Obama Says Spending Cuts Could Trigger Second Recession

Wednesday, 20 Apr 2011 05:45 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

PALO ALTO, Calif. — President Barack Obama said Wednesday he believes the U.S. economy could lapse back into recession if government spending is cut too deeply.

Obama made the comment at a Facebook town hall, which he used to promote his proposals for reducing U.S. deficits. He said Republicans are too narrowly focused on spending cuts.

Obama also said the lack of a serious plan to tackle U.S. deficits could become a big drag on the economy if investors pull back.

"If all we are doing is spending cuts, and we are not discriminating about it, if we are using a machete instead of a scalpel, and we are cutting out things that create jobs, then the deficit could actually get worse because we could slip back into another recession," he said.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

3 Afghan Soldiers Missing from Cape Cod Base

Monday, 22 Sep 2014 08:41 AM

Police and military officials were searching Sunday for three soldiers from the Afghanistan National Army who went missi . . .

Lois Lerner Breaks Silence: 'I Didn't Do Anything Wrong'

Monday, 22 Sep 2014 08:20 AM

Lois Lerner, the IRS official who came under fire for her role in the tea party targeting scandal, has broken her silenc . . .

Bill Clinton: Hillary Was Right About Arming Syrian Rebels

Monday, 22 Sep 2014 08:17 AM

Former president Bill Clinton told CNN's Fareed Zakaria that he agreed with Hillary Clinton that the Obama administratio . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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