Obama says economy is 'not out of the woods'

(AP) - He's talking about "glimmers of hope" for theeconomy, but President Barack Obama is also warning that "by nomeans are we out of the woods." In a speech today at Georgetown University, Obama sought

News 12 Staff

Apr 14, 2009, 5:34 PM

Updated 5,483 days ago

Share:

Obama says economy is 'not out of the woods'
(AP) - He's talking about "glimmers of hope" for theeconomy, but President Barack Obama is also warning that "by nomeans are we out of the woods."
In a speech today at Georgetown University, Obama sought tobalance his recent hopeful words on the economy with a sign thathe's not ignoring the lingering problems.
He also argued that his broad domestic agenda is the path torecovery.
The speech came as Obama nears his 100-day mark in office. It'sbecome a traditional marker by which to judge new administrations.
Obama warned that while "times are still tough," it's possibleto see "way off in the distance" a future that is "far differentthan our troubled economic past."
He says the economy needs to be transformed, so that it's lessdependent on a financial sector that is obsessed with risk, andmore dependent on clean energy, good education, and reined-inhealth care costs.
He spoke on the same day that Fed chairman Ben Bernankesuggested that the recession may at last be bottoming out.


More from News 12
1:31
Darien officials oppose proposed dispensary on Darien-Stamford border

Darien officials oppose proposed dispensary on Darien-Stamford border

1:57
Mostly cloudy skies, light showers and cold temperatures in Connecticut

Mostly cloudy skies, light showers and cold temperatures in Connecticut

1:46
Monroe police they have person of interest in nearly 50-year-old cold case

Monroe police they have person of interest in nearly 50-year-old cold case

0:24
Officials: Firefighter and occupant injured in Norwalk house fire

Officials: Firefighter and occupant injured in Norwalk house fire

0:29
Bills on magic mushrooms, ride-share transparency and 'nip' bottles will not become law

Bills on magic mushrooms, ride-share transparency and 'nip' bottles will not become law

0:20
Police: Teen shot in the head in Bridgeport last week dies from injuries

Police: Teen shot in the head in Bridgeport last week dies from injuries

0:58
Ellen Ash Peters dies at 94, was 1st woman to serve as chief justice of CT Supreme Court

Ellen Ash Peters dies at 94, was 1st woman to serve as chief justice of CT Supreme Court

3:30
Explore the classic old New England-feel in the town of Chester

Explore the classic old New England-feel in the town of Chester

2:15
Stamford HS senior receives full ride to college through golf caddie scholarship

Stamford HS senior receives full ride to college through golf caddie scholarship

0:24
Norwalk police: Miami man arrested for sexual assault after lengthy investigation

Norwalk police: Miami man arrested for sexual assault after lengthy investigation

0:51
Save money while helping the planet with these 12 energy-efficient tips

Save money while helping the planet with these 12 energy-efficient tips

0:29
Stamford police: driver involved in pedestrian crash in March faces negligent homicide charges

Stamford police: driver involved in pedestrian crash in March faces negligent homicide charges

2:33
Medical organizations push to correct racial disparities in algorithm that made Black people wait longer for kidneys

Medical organizations push to correct racial disparities in algorithm that made Black people wait longer for kidneys

2:11
Milford business owner loses house and dog in fire; effort to help underway

Milford business owner loses house and dog in fire; effort to help underway

0:21
Criminal prosecutors take over Bridgeport’s ballot fraud cases

Criminal prosecutors take over Bridgeport’s ballot fraud cases

2:13
Time running out for hundreds of bills at state Capitol

Time running out for hundreds of bills at state Capitol

1:51
Ceremony held in Greenwich to mark 1 year anniversary with Ukrainian sister city

Ceremony held in Greenwich to mark 1 year anniversary with Ukrainian sister city

0:27
Norwalk, Fairfield and Wilton fire crews assist Westport Fire Dept. in Hunt Club Lane house fire

Norwalk, Fairfield and Wilton fire crews assist Westport Fire Dept. in Hunt Club Lane house fire

0:20
Firefighter injured when truck crashes into Shelton condo

Firefighter injured when truck crashes into Shelton condo

2:24
Connecticut joins partnership to hold airlines accountable for consumer complaints

Connecticut joins partnership to hold airlines accountable for consumer complaints