Obama says economy is 'not out of the woods'

WASHINGTON - (AP) - He's talking about "glimmers of hope" for theeconomy, but President Barack Obama is also warning that "by nomeans are we out of the woods."

In a speech today at Georgetown University, Obama sought tobalance his recent hopeful words on the economy with a sign thathe's not ignoring the lingering problems.

He also argued that his broad domestic agenda is the path torecovery.

The speech came as Obama nears his 100-day mark in office. It'sbecome a traditional marker by which to judge new administrations.

Obama warned that while "times are still tough," it's possibleto see "way off in the distance" a future that is "far differentthan our troubled economic past."

He says the economy needs to be transformed, so that it's lessdependent on a financial sector that is obsessed with risk, andmore dependent on clean energy, good education, and reined-inhealth care costs.

He spoke on the same day that Fed chairman Ben Bernankesuggested that the recession may at last be bottoming out.

advertisement | advertise on News 12

Trending Video

VIDEO: Suspected gang members arrested in the Bronx 1 VIDEO: Suspected gang members arrested in the Bronx
Police have released an image of the man 2 Police release image of alleged Beekman Ave. shooter
A whale stranded at Orchard Beach Sunday was 3 Crews euthanize stranded whale after rescue attempts fail
4 Neighborhood Brief for April 23
The New York City nonprofit Guardian Angels stepped 5 Guardian Angels step up patrols in Coney Island

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE