Obama Defends the nation's Economic Crisis?

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In the second prime time news of President Barack Obama's conference, Obama had announce his promising proposal to the public regarding our current economic crisis. He stated that we will fight and recover from this financial problem that we are undergoing. He says that there will be a guarantee to a recovery plan, but it may not happen immediately for it will take time. And most essentially, it'll require cooperation from everyone.
"We'll recover from this recession, but it will take time, it will take patience, and it will take an understanding that, when we all work together...."









President Obama also announced that one of our primary focus is to concentrate on the long-term growth of our society. He said that he will be focusing on those such as health care, energy, education, and other critical needs for this country as he tends to reduce the budget deficit. And of course, based on my previous postings, Obama also tends to keep his current treasury secretary, Timothy Geithner, whom many are attempting and looking fowards to his resignation.




What they're trying to achieve is to purchase an approximate $500 billion of existing assets and loans, after the removal of the past troubled and misguiding assets from banks. And with the failure of the financial institutes such as AIG and their previous bonuses with the $170 billion.
"Keep in mind that it is precisely because of the lack of this authority that the AIG situation has gotten worse."

And of course, Obama had mentioned about the situation in Afghanistan and Iraq, and the violence in New Mexico along with his current progress as the 44th president of the United States ever since the inauguration.