WASHINGTON: Asserting that the once-shattered U.S. economy was now “healthier” and had made “steady” and “real” progress over the past few years, President Barack Obama has said that it was America and not India or China that was the most attractive investment destination in the world.
“Because of all these things, our economy isn’t just primed for steadier, more sustained growth; America is better poised to lead and succeed in the 21st century than any other nation on Earth. We’ve got the best cards,” Obama said.
“Business leaders from around the world have said the world’s most attractive place to invest is not India or China, it’s the United States of America,” Obama said in his address on economy in Illinois.
“That’s because the financial sector is healthier; because manufacturing is healthier; because the housing market is healthier; because health care inflation is at a 50-year low; because our energy boom is at new highs,” he said.
Obama said the U.S. economy was back on track and was now creating jobs than laying employees off.
“As Americans, we can and should be proud of the progress that our country has made over these past six years,” he said.
“When I took office, businesses were laying off 800,000 Americans a month. Today, our businesses are hiring 200,000 Americans a month. The unemployment rate has come down from a high of 10 per cent in 2009, to 6. 1 per cent today,” he said.
Over the past four and a half years, the businesses have created 10 million new jobs; this is the longest uninterrupted stretch of private sector job creation in the history.
“Right now, there are more job openings than at any time since 2001. All told, the United States has put more people back to work than Europe, Japan, and every other advanced economy combined,” Obama said.
The U.S. President said this progress has been hard, but it has been steady and it has been real.
“It is the direct result of the American people’s drive and their determination and their resilience, and it’s also the result of sound decisions made by my administration,” he said.
“So it is indisputable that our economy is stronger today than when I took office. By every economic measure, we are better off now than we were when I took office. At the same time, it’s also indisputable that millions of Americans don’t yet feel enough of the benefits of a growing economy where it matters most and that’s in their own lives,” Obama said.
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