Obama urges allies to act together to jump-start global economy
The president presses for cooperation on a worldwide scale in advance of next month's G-20 summit, when world leaders will discuss ways to halt the economic crisis.
President Obama today called on other countries to join his efforts to revive the flagging global economy by working together to aggressively stimulate spending, production and tougher regulations.
Speaking to reporters after a meeting with Treasury Secretary Timothy Geithner, Obama noted that the world economy is linked and that allies should act in concert.
Speaking to reporters after a meeting with Treasury Secretary Timothy Geithner, Obama noted that the world economy is linked and that allies should act in concert.
"I'm actually optimistic about this," Obama said of joint efforts to be discussed next month at an economic summit. "Everyone understands that we are in this together."
Geithner said he leaves this week for Britain for talks with the finance ministers of the 20 advanced and developing nations. The meetings are a preparatory step to the G-20 summit next month in London when presidents and prime ministers will discuss steps to ease the worldwide economic meltdown.
In meetings with other leaders, Obama has pressed for global cooperation, a call he repeated this morning.
Geithner said he leaves this week for Britain for talks with the finance ministers of the 20 advanced and developing nations. The meetings are a preparatory step to the G-20 summit next month in London when presidents and prime ministers will discuss steps to ease the worldwide economic meltdown.
In meetings with other leaders, Obama has pressed for global cooperation, a call he repeated this morning.
"We can do a really good job here at home with a whole host of policies, but if you continue to see deterioration in the world economy, that's going to set us back," he said at the televised session with reporters.
"It is very important for the American people to understand that as aggressive as the actions that we are taking have been so far, it is very important to make sure that other countries are moving in the same direction because the global economy is all tied together," he said.
"We need to bring the world together to put in place a very substantial, sustained program of support for recovery and growth," Geithner said. "We want to bring together a new consensus globally on how to strengthen this financial system, so that a crisis like this never happens again."
Obama said the U.S. goals for the summit include concerted action to jump-start the economies and to get agreement on regulatory reform to take place in each country.
Obama has met with several world leaders, including Japanese Prime Minister Taro Aso and British Prime Minister Gordon Brown.
"They're rooting for our success," Obama said today. "We've got to make sure we're rooting for theirs."
"It is very important for the American people to understand that as aggressive as the actions that we are taking have been so far, it is very important to make sure that other countries are moving in the same direction because the global economy is all tied together," he said.
"We need to bring the world together to put in place a very substantial, sustained program of support for recovery and growth," Geithner said. "We want to bring together a new consensus globally on how to strengthen this financial system, so that a crisis like this never happens again."
Obama said the U.S. goals for the summit include concerted action to jump-start the economies and to get agreement on regulatory reform to take place in each country.
Obama has met with several world leaders, including Japanese Prime Minister Taro Aso and British Prime Minister Gordon Brown.
"They're rooting for our success," Obama said today. "We've got to make sure we're rooting for theirs."
WHAT DO YOU THINK ABOUT THIS?
I believe that Obama is overlooking the thought that the US economy is one, if not the most, of the most significant factors in the global economy. Focus on fixing the national economy, please?! Without nationalizing everything?
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