Obama 2009: Recovery Will Take Months… Obama 2011: Recovery Will Take Years
President Barack Obama April 2009: The recovery will take months.
President Barack Obama said it will take “many more months” for the U.S. to fully recover from the recession as employers continue to eliminate jobs.
The president said in his weekly address on the radio and the Internet that yesterday’s government report on the gross domestic product showed the recession was “even deeper than anyone thought” when he took office in January. The stimulus legislation passed by Congress in February and measures to stem home foreclosures have helped stem the slide, he said.
President Barack Obma May 2011: The recovery will take years.
Via Real Clear Politics:
So — so part of what’s happened also is some structural changes in the economy. Where it used to be that there was broad-based shared prosperity, now if companies are doing really well — they’re not necessarily hiring back workers. They’re just figuring out how to do more with fewer workers. That may increase profits, but it doesn’t help folks who are lookin’ for a job. And often times that look — puts a lot of pressure on the people who are already on the job.
So, some of the changes that are taking place in the economy are ones that took a decade or two to get to. And it’s gonna take us several years for us to get back to where we need to be.