President Obama Says No "Double-Dip"

By: Associated Press
By: Associated Press

President Barack Obama says he is confident the nation will not suffer the "double dip" of back-to-back recessions.

The rebound of the U.S. economy appears to be slowing, prompting fears that the nation will slide into recession again after a brief period of growth.

Obama told a CNBC interviewer he was confident that won't happen.

He acknowledged that much work remains on problems such as long-term unemployment. But the president expressed confidence that the economy is moving in the right direction.

U.S. economic growth slowed to 2.4 percent from April to May, down from 3.7 percent in the first three months of the year.

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  • by butter bean Location: rockville,md on Aug 6, 2010 at 10:38 AM
    maybe when every one takes their busniss over seas,what do you expect? is the bottom line be that profitable,that you will not keep a busniss home to give your family and friends a job ? to raise their families,help pay taxs,help keep the neighborhood clean and safe.
  • by Anonymous on Aug 6, 2010 at 07:15 AM
    I'm telling you, from where I sit it sure looks like we heading for a double-dip!
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