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Barack Obama delivers statement on US economy – US politics live Barack Obama delivers statement on US economy – US politics live
(40 minutes later)
11.45am: One line from the president's news conference that is raising online eyebrows: "The private sector is doing fine."
The line was in a response to a question about criticism that the president is blaming troubles in Europe for a lagging American economy. The president basically replied that he's not blaming Europe but he will blame Congress, thank you very much. He attacked Congress for not extending a hand to state and local governments. Here's what he said:
"We've created 4.3 million jobs over the past 27 months. The private sector is doing fine. Where we're seeing problems is with state and local government. Often with cuts initiated by governors or mayors who are not getting the kind of help they're accustomed to from the federal government.
"IF Republicans want to be helpful... what they should be thinking about is how do we help state and local governments."
The "private sector" line was a one-beat step toward the point the president was making about how Congress has hung local governments out to dry.
Still it doesn't sound very good on its own. IN contrast to the public sector the private sector may be doing "fine." But by most other measures it's still touch-and-go.
Is private sector doing "fine"? If you mean "between bad and good," yes. But no, not if you mean "satisfactory." bit.ly/LdhcIR
— David Leonhardt (@DLeonhardt) June 8, 2012
11.35am: Retail politics. Nice tablecloths.
PIC: Gov chatting with local Iowans in Council Bluffs. #Mitt2012 twitter.com/dgjackson/stat…
— Mitt's Body Man(@dgjackson) June 8, 2012
11.15am: Join us for a chat in just over an hour: What do you think of what the president said? What do you think about the race so far?11.15am: Join us for a chat in just over an hour: What do you think of what the president said? What do you think about the race so far?
After covering the Wisconsin elections and Fed chairman Ben Bernanke's statements to Congress this week, Richard Adams is taking a slight breather to chat with readers about the week's news – including President Obama's earlier comments on the US economy, and what Clinton's support may mean for Obama ahead of November.After covering the Wisconsin elections and Fed chairman Ben Bernanke's statements to Congress this week, Richard Adams is taking a slight breather to chat with readers about the week's news – including President Obama's earlier comments on the US economy, and what Clinton's support may mean for Obama ahead of November.
If you're a regular commenter, we invite you to chat with us in real-time by using the module above. You'll be able to use it from 1230 ET until 130 ET and access the chat transcript afterwards. You can also ask questions on Twitter using the #USPoliticsLive hashtag or log into our Guardian US Facebook page to follow along.If you're a regular commenter, we invite you to chat with us in real-time by using the module above. You'll be able to use it from 1230 ET until 130 ET and access the chat transcript afterwards. You can also ask questions on Twitter using the #USPoliticsLive hashtag or log into our Guardian US Facebook page to follow along.
11.07am: The next question refers to consecutive NY Times front-page reports on the presidential "kill list" of terrorists and the White House cyberwarfare program.11.07am: The next question refers to consecutive NY Times front-page reports on the presidential "kill list" of terrorists and the White House cyberwarfare program.
How did the story leak? How do you answer accusations that the information was leaked to make you look tough on national security?How did the story leak? How do you answer accusations that the information was leaked to make you look tough on national security?
The president answers:The president answers:
"First of all I'm not going to comment on the details of what are supposed to be classified items. Secondly, as Commander in Chief, the issues that you've mentioned touch on national security, touch on critical issues of war and peace, and they're classified for a reason. Because they're sensitive. Because the people involved may be in danger ... and when this information surfaces on the front page of newspapers, that makes the job of folks on the front line tougher, and it makes my job tougher. Which is why since I've been in office the policy has been zero tolerance.""First of all I'm not going to comment on the details of what are supposed to be classified items. Secondly, as Commander in Chief, the issues that you've mentioned touch on national security, touch on critical issues of war and peace, and they're classified for a reason. Because they're sensitive. Because the people involved may be in danger ... and when this information surfaces on the front page of newspapers, that makes the job of folks on the front line tougher, and it makes my job tougher. Which is why since I've been in office the policy has been zero tolerance."
The president says some leaks are "criminal acts."The president says some leaks are "criminal acts."
He is coming down quite hard on the question. He threatens leakers with retribution. THen he attacks the idea that the information about the terrorist "Kill list" and about the cyberwarfare program was deliberately leaked by the White House to burnish the president's toughness on national security in an election year.

"THe notion that my White House would purposely release classified security information is offensive. It's wrong. And People I think need to have a better sense of how I approach this office and how people around me approach this office. We're dealing with the safety and security of the American people ... and so we don't play with that."
He is coming down quite hard on the question. He threatens leakers with retribution. THen he attacks the idea that the information about the terrorist "Kill list" and about the cyberwarfare program was deliberately leaked by the White House to burnish the president's toughness on national security in an election year.

"THe notion that my White House would purposely release classified security information is offensive. It's wrong. And People I think need to have a better sense of how I approach this office and how people around me approach this office. We're dealing with the safety and security of the American people ... and so we don't play with that."
"The writers of these articles have stated unequivocally that this information has not come from the White House.""The writers of these articles have stated unequivocally that this information has not come from the White House."
11.01am: A second question: Discuss accusations that you are blaming your administration's poor economic performance on Europe.
Also, what do you make of President Clinton's remarks suggesting that it might be a good idea to extend the Bush tax cuts?
11.01am: A second question: Discuss accusations that you are blaming your administration's poor economic performance on Europe.
Also, what do you make of President Clinton's remarks suggesting that it might be a good idea to extend the Bush tax cuts?
Obama says the economy is global and the US isn't insulated from European economic turmoil. "What we try to do is to be constructive, to not frame this as us scolding them, but to give them advice based on our experiences here" in shoring up the financial sector.Obama says the economy is global and the US isn't insulated from European economic turmoil. "What we try to do is to be constructive, to not frame this as us scolding them, but to give them advice based on our experiences here" in shoring up the financial sector.
The president moves on to a discussion of the US economy and Clinton's remarks. He begins with a discussion of economic dynamics. He says there are short-term and long-term problems.The president moves on to a discussion of the US economy and Clinton's remarks. He begins with a discussion of economic dynamics. He says there are short-term and long-term problems.
The short-term problem is putting people back to work and stoking growth. The long-term problem is sustainable growth. The point Clinton made, Obama explains, is that the government must avoid cutting short a nascent growth cycle.The short-term problem is putting people back to work and stoking growth. The long-term problem is sustainable growth. The point Clinton made, Obama explains, is that the government must avoid cutting short a nascent growth cycle.
Obama turns to the question of blaming Europe.Obama turns to the question of blaming Europe.
"We've created 4.3 million jobs over the past 27 months. THe private sector is doing fine. Where we're seeing problems is with state and local government. Often with cuts initiated by governors or mayors who are not getting the kind of help they're accustomed to from the federal government."We've created 4.3 million jobs over the past 27 months. THe private sector is doing fine. Where we're seeing problems is with state and local government. Often with cuts initiated by governors or mayors who are not getting the kind of help they're accustomed to from the federal government.
"IF Republicans want to be helpful... what they should be thinking about is how do we help state and local governments.""IF Republicans want to be helpful... what they should be thinking about is how do we help state and local governments."
10.52am: First question is about European debt crisis.10.52am: First question is about European debt crisis.
"The situation in Europe is not simply a debt crisis." The president says Greece faces debt. But there's also a housing crisis and a financial crisis. "The markets are getting nervous, and that makes it much more difficult to borrow.""The situation in Europe is not simply a debt crisis." The president says Greece faces debt. But there's also a housing crisis and a financial crisis. "The markets are getting nervous, and that makes it much more difficult to borrow."
The president says he's been talking with European leaders regularly about solutions to the economic crisis. "The challenges they face are solvable. RIght now their focus has to be on strengthening their banking system, much as we did in 2009 and 2010."The president says he's been talking with European leaders regularly about solutions to the economic crisis. "The challenges they face are solvable. RIght now their focus has to be on strengthening their banking system, much as we did in 2009 and 2010."
Obama is comfortable on the European crisis. Now he's moving on to the challenge of achieving growth as "countries like Spain and Italy" carry out structural reforms – "everything from tax collection to labor markets, a whole host of different issues."Obama is comfortable on the European crisis. Now he's moving on to the challenge of achieving growth as "countries like Spain and Italy" carry out structural reforms – "everything from tax collection to labor markets, a whole host of different issues."
10.47am: The president speaks. He jumps right into the state of the economy. He says the United States is working back from the deepest economic crisis since the Great Depression. He mentions 4.3 million new jobs created under his administration. He says Europe is a mess.10.47am: The president speaks. He jumps right into the state of the economy. He says the United States is working back from the deepest economic crisis since the Great Depression. He mentions 4.3 million new jobs created under his administration. He says Europe is a mess.
Obama is talking about Europe. He calls on European leaders to inject capital into their economies and to collaborate on the budgeting process and banking policy. On Greece, "It is in everybody's interest that Greece remain in the Euro-zone while respecting its need for reform."Obama is talking about Europe. He calls on European leaders to inject capital into their economies and to collaborate on the budgeting process and banking policy. On Greece, "It is in everybody's interest that Greece remain in the Euro-zone while respecting its need for reform."
The president is talking mostly about Europe. He mentions Merkel and Hollande and calls for a "growth agenda" to go with austerity plans. "The sooner they act, the sooner people and markets will regain confidence and the easier cleanup will be down the road."The president is talking mostly about Europe. He mentions Merkel and Hollande and calls for a "growth agenda" to go with austerity plans. "The sooner they act, the sooner people and markets will regain confidence and the easier cleanup will be down the road."
Now Obama goes after Congress. He says Congress failed to pass the American Jobs Act when he presented it last September.Now Obama goes after Congress. He says Congress failed to pass the American Jobs Act when he presented it last September.
"Congress refused to pass this jobs plan in full. They did act on a few parts, most importantly the payroll tax cut... [but] they left most of the jobs plan just sitting there. And in light of the headwinds we face right now I'm asking them to reconsider.""Congress refused to pass this jobs plan in full. They did act on a few parts, most importantly the payroll tax cut... [but] they left most of the jobs plan just sitting there. And in light of the headwinds we face right now I'm asking them to reconsider."
Obama says Congress could put unemployed firefighters and nurses back to work. He calls on Congress to pass legislation giving homeowners a break on their mortgages. He calls for tax breaks on business that hire new workers.

"There's no excuse for not passing these ideas. We know they can work. If Congress decides in spite of all this that they're not going to do this because it's an election year, they should explain to the American people why."
Obama says Congress could put unemployed firefighters and nurses back to work. He calls on Congress to pass legislation giving homeowners a break on their mortgages. He calls for tax breaks on business that hire new workers.

"There's no excuse for not passing these ideas. We know they can work. If Congress decides in spite of all this that they're not going to do this because it's an election year, they should explain to the American people why."
10.32am: President Obama is about to speak on the economy at the White House. He's expected to take questions. The press corps has just received a two-minute warning. We're going to listen in.10.32am: President Obama is about to speak on the economy at the White House. He's expected to take questions. The press corps has just received a two-minute warning. We're going to listen in.
10.15am: Hello, and welcome to today's politics live blog. It's Tom McCarthy here in New York, but here's my colleague Ryan Devereaux with a round-up:

Mitt Romney and the Republican party raised $76m last month, marking the first time the GOP candidate has collected more money than president Obama. Yesterday Obama and the democrats reported raising $60m in May. Romney's latest fund raising total also tops the $40m he and the Republicans collected in April.
10.15am: Hello, and welcome to today's politics live blog. It's Tom McCarthy here in New York, but here's my colleague Ryan Devereaux with a round-up:

Mitt Romney and the Republican party raised $76m last month, marking the first time the GOP candidate has collected more money than president Obama. Yesterday Obama and the democrats reported raising $60m in May. Romney's latest fund raising total also tops the $40m he and the Republicans collected in April.
Romney has released a new ad directly challenging the president's persistent attacks on his record as governor of Massachusetts. The ad claims Romney oversaw "the best jobs record in a decade" and "balanced every budget without raising taxes." In recent weeks the president's team has repeatedly targeted Romney's record in the state, painting him as an abysmal failure.Romney has released a new ad directly challenging the president's persistent attacks on his record as governor of Massachusetts. The ad claims Romney oversaw "the best jobs record in a decade" and "balanced every budget without raising taxes." In recent weeks the president's team has repeatedly targeted Romney's record in the state, painting him as an abysmal failure.
Former presidential candidate Rick Santorum has started new organization intended to raise money for fellow Republicans and push them to be more conservative. Santorum unveiled Patriot Voices on Fox and Friends this morning. "A lot of people have some basic anxiety about where America is going, and I tried to talk about those [issues] in the campaign," Santorum said. "The adherence to the constitution, and the importance of understanding where our rights come from and who we are as a people, and the culture and how that is being changed by this administration, whether it's liberty or life or marriage," are all issues Santorum says Patriot Voices will respond to.Former presidential candidate Rick Santorum has started new organization intended to raise money for fellow Republicans and push them to be more conservative. Santorum unveiled Patriot Voices on Fox and Friends this morning. "A lot of people have some basic anxiety about where America is going, and I tried to talk about those [issues] in the campaign," Santorum said. "The adherence to the constitution, and the importance of understanding where our rights come from and who we are as a people, and the culture and how that is being changed by this administration, whether it's liberty or life or marriage," are all issues Santorum says Patriot Voices will respond to.
Santorum enthusiastically describes the group in this video while wearing sweater vest with his own name stitched on the front.Santorum enthusiastically describes the group in this video while wearing sweater vest with his own name stitched on the front.
Kentucky senator Rand Paul, son of Texas congressman and presidential hopeful Ron Paul, has endorsed Romney. The junior Paul articulated his support for the former governor less than 24 hours after his father issued a statement to supporters saying that he would not collect enough delegates to win the nomination.Kentucky senator Rand Paul, son of Texas congressman and presidential hopeful Ron Paul, has endorsed Romney. The junior Paul articulated his support for the former governor less than 24 hours after his father issued a statement to supporters saying that he would not collect enough delegates to win the nomination.