Transcript: Pres. Obama Townhall in Rio Rancho, N.M. – Credit Card Reform
(Source: White House Press Office)
THE PRESIDENT: Thank you so much. What a wonderful welcome. It’s good to be back in New Mexico. (Applause.) It’s always nice to get out of Washington for a while — (applause) — and come to places like Rio Rancho. (Applause.) The climate is nice, the conversation is nice, people are nice. It is just wonderful to be here.
Video: President Obama Weekly Address – Credit Card Reform, May 9, 2009
Transcript: Obama Weekly Address – Credit Card Reform, May 9, 2009
(Source: White House Press Office)
Good morning. I want to briefly share some news about our economy, and talk about the work that we’re doing both to protect American consumers, and to put our economy back on a path to growth and prosperity.
This week, we saw some signs that the gears of America’s economic engine are slowly beginning to turn. Consumer spending and home sales are stabilizing. Unemployment claims are dropping and job losses are beginning to slow. But these trends are far from satisfactory. The unemployment rate is at its highest point in twenty-five years. We are still in the midst of a deep recession that was years in the making, and it will take time to fully turn this economy around.
We cannot rest until our work is done. Not when Americans continue to lose their jobs and struggle to pay their bills. Not when we are wrestling with record deficits and an over-burdened middle class. That is why every action that my Administration is taking is focused on clearing away the wreckage of this recession, and building a new foundation for job-creation and long-term growth.
