• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Obama: Debt fight fuels uncertainty

Jul 08 2011 18:57
Reuters
Washington  - US President Barack Obama cited gloomy jobs numbers as one more reason lawmakers must strike a deal soon to raise the US debt limit, saying the impasse was fueling uncertainty within financial markets and in the business sector.
 
Obama said companies have been more reluctant to invest and hire because of several factors, including the debt ceiling impasse and turmoil in the global economy triggered by the crisis in Greece.
 
“The problems in Greece and in Europe along with uncertainty over whether the debt limit here in the United States will be raised have also made businesses hesitant to invest more aggressively,” he said in an appearance in the Rose Garden.
 
He spoke after the US unemployment rate hit 9.2%, a six-month high, while employers added a mere 18 000 workers to their payrolls, the weakest reading since September. The Labor Department report painted a bleaker picture of the economy than private economists had expected.
 
Obama said the numbers underscored the challenge of getting the economy fully back on track in the aftermath of the 2008-2009 financial crisis.
 
He promised to “roll up” his sleeves to work with lawmakers on an agreement to raise the debt limit and reduce deficits.
“The sooner we get this done, the sooner that the markets know that the debt limit ceiling will have been raised,” Obama said.
barack obama  |  washington  |  us debt limit  |  us economy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...