President Obama says the country has "stepped back from the brink" where the economy is concerned. The president says the U.S. economy has turned the corner.
He made the positive remarks on the day his $787 billion stimulus plan turned one hundred days old at a meeting with major donors in Beverly Hills, California.
"When you look at the economy right now, I think it's safe to say that we have stepped back from the brink, that there is some calm that didn't exist before," Obama said.
There are numbers to back up his statements. Sales of existing homes rose by 2.0 percent in April. First-time buyers led the way, taking advantage of lower prices and lower interest rates.
"People are coming out, because they feel they can get a good deal for the first time in quite a long time," said real estate agent Phil Faranda.
Realtors estimate 45 percent of sales in April were homes in foreclosure.
Treasury Secretary Timothy Geithner also believes the U.S. economy is beginning to rebound from a recession. But he says there's a lot more to be done to bring about a sustained recovery.
Source: CBN News
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The only reason Obama-hood gets away with this is because most the average American was not taught economics in the public school system.Any parent who sends their children to the goverment school ahould be cahraged with child abuse.
Home sale are up 2% from last month,march 2009.But it is down 20% of last year.Now how many millions got laid off in the last 4 months?My guess is thos who bought their home while the price is down,did well.But the next wave of those loosing their home because of job lost will be a much bigger wave coming on us in the months to follow.But don't add to the credit used to to survive while unemployeed.
And with the massive layoffs,Obama forgot about the commercial for closure ahead.And to to it all off,he did all this onputting all the money at the top,not at the bottom where the wheels of the economy ar at.He is going to stimulate by spending not be investing?I rememeber GM was too big to fail,all the money to bail it out and the result is bankrupt?
Obama has no experience of economy in his back ground other than 3 months on Wall Street when he said in his book that he felt like he was behind enemy lines.He does not believe in free market economy,but socialism.The damage he did to the American economy in the last 3 months will committ a large portion of America to poverty.
Please check out article titled:
OPINION: MAIN STREET JUNE 10, 2009
The Media Fall for Phony 'Jobs' Claims The Obama Numbers Are Pure Fiction.
You are so negative Lorraine. Misery must be your everyday activity. Seek the Lord.