Obama says ‘the economy is going to get back to normal’ amid recession
President Barack Obama said Monday that “the economy’s going to go back to full strength” once Congress returns from recess.
The president’s remarks came after he met with members of Congress in the Oval Office and said the country is “doing well,” adding that “there’s no doubt we’re headed into a new normal.”
We are in a new Normal.
When we are going to come back from recess, the economy is gonna go back, I said.
We’re all gonna come together, he said.
Obama added that the “greatest strength” of the recovery has been the “breathtaking resilience” of businesses and consumers.
“There’s no question that’s been extraordinary, and it’s not going to change anytime soon,” he said, adding that the economy has “gone from a long recession to one that is going nowhere fast.”
The economy’s strength is not just the resilience of businesses, but the strength of families, he continued.
It is what we’ve been doing with all of these things, which is to help families, and we’ve seen it.
It’s been real.
That’s not happening.
The recovery has stalled.
That’s not what we need right now.
The president said he has “serious concerns” about the government’s fiscal outlook, but said that it’s the first time since the Great Recession that the government has not announced a fiscal outlook.
And he noted that the president is “not worried about the long-term.”
I have serious concerns about the fiscal outlook that we have right now, he added.
That is not something we’ve ever had before.
I don’t think we’re going to have the fiscal stability that we need.
We’ve been working with Congress and with the Federal Reserve, which has been doing very well.
And we will continue to do that.
But that’s not a sustainable position.
Now, it is the economic recovery that’s going forward.
And as long as we continue to see economic growth, it will be good for our economy.
There’s still a lot of work to be done, but there’s still hope.
Barack Obama, March 21, 2021President Barack Obama is meeting with members and families of the business community, telling them that he expects the economy to get better once the Congress returns for recess.
Obama’s comments came after a meeting with business leaders, where he warned that a “very tough patch” is ahead for businesses and workers.
The economy will go back “to normal” once the congressional recess ends, the president said Monday during an interview on ABC News.
“The economy is working,” he told ABC News’ “This Week.”
“It’s getting back to pre-recession levels of growth, which we had before the crisis.
And it’s going back to that full-strength growth rate that we had back before the recession.”
He also said that the country has “never had a recession this long, and I think it’s because of the resilience” and “the confidence that people have in the economy.”
He noted that many businesses have been able to bounce back from the crisis and that he thinks the economy “will get back on track” once lawmakers return.
In a recent economic update, the Commerce Department estimated that economic growth is expected to remain “moderate” in 2021.
It said that overall job growth was expected to be 2.5 percent this year, 1.7 percent in 2022 and 1.4 percent in 2023.
Obama said he wants to see the economy return to “full strength” by the end of the year.
He said that he has been talking to business leaders and other members of the public to make sure they know what to expect once the recess is over.
He said that “they’re the most important people in our country, and they have a real say in our economy, and this is a good moment to talk to them.”
I think they should get their jobs back.
And I think we can achieve that by the first quarter of 2021, I believe, because we have a lot to do, but we’re on track,” he added, noting that Congress has been “doing a lot” of work in recent weeks.
This is a moment to get it done, he argued.
And the president hopes that business leaders will step up and help him get it right.
Obama met with the business leaders in the White House Rose Garden on Monday morning to share his views on the economic outlook and the recovery, according to The Associated Press.
He also told the leaders that he’s “very worried” about a lack of progress on a debt-ceiling agreement that was announced earlier this month.
Obama said that Congress must get “to work” on a bill that would allow the government to reopen its purse strings and that it must get to work on legislation to restore some funding to Medicare and Medicaid, two government programs that