Obama says recovery takes both 'growth and cutting'

Just like he's doing in the United States - except, without the cutting. CSM: Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge. "So far so good," Obama proclaimed after economic talks at Camp David, his secluded and highly secure mountaintop retreat. He played international host in the midst of a re-election bid that will turn on the economy, underscoring his stakes in getting his allies abroad to rally around some answers. Yet there were no bold prescriptions at hand. Instead, leaders seemed intent on trying to inspire confidence by agreeing on a broad strategy no matter their differences. Coping with shaky oil markets, the leaders set the stage for a united release of national oil reserves to balance any disruption in world markets when tough new...(Read Full Post)