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Tuesday, November 1, 2011
Obama U.S. growth key to global recovery
Adjusting the tone of his trip to the G-20 summit in France next week, President Obama said Friday the leaders of the world’s most important step to stimulate the world economy is to “get the economy U.S. is growing faster. “
The summit, which comes at a time of financial turmoil in Europe and sluggish growth in the U.S., will include leaders of major industrialized countries and rising powers such as China, India and Brazil.
“As the largest economy in the world, the United States continue to lead,” Obama wrote in an editorial in the Financial Times. “That is why my priority is to put Americans to work. That’s why I proposed the American Jobs Act, which independent economists said would almost 2 million jobs, stimulate demand and increase U.S. economic growth. “
The G20 leaders will meet in Cannes, France Thursday and Friday. As they prepare to meet the heads of the European Union reached an agreement this week on a rescue plan for Greece and a program to increase the money in an emergency fund to help others nations struggling with heavy debt.
“The crisis in Europe must be resolved as quickly as possible,” Obama said. “This week, our European allies made significant progress on a strategy to restore confidence in European financial markets, laying the essential foundations on which to build. “
He added: “Given the magnitude of the challenge and threat to the global economy, it is important to us all that this strategy is implemented successfully – including the construction of a firewall that prevents credible spread of the crisis, the strengthening of European banks, a sustainable route for Greece and the resolution of structural problems in the heart of the current crisis. “
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