President Obama Joins the Announcement Effect Club

Jun 14, 2011 | Economics

Yesterday while making comments about the Jobs and Competitiveness Council, President Obama made some remarks that qualified him to be the newest member of CRFB's Announcement Effect Club. Here's what caught our attention (from Politico):

Obama also sought Monday to link the deficit-cutting talks and the issue identified in polls by most Americas as their top concern: job creation.

"The thing I want to emphasize is that we need to solve our medium- and long-term debt and deficit issues not for abstract reasons, but because they are a concrete impediment to growth and jobs," Obama said.

"So the American people need to know that over the next month, as we focus on making sure that we have a balanced, thoughtful resolution to this problem, this isn't to the exclusion of worrying about jobs, but is actually in service of making sure businesses have enough confidence about the investment environment so that they can start getting off the sidelines and putting more money to work and hiring more people."

As we have reiterated many times, making a firm commitment to reducing our medium and long-term debt and deficits would inspire confidence today in businesses, investors, and individuals, and would have positive effects on the U.S. economy right away. Welcome to the club President Obama, we are very glad to have you!