Arab Today, arab today obama government shutdown hurts economic growth
Last Updated : GMT 08:07:11
Arab Today, arab today
Arab Today, arab today

Obama: Government shutdown hurts economic growth

Arab Today, arab today

Arab Today, arab today Obama: Government shutdown hurts economic growth

Washington - XINHUA

US President Barack Obama said on Friday that the 16-day partial government shutdown in October is hurting the U.S. economic growth momentum despite ongoing economic and job market recovery. Though U.S. economy grew at its fastest pace in a year during the third quarter, the latest government shutdown was dampening U. S. economic growth and job creation, Obama said in the port city of New Orleans, U.S. state of Louisiana. The U.S. economy rose at an annual rate of 2.8 percent in the third quarter before the 16-day government shutdown, boosted by private inventories and residential fixed investment. It is a welcome acceleration from the 2.5 percent growth rate in the second quarter and the fastest growth since the third quarter of 2012, the Commerce Department said Thursday. "The bad news is that the very day the economic quarter ended, some folks in Washington decided to shut down the government and threatened to default on America's obligations for the first in more than 200 years," Obama said. "It's like the gears of our economy, every time they are just about to take off, suddenly somebody taps the brakes and says, not so fast." The federal government was forced into the first shutdown in 17 years on Oct. 1 after Republicans tried to make a bill to tie funding the government to delaying or defunding Obama's signature health care law. Facing an imminent prospect of a debt default, the bitterly-divided Congress ultimately passed a legislation on Oct. 16 to lift the debt ceiling through Feb. 7, and fund the government through Jan. 15. Obama said his "driving focus" has been to restore the sense of security for middle-class families so they can find good jobs and make sure that their kids are doing even better than they did. "That's what everybody in Washington should be thinking about every day," he said. Obama called for more government spending on improving the nation's infrastructure facilities to boost exports and job creation, adding that "we should be building, not tearing things down." "We shouldn't get caught up in the same old fights. And we shouldn't just cut things just for the sake of cutting things," he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama government shutdown hurts economic growth Arab Today, arab today obama government shutdown hurts economic growth

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama government shutdown hurts economic growth Arab Today, arab today obama government shutdown hurts economic growth

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday