Obama reaffirms to build new foundation for U.S. economy

08:26, June 03, 2010      

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In an effort to push his reform agenda, U.S. President Barack Obama reaffirmed Wednesday that the United States need to build a new foundation as the economy emerges from the recession.

In his remarks at Carnegie Mellon University, Obama outlined economic achievements of his administration and emphasized the policies that he intended to implement to build a stronger economy in the future.

STATE OF THE U.S. ECONOMY

Obama's remarks highlighted the progress that has been made in building the "new foundation" for growth and prosperity that the president called for a year ago.

That new foundation, Obama said at Georgetown University in April 2009, would be built on five pillars: new rules for Wall Street; investments in education, renewable energy and health care; and reductions in federal spending to bring down budget deficits.

In the new remarks, Obama reaffirmed that the foundation is not only based on investments, but also based on reforms.

Compared with a year ago, the state of the U.S. economy improved considerably.



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