswires; 202-862-6692; judith.burns@dowjones.com
(END) Dow Jones Newswires
10-31-090615ET
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