Presidential Warning

Obama Says We Must Reduce Debt

"The government is going to have to get serious about reducing our debt levels," President Barack Obama told his Economy Recovery Advisory Board Monday. This was the board's second meeting with the president; it was established to provide the White House with an independent voice on the economy. While saying that the government's focus must also be on job growth, Obama said that the private sector must lead the way. The president indicated that unemployment figures will get worse before they get better. “We anticipate that we are going to see some job losses in the weeks and months to come,” Obama said.