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Thursday 1 September 2011

US econ. suffered heart attack: Obama

US President Barack Obama says that the country's economy has had a "heart attack" and is not recovering fast enough amid the evidence that the economic growth is very sluggish.


"This is a situation where the economy essentially had a heart attack, and the patient lived, and the patient is getting better, but it's getting better very slowly," Obama said on the "Tom Joyner Morning Show" on Tuesday, AFP reported.

"What we went through, was the worst financial crisis since the Great Depression, and typically after financial recessions, financial crises like this, it takes a long time for the patient to heal," Obama added.

The president is going to have a speech next week on jobs and cutting the US deficit, as an attempt to boost the economic growth and gain credit for it prior to the 2012 elections.

"My attitude is that my job is to present the best plans possible. Congress needs to act," he said.

Obama added that if the Congress does not act properly and promptly, he will start talking to the American people explaining everything clearly so that the public can see "whose vision of America is better."

He said that his next week speech will include infrastructure spending to upgrade the country's roads, bridges and schools, as well as extending a payroll tax cut and jobless aid.

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