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June 11, 2012

Obama: Public Sector Job Recovery Lagging Behind Private Sector 
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President Obama took criticism from Republicans over the weekend after
saying the private sector is "doing fine." Obama was comparing the
private sector's gain of 4.3 million jobs in the past 27 months to the
public sector's loss of 550,000 jobs over the same period. On Friday,
Obama clarified his stance.

President Obama: "The economy's not doing fine. There are too many
people out of work, the housing market is still weak and too many homes
under water, and that's precisely why I asked Congress to start taking
some steps that could make a difference. What I've been saying
consistently over the last year, we've actually seen some good momentum
in the private sector. We've seen 4.3 million jobs created, 800,000 this
year alone. Record corporate profits. And so that has not been the
biggest drag on the economy."

 

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