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'Abysmal' Jobs Report Stings Obama
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| Contributor | Jason |
| Last Edited | Jason Jul 08, 2011 05:30pm |
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| Category | Report |
| News Date | Friday, July 8, 2011 11:30:00 PM UTC0:0 |
| Description | President Obama addressed the increasing unemployment rate Friday morning, stating that the latest jobs report confirms "what most Americans already know."
"We still have a long way to go and a lot of work to do to give people the security and opportunity that they deserve," he said.
Recent natural disasters, spikes in gas prices, and state and local budget cuts have contributed to the down economy, Obama listed. He also noted that more than 2 million new private sector jobs were added over the past 16 months but that the recession "cost us more than 8 million."
"[T]hat means we that we still have a big hole to fill."
Obama plans to work through the weekend with Congress to come to an agreement on deficit reductions and the debt ceiling. |
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