Obama Economy

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Thursday, November 11, 2010 - 10:14am

The economy takes center stage both here and abroad.

Surrounded by U.S. troops thousands of miles from home, President Obama marked Veterans Day in South Korea.

"We all want you to know this: We remember. We remember your courage. We remember your sacrifice," said President Obama.

But as world leaders joined the President in Korea for the G-20 summit, tensions over the economy soon dominated the day.

The President attended dinner with leaders and met privately with some including China's Hu Jintao.

"I am very much looking forward to hosting President Hu in Washington. And in the meantime, we have created a structure, a strategic and economic dialogue, in which our teams have been working on a whole range of issues," said President Obama.

The President defended actions to stabilize the U.S. economy.

"If the U.S. isn't growing, that's not good for the rest of the world," said President Obama.

He also wouldn't comment on recommendations released Wednesday by his debt commission proposing cuts to Social Security and federal budgets while raising some taxes.

Back at home there was plenty of criticism…from the right and left.

Richard Trumka of the AFL-CIO said, "Well the chairmen of the Deficit Commission just told working people to drop dead."

The proposals are destined to meet tough opposition.


 

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