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US not to accept 2nd place in world economy while India, China race for top: Obama | United States President Barack Obama on Thursday said the US cannot accept second place for itself in the world economy and should become serious about fixing its problems, as the worst of the global financial crisis is over.
Speaking during his first State of the Union address to the Congress, Obama sought
to draw everyone's attention on India and China as the countries that are going ahead
with economic revamp, and said: "Washington has been telling us to wait for
decades, even as the problems have grown worse. Meanwhile, China's not waiting to
revamp its economy. Germany's not waiting. India's not waiting. These nations aren't
standing still. These nations aren't playing for second place. They're putting more
emphasis on maths and science. They're rebuilding their infrastructure. They are
making serious investments in clean energy because they want those jobs." During his
69-minute speech, Obama said he would not accept a second place of America, the
only superpower. "Well, I do not accept second place for the United States of
America. As hard as it may be, as uncomfortable and contentious as the debates may
be, it's time to get serious about fixing the problems that are hampering our growth,"
Obama said. Obama, who delivered his first State of the Union address against a
backdrop of an American public worried about the fallout of the meltdown, said the
worst of the storm has passed. But the devastation remains. Obama conceded that
one in 10 Americans still could not find work, many businesses have shuttered and
small towns and rural communities have been hit especially hard. The recession has
also compounded the burdens of American families. To overcome the crisis, Obama
proposed a 30-billion dollars plan under which the money Wall Street banks have
repaid and use it to help community banks give small businesses the credit they need
to stay afloat. He said: "These steps won't make up for the seven million jobs that
we've lost over the last two years... The only way to move to full employment is to
lay a new foundation for long-term economic growth." In his Union address,
President Barack Obama tried to turn back the clock and took Americans to his
campaign days by frankly telling them that "I never suggested that change would be
easy." "I campaigned on the promise of change - change we can believe in, the
slogan went. And right now, I know there are many Americans who aren't sure that
they still believe we can change - or at least, that I can deliver it. But remember this
I never suggested that change would be easy, or that I could do it alone," Politico
quoted Obama as saying during his address to a joint session of Congress. Obama
sent a clear signal that he'll try to regain voters' confidence with a sharp focus
on fixing the recession and creating jobs. "Jobs must be our number one focus
in 2010, and that is why I am calling for a new jobs bill tonight. People are
out of work. They are hurting. They need our help. And I want a jobs bill on my
desk without delay," Obama roared. |
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