Obama Stands By “Recovery Summer” – With Video
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President Obama on Friday said he has no regrets about describing the last three months as the “Recovery Summer.”
“I don’t regret the notion that we are moving forward because of the steps that we have taken,” Obama said in response to a question after he offered comments on the latest unemployment figures.
The administration described the summer of 2010 as “recovery summer” because a large amount of the 2009 stimulus package was being spent over the summer. But job growth slowed dramatically over the summer amid concerns the economy was moving into a double-dip recession, and Republicans have made fun of the moniker.
The president’s remarks came after the Labor Department released jobs data showing unemployment rising from 9.5 to 9.6 percent. The private sector created 67,000 jobs, but overall the economy lost 54,000 jobs.
Those numbers were better than expected, and are easing concerns about a double-dip recession. Still, Republicans argued Friday they fall short of a real recovery.
The administration has held firm that its policies are slowly but surely nursing the economy back to health.
“We are confident we are moving in the right direction but we want to make sure this economy” is getting even stronger, Obama said on Friday.
Obama said he would be offering a new package of ideas on the economy next week.
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