President Obama addressed the press in his primetime news conference Tuesday and talked about an honest assessment of how troubled the economy but remains confident of his administration’s plan to “attack this crisis on all fronts.”
He stated, “It took many years and many failures to lead us here. And it will take many months and many different solutions to lead us out. There are no quick fixes, and there are no silver bullets.” To be fair with the president, there is quite a lot of truth with what he’s saying. There are no easy ways out of the mire in which the economy has bogged down.
“We’ll recover from this recession, but it will take time, it will take patience, and it will take an understanding that, when we all work together, when each of us looks beyond our own short-term interest to the wider set of obligations we have towards each other, that’s when we succeed,” he added.
His administration got some heat in the AIG controversy with critics placed blame on the lacking measures to make sure bailout money will be put into good use. Now, the administration is facing tougher criticisms regarding its trillion-dollar plan to clear the banking industry of its bad debts.
Source: CNN Money
