by Stephen Collinson Stephen Collinson – Tue Jun 7, 1:28 pm ET
WASHINGTON (AFP) – US President Barack Obama Tuesday dismissed fears of a plunge into a "double-dip" recession and warned against "panic" over dismal economic data that is beginning to cloud his reelection hopes.
In a news conference with German Chancellor Angela Merkel, Obama responded to signs the recovery may be slowing and sought to assure "skittish and nervous" investors and voters that better times lay ahead.
"I am not concerned about a double-dip recession," Obama said, empathizing with people who were frustrated that growth had not been unleashed more quickly.
"I'm concerned that the recovery we're on is not producing jobs as quickly as I wanted to happen," he said, adding there was "enormous work to do" to strengthen the recovery after the worst recession in decades.
As Republicans fire up their race for the party White House nomination and lambast Obama's economic policies as a failure, the president recalled that the world came close to a "complete disaster" back in 2009-2010.
Full story:
http://news.yahoo.com/s/afp/20110607/ts_alt_afp/useconomypoliticsobama_20110607172835
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