Tags: obama | gop | china | economy

Obama: GOP Win Means We Lose to China

Friday, 05 Nov 2010 10:10 AM

President Barack Obama, still smarting from his Democrats' big losses in congressional elections, said Friday the United States cannot afford to get mired in legislative gridlock for the next two years while countries like China move ahead.

Obama called for "putting politics aside" as he continued a conciliatory tone with victorious Republicans, saying he was open to hearing their ideas for boosting the sluggish economic recovery and spurring job creation.

"We can't spend the next two years mired in gridlock. Other countries like China aren't standing still so we can't stand still either. We've got to move forward," Obama told reporters before departing on a 10-day Asia tour.

Obama spoke after the government reported a bigger-than-expected increase in employment in October but not enough to budge the 9.6 percent jobless rate.

Voters unhappy with the sluggish economy delivered a stinging rebuke to Obama and his Democrats in Tuesday's congressional elections.

He called the latest unemployment figures "encouraging news" but said there was still much more work to be done to boost jobs, and he urged Republicans to work with him.

Democrats lost control of the House of Representatives and saw their grip on the Senate weakened in Tuesday's midterm elections, which were widely interpreted as a verdict on Obama's first two years in office.

Speaking to reporters Friday, Obama pushed for progress on several proposals he has already put forth, including tax breaks to encourage businesses to purchase new equipment and to invest in research and development.

He also repeated his call for making permanent the middle-class tax cuts and extending unemployment insurance.

"It's also absolutely clear that one of the keys to creating jobs is to open markets to American goods made by American workers," he said, commenting on his coming Asia trip.

He has set a goal of doubling U.S. exports.

"This is a reminder as well that the most important competition that we face ... will not be Democrats and Republicans," he said, citing foreign competition. (Reporting by Matt Spetalnick, Caren Bohan and Ross Colvin; Editing by Vicki Allen)

© 2017 Thomson/Reuters. All rights reserved.

 
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President Barack Obama, still smarting from his Democrats' big losses in congressional elections, said Friday the United States cannot afford to get mired in legislative gridlock for the next two years while countries like China move ahead.Obama called for putting politics...
obama,gop,china,economy
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2010-10-05
Friday, 05 Nov 2010 10:10 AM
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