Obama Says Economy Is ‘Not Out Of The Woods’
WASHINGTON — He’s talking about “glimmers of hope” for the economy, but President Barack Obama is also warning that “by no means are we out of the woods.”
In a speech Tuesday at Georgetown University, Obama sought to balance his recent hopeful words on the economy with a sign that he’s not ignoring the lingering problems.
He also argued that his broad domestic agenda is the path to recovery.
The speech came as Obama nears his 100-day mark in office. It’s become a traditional marker by which to judge new administrations.
Obama warned that while “times are still tough,” it’s possible to see “way off in the distance” a future that is “far different than our troubled economic past.”
He says the economy needs to be transformed, so that it’s less dependent on a financial sector that is obsessed with risk, and more dependent on clean energy, good education, and reined-in health care costs.
He spoke on the same day that Fed chairman Ben Bernanke suggested that the recession may at last be bottoming out.