May 4th, 2010
08:15 PM ET

Obama on economy: 'The storm is receding'

The past two years of recession have been "difficult," but "the storm is receding," President Obama said in a speech to business leaders Tuesday.

At the annual meeting of the Business Council, a group of of 150 executives from private businesses, Obama said the recession is "not just an economic problem - it's a human tragedy."

The president touched on several major topics throughout the 35-minute speech, including the labor market, education, health care reform, business innovation and financial overhaul.

"Last year the economy was in free fall," Obama said. "Now it's growing again. In fact, we've seen the fastest turnaround in growth in nearly three decades."

Obama said his administration "has a relentless focus" on recovery, and that "spurring job creation and economic expansion continues to be our No. 1 domestic priority."

Read the full CNNMoney.com story

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Filed under: Barack Obama • Economy
soundoff (5 Responses)
  1. SomeGuyInKY

    My hair is receding. The economy isn't.

    May 5, 2010 at 1:50 am | Report abuse |
  2. rneeshus

    I have a surprise for him the storm has just started!

    May 5, 2010 at 3:59 am | Report abuse |
  3. Obama Sucks

    Really? Really? What a liar. He really thinks that Americans are stupid to believe this crap. Tell yourself whatever you need to get you through the day Obama. Lie to yourself, don't lie to us.

    July 14, 2010 at 1:33 pm | Report abuse |
    • shar

      You suck!!!!!!!!!!! You haven't given him a chance. Tell yourself whatever you need to, to get through your day. Obama didnt put us in this mess, the republicans did. Now what?

      November 3, 2010 at 9:36 am | Report abuse |
  4. John

    Lies don't figure and figures don't lie. The economy is greatly improved over this time last year. You can't cure a decade of Republican spending sprees and business deregulation overnight. I hope the Republicans enjoy hanging out with the Wiggs and Torries after that insane party of irresponsible nut cases ceases to exist in November.

    July 14, 2010 at 4:35 pm | Report abuse |
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