Obama: U.S. isn't in danger of second recession

[WestVirginiaRebel]

CBS News:

President Obama told CBS News Wednesday that the United States isn't facing the possibility of another recession - but added that there remains a risk that the recovery will be too slow to deal with the "unemployment crisis."

"I don't think we're in danger of another recession, but we are in danger of not having a recovery that's fast enough to deal with a genuine unemployment crisis for a whole lot of folks out there," Mr. Obama told CBS News Senior Business Correspondent Anthony Mason. "And that's why we need to be doing more."

Mr. Obama plans to lay out new ideas for sparking job growth and reducing the deficit in a September speech. He is expected to call for tax cuts, help for the long-term unemployed and infrastructure spending in that speech. He has already called for a so-called "infrastructure bank" to spur growth, an extension of the payroll tax cut and Congressional passage of trade deals he says will help the economy.

Any stimulative spending proposal put forth by the president is likely to meet with near universal opposition from the congressional Republicans who control the House of Representatives.
________

Famous last words? The last time I checked, we were still in the last one...