Bloomberg News

Obama Says Events Outside U.S. ‘Darkened’ Economic Outlook

October 11, 2011

Oct. 11 (Bloomberg) -- President Barack Obama said the European debt crisis and disruptions caused by the tsnuami in Japan are among the forces tht have “darkened the outlook” for the U.S. economy.

Obama also cited the “fiasco” of the extended debate over raising the federal debt ceiling as harming growth. The president is in Pittsburgh addressing a meeting of his council on jobs and competitiveness, which is presenting recommendations to spur hiring.

Among its recommendations is an initiative to attract $1 trillion in foreign direct investment within five years and upgrading the nation’s transportation and energy infrastructure.

To contact the reporter on this story: Margaret Talev in Pittsburgh at mtalev@bloomberg.net

To contact the editor responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net


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