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U.S. President Barack Obama says the first signs of an economic recovery are beginning to emerge. But at the same time he warns the process is only beginning and much hard work lies ahead.
President Barack Obama delivers remarks on the economy, Tuesday, 14 April 2009, at Georgetown University in Washington
With his administration about to reach the symbolic1 hundred day marker, the president went before the American people with an assessment2 of the economy.
He said the measures he has put in place in his first months in office are beginning to bear fruit. But he acknowledged 2009 will continue to be a difficult year.
"There is no doubt that times are still tough," said Mr. Obama. "By no means are we out of the woods just yet. But from where we stand, for the very first time, we are beginning to see glimmers3 of hope."
In a speech at Georgetown University, a short drive from the White House, President Obama mixed optimism with a dose of reality.
Sounding at times like a college professor, he spoke4 in great detail about action already taken to stimulate5 the economy, free up credit, and repair the damaged financial sector6.
"All of these actions - the Recovery Act, the bank capitalization program, the housing plan, the strengthening of the non-bank credit market, the auto7 plan, and our work at the G20 - all have been necessary pieces of the recovery puzzle," he said.
But he said these efforts must be just the beginning of a sustained often difficult drive to put the economy on a sounder footing.
Using a Bible story to make his point, he said America can not rebuild its economic foundation on a pile of sand.
"We must build our house upon a rock," continued President Obama. "We must lay a new foundation for growth and prosperity - a foundation that will move us from an era of borrow and spend to one where we save and invest; where we consume less at home and send more exports abroad."
President Obama said that stronger foundation will require new rules for Wall Street, and new investments in education, renewable energy and health care.
Critics charge he is advocating reckless government spending in tough economic times.
The president said that view is shortsighted. He said what is needed is the political will to make difficult decisions.
"We have been called to govern in extraordinary times. And that requires an extraordinary sense of responsibility - to ourselves, to the men and women who sent us here, and to the many generation whose lives will be affected8 for good or for ill because of what we do here," he said.
The head of the U.S. central bank echoed some of Mr. Obama's remarks in a speech of his own on Tuesday. Federal Reserve Chairman Ben Bernanke said there have been signs that the sharp decline in economic activity may be slowing. But he also made clear a sustainable recovery hinges on the ability to stabilize9 financial markets, and get credit flowing freely again.
1 symbolic | |
adj.象征性的,符号的,象征主义的 | |
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2 assessment | |
n.评价;评估;对财产的估价,被估定的金额 | |
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3 glimmers | |
n.微光,闪光( glimmer的名词复数 )v.发闪光,发微光( glimmer的第三人称单数 ) | |
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4 spoke | |
n.(车轮的)辐条;轮辐;破坏某人的计划;阻挠某人的行动 v.讲,谈(speak的过去式);说;演说;从某种观点来说 | |
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5 stimulate | |
vt.刺激,使兴奋;激励,使…振奋 | |
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6 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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7 auto | |
n.(=automobile)(口语)汽车 | |
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8 affected | |
adj.不自然的,假装的 | |
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9 stabilize | |
vt.(使)稳定,使稳固,使稳定平衡;vi.稳定 | |
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