Obama to Mark 5-year Anniversary of US Financial Crisis

Saturday, 14 Sep 2013 04:10 PM

 

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President Barack Obama will mark the five-year anniversary of the U.S. financial crisis on Monday in an effort to move back to his domestic agenda after weeks of dealing with Syria.

When Wall Street came to a near collapse in 2008, the resulting economic crisis helped propel then-Democratic presidential nominee Obama to the White House.

But the economy's slow recovery from the recession has been a difficult challenge for Obama, who in recent weeks has been focused largely on foreign policy in trying to mount an international response to a chemical weapons attack in Syria.

A White House official said Obama will deliver remarks in the White House Rose Garden on Monday to mark the fifth anniversary of the financial crisis, which was accelerated on September 15, 2008 when the Lehman Brothers firm filed for bankruptcy protection.

The Democratic president will focus on the positive, discussing progress made and highlighting his prescriptions for boosting job creation amid budget battles expected with Republicans in Congress in the weeks ahead.

He is also expected to urge his Republican opponents in Congress not to threaten to shut down the government over the budget and to support raising the debt limit. Without new spending authority, most U.S. government agencies would have to close their doors on October 1 in a replay of politically painful shutdowns during the mid-1990s.

© 2014 Thomson/Reuters. All rights reserved.

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