US economy has stepped back from its worst recession in seven decades and is on the road to recovery, President Barack Obama said in a rare address to Congress Wednesday night. In a speech before both houses of Congress that was largely devoted to health care, Obama took credit for pulling the world's largest economy out of a deep crisis but warned there was more pain to come. "Thanks to the bold and decisive action we have taken since January, I can stand here with confidence and say that we have pulled this economy back from the brink," Obama said. But he cautioned: "We are by no means out of the woods. A full and vibrant recovery is still many months away." The United States has been in recession since December 2007, but most economists expect the downturn to end in the second half of the year. A regional survey issued Wednesday by the Federal Reserve found that nearly all regions of the country reported their economies were stabilised or growing, but it warned that most regions were still experiencing "flat" retail sales and "weak" labour markets. Obama's key measure to revive the economy was a $787-billion stimulus package that was narrowly approved by Congress in February. source : TOI
Recession in America is Over Obama Well was this a warning or a happy news. It was quite difficult to make out, whether Mr. President was trying to warn us that we are still in middle of no where aur the Indian's should not try and depend on the job market of US. Well nothing was clear from what Mr. Obama ment, lets see how many more months, are there to wait for market to boom.
Recession in America is Over Obama Well was this? a warning or a happy news. It was quite difficult to make out, whether Mr. President was trying to warn us that we are still in middle of nowhere or the Indian's should not try and depend on the job market of US. Well nothing was clear from what Mr. Obama meant. Let’s see how many more months, are there for us to wait for market to boom.
Recession in America is over Well that was nice of Mr. Obama, for boosting our moral and sending us hopes. However, this declaration was a nasty reaction of the election, which surely did not made Mr. President happy and therefore he flew all the way here to announce this news personally to restore his relation with India, which somehow became bitter during recession, when Indians were sent back. Hope that things improve and there is more opportunities flowing inside the every door.
well said by mr obama as it is true that recession is over in america and rest of the world but the markets are still affected by the crisis and there needs to be time gap for proper recovery. mr obama has done good job in boosting up the spirits of americans and other nationals who are willing to work in america.
