Dec 23, 2010


The United State Economy is Past Crisis Point

  • Dec 23, 2010
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  • U.S. President Barack Obama said that the country now is past the crisis point in the economy and that focus is now on jobs and growth.

    At a White House news conference before leaving for a Christmas vacation in Hawaii, Mr. Obama said Republicans and Democrats crossed party lines to pass tax cuts and unemployment insurance.

    He mentioned that the economists believe the measures will lead to faster economic growth next year than they first thought.

    Mr. Obama said he expects to have a robust debate with the new Republican-led House on how to cut spending on programs the country does not need while investing in things it does need, including education.
    He said he also expects debate on how to balance the budget and on tax cuts for the wealthy.

    The president says the country's goal should be keeping a thriving middle class which he says has always been the U.S.'s greatest strength.

    The president's remarks came after the Commerce Department reported that the U.S. economy grew faster than first thought during July, August, and September.
    The National Association of Realtors also reports that home sales in November were 5.6 percent higher than the previous month.

    This report was extracted from VOA Khmer News.

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