Recession far from over, Obama says
WASHINGTON -- President Obama called on Congress to tackle unpopular tasks it has avoided for decades, such as overhauling the nation's health care and retirement systems, or risk continued economic crises.
In a speech Tuesday at Georgetown University billed as a tally of his administration's three-month effort to end the recession, Obama said action on health care, energy, education, financial regulation and deficit reduction is needed for a long-term recovery.
"We cannot rebuild this economy on the same pile of sand. We must build our house upon a rock," he said, referring to a parable at the end of the Sermon on the Mount. "We must lay a new foundation for growth and prosperity — a foundation that will move us from an era of borrow and spend to one where we save and invest."
Obama's call for long-term fiscal discipline was criticized by some Republicans. House Minority Leader John Boehner, R-Ohio, said the president hasn't led on overhauling entitlement programs such as Medicare and Social Security, which are on unsustainable paths as benefits outstrip revenue.
"Instead of embracing tough decisions, Democrats have avoided them in favor of saddling our children and grandchildren with mountains of debt that we know they cannot afford," Boehner said.
The president's speech was intended to warn against public or congressional complacency. As stock markets start to rebound and credit begins to flow, the administration does not want to lose momentum in its effort to restructure the economy.
"The president believes that it's important to continue to let people know that we've got a lot of work to do," White House spokesman Robert Gibbs said. "We're going to have to tackle some things that have not been addressed in quite some time in order to put ourselves back on a path to fiscal responsibility."
Obama warned of more "difficult and unpopular choices" in the months ahead as the economy continues to struggle. Addressing a largely supportive student audience, he painted a grim picture of the economy even as he noted "glimmers of hope" among rising unemployment and declining growth figures.
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