Tags: Barack Obama | Economic- Crisis | BUD | BUSINESS | CA | COS | DCAA

Obama : Housing Market Is ‘Biggest Drag’ on U.S. Economy

Wednesday, 20 Apr 2011 06:57 PM

 

President Barack Obama said the U.S. housing market is “probably the biggest drag” on the nation’s economy.

Obama said it’s crucial to get the housing industry out of its economic slump so “people will have more confidence, will spend more, more people will get hired and overall, the economy will improve.”

“It’s still tough out there,” Obama said at a town hall discussion at the headquarters of Facebook Inc., in Palo Alto, California. “It’s getting better in some areas.”

The president is at the start of a three-day, cross-country trip to promote his policies to reduce the nation’s budget deficit.

 

© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved