Obama: Let's Stop Washington Manufactured Crisis

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Nov. 8 (Bloomberg) -- President Obama speaks on the economy in New Orleans. (Source: Bloomberg)

Stop doing things that undermine our businesses and our economy over the past two years.

There is this constant cycle of manufactured crises and self- inflicted ones that have been coming out of washington.

For example, we learned yesterday that over the summer, our economy grew at its fastest pace of the year, that's the good news.

The bad news is that the day the economic quarter ended, some folks in washington decided to shut down the government and threaten to default on america's obligations for the first time in more than 200 years.

It's like the gears of our economy, it every time they're just about to take off, suddenly someone taps the brakes and says not so fast.

[laughter] now, our businesses are resilient and we got great workers so as a consequence, we added about 200,000 new jobs last month but there is no question that the shutdown harmed or jobs market.

The unemployment rate still ticked up and we don't yet know all the data for this final quarter of the year but it could be down because of what happened in washington.

That makes no sense.

These self-inflicted wounds on have to happen.

They should not happen again.

We should not be injuring herself every few months, we should invest in ourselves.

We should be building, not tearing things down.

Rather than re-fighting the same old battles, we should be fighting to make sure everybody who works hard in america and hard right here in new orleans, that they have a chance to get ahead.

That's what we should be focused on.

[applause] which brings me to one of the reasons i am here.

One thing we should be focused

This text has been automatically generated. It may not be 100% accurate.


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