News / USA

Obama Discusses Economy, Chinese Currency, Pakistan

In a news conference at the White House, President Barack Obama discussed the U.S. economy and demonstrations against Wall Street, efforts to persuade a divided Congress to pass his jobs legislation, and successes against al-Qaida.

He took the opportunity to ask Congress to approve his $447 billion jobs bill that he says will boost the economy, as anti-Wall Street protests continue in New York and other cities.

In recent travels across the country, Mr. Obama has tried to mobilize public opinion in his favor and escalated rhetorical attacks on specific Republican leaders, such as Representative Eric Cantor.

He began with another appeal for passage of the American Jobs Act, calling it vital when the U.S. economy is fragile and Europe is dealing with its own financial crisis.

"Our economy really needs a jolt right now," said the president. "This is not a game. This is not the time for the usual political gridlock. The problems Europe is having today could have a very real effect on our economy at a time when it is already fragile."

Republicans controlling the House of Representatives have refused to bring Mr. Obama's entire bill up for a vote. The Democratic-controlled Senate is expected to take up the the bill next week.

Saying he is open to plans from Republicans for a similar jobs bill, he challenged Republican senators who would reject his bill to explain their votes to Americans.

Senate Republican leader Mitch McConnell, speaking on Capitol Hill before Mr. Obama's news conference, accused the president and Democrats of failing to seek bipartisan solutions.

"Instead of working across the aisle with Republicans on solutions that would help put people back to work, Democrats have fallen back to tired talking points, the same stale rhetoric we have heard literally for years" McConnell said.

On demonstrations on Wall Street in New York and other cities by Americans angry over the economy and unemployment, President Obama said the protests reflect broad aggravation with how the financial system works.

"I think it expresses the frustrations that the American people feel, that we had the biggest financial crisis since the Great Depression, huge collateral damage all throughout the country, all across Main Street," he said. "And yet you're still seeing some of the same folks who acted irresponsibly trying to fight efforts to crack down on abusive practices that got us into this problem in the first place."

Mr. Obama also said growth depends on having a strong financial sector, but deceptive practices expose the economy to "enormous risks" and were the target of regulatory legislation passed by Congress.

He said he believes European leaders recognize the urgency of coordinated action to solve their problems, adding he hopes they have a "clear, concrete plan" by the time of the G-20 summit in France early next month.

And he repeated the U.S. position that China needs to make further progress in allowing its currency to appreciate against the dollar, saying Beijing continues to "game" the global trading system to its advantage.

On Pakistan, the president said progress against al-Qaida could not have been accomplished without cooperation from the government in Islamabad, which he called an effective partner.

However, he voiced concern about what he called Pakistani "ambivalence" about some U.S. goals in Afghanistan and expressed concern about links between Pakistan's military and intelligence services with the Haqqani militant network.

"There is no doubt that there are some connections that the Pakistani military and intelligence services have with certain individuals that we find troubling, and I have said that publicly and I have said it privately to Pakistani officials as well."

Mr Obama said Pakistan is playing both sides when it comes to Afghanistan, by maintaining interactions with some "unsavory characters" in the belief they might end up regaining power in Afghanistan after U.S. and coalition forces depart.

You May Like

Video Experts Warn World Losing Ebola Fight

Doctors Without Borders says world is losing battle against Ebola, unless wealthy nations dispatch specialized biological disaster response teams More

Video Experts: Rise of Islamic State Significant Development in Jihadism

Many analysts contend the group - which grew out of al-Qaida in Iraq - has been rebuilding for years More

US-Based Hong Kongers Pledge Support for Pro-Democracy Activists

Democracy advocates call on Chinese living abroad to join them in opposing new election rules for their home territory More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Larger Than Life Chinese Lanterns Make Southern California Appearancei
X
Elizabeth Lee
September 02, 2014 8:57 PM
Chinese lanterns with a long history are lighting up in 21st century style at the Los Angeles County Fair in southern California. Visitors can see traditional lanterns that hang, but also lanterns in the shape of animals, iconic landmarks and many other objects, all created by artisans from a place in China known for its lanterns. Elizabeth Lee has the details from the fair in the city of Pomona.
Video

Video Larger Than Life Chinese Lanterns Make Southern California Appearance

Chinese lanterns with a long history are lighting up in 21st century style at the Los Angeles County Fair in southern California. Visitors can see traditional lanterns that hang, but also lanterns in the shape of animals, iconic landmarks and many other objects, all created by artisans from a place in China known for its lanterns. Elizabeth Lee has the details from the fair in the city of Pomona.
Video

Video Experts See Rise of ISIS as Significant Development

The Islamic State’s rise seems sudden. It caught the U.S. by surprise this summer when it captured large portions of northern Iraq and spread its wings in neighboring Syria. But many analysts contend that the group - which grew out of al-Qaida in Iraq - has been rebuilding for years. VOA's Jela de Franceschi takes a closer look at the rise of ISIS and its implications for the Middle East and beyond.
Video

Video Israel Concerned Over Syrian Rebels in Golan

Israeli officials are following with concern the recent fighting between Syrian rebels and government forces near the contested Golan Heights. Forty-four U.N. peacekeepers from Fiji have been seized by Syrian Islamist rebels and the clashes occasionally have spilled into Israel. VOA’s Scott Bobb reports from Jerusalem.
Video

Video Ukraine Schools Resume Classes, Donate to Government Forces

A new school year has started in Ukraine but thousands of children in the war-torn east are unable to attend because of ongoing clashes with pro-Russia rebels. In Ukraine's capital, patriotic education has become the norm along with donations to support injured security forces fighting to take back rebel-held areas. VOA's Daniel Schearf reports from Kyiv.
Video

Video US Detainees Want Negotiators for Freedom in North Korea

The three U.S. detainees held in North Korea were permitted to speak with foreign media Monday. The government of Kim Jong Un restricted the topics of the questions, and the interviews in Pyongyang were limited to five minutes. Each of the men asked Washington to send a representative to Pyongyang to secure his release. VOA’s Carolyn Presutti has our story.
Video

Video Turkmen From Amerli Describe Survival of IS Siege

Over the past few weeks, hundreds of Shi'ite Turkmen have fled the town of Amerli seeking refuge in the northern city of Kirkuk. Despite recent military gains after U.S. airstrikes that were coordinated with Iraqi and Kurdish forces, the situation remains dire for Amerli’s residents. Sebastian Meyer went to Kirkuk for VOA to speak to those who managed to escape.
Video

Video West Africa Ebola Vaccine Trials Possible by Early 2015

A U.S. health agency is speeding up clinical trials of a possible vaccine against the deadly Ebola virus that so far has killed more than 1,500 people in West Africa. If successful, the next step would be a larger trial in countries where the outbreak is occurring. VOA's Carol Pearson has more.
Video

Video Survivors Commemorate 70th Anniversary of Nazi Liquidation of Jewish Ghetto

When the German Nazi army occupied the Polish city of Lodz in 1939, it marked the beginning of a long nightmare for the Jewish community that once made up one third of the population. Roughly 200,000 people were forced into the Lodz Ghetto. Less than 7,000 survived. As VOA’s Kane Farabaugh reports, some survivors gathered at the Union League Club in Chicago on the 70th anniversary of the liquidation of the Lodz Ghetto to remember those who suffered at the hands of the Nazi regime.

AppleAndroid