WASHINGTON — US President Barack Obama defended his administration's response to the economic crisis over the last six months, declaring: "The fire is now out."
"I think that we have stepped back from the abyss. I think we've put out the fire," he said in an interview with PBS, according to a transcript released by the TV station.
But Obama, who is facing declining popularity ratings for the first time in his presidency, said a lot remains to be done to fix the recession-mired US economy.
"The analogy I use sometimes is, we had this beautiful house. And there was a fire. We came in and we had to hose it down. The fire is now out, but what we've discovered is, we need some new tuckpointing, the roof's leaking, the boiler's out, oh, and by the way, we're way behind on our mortgage," Obama said
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http://www.google.com/hostednews/afp...y1nevkGcu5Qmlw
"I think that we have stepped back from the abyss. I think we've put out the fire," he said in an interview with PBS, according to a transcript released by the TV station.
But Obama, who is facing declining popularity ratings for the first time in his presidency, said a lot remains to be done to fix the recession-mired US economy.
"The analogy I use sometimes is, we had this beautiful house. And there was a fire. We came in and we had to hose it down. The fire is now out, but what we've discovered is, we need some new tuckpointing, the roof's leaking, the boiler's out, oh, and by the way, we're way behind on our mortgage," Obama said
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http://www.google.com/hostednews/afp...y1nevkGcu5Qmlw
Well, let me give you an illustration: Suppose my neighbor’s home catches fire, and I have a length of garden hose 400 or 500 feet away. If he can take my garden hose and connect it up with his hydrant, I may help him to put out his fire. Now, what do I do? I don’t say to him before that operation, "Neighbor, my garden hose cost me $15; you have to pay me $15 for it." What is the transaction that goes on? I don’t want $15--I want my garden hose back after the fire is over. All right. If it goes through the fire all right, intact, without any damage to it, he gives it back to me and thanks me very much for the use of it. But suppose it gets smashed up--holes in it--during the fire; we don’t have to have too much formality about it, but I say to him, "I was glad to lend you that hose; I see I can’t use it any more, it’s all smashed up." He says, "How many feet of it were there?" I tell him, "There were 150 feet of it." He says, "All right, I will replace it." Now, if I get a nice garden hose back, I am in pretty good shape.
http://www.britannica.com/bps/additi...for-Lend-Lease
http://www.britannica.com/bps/additi...for-Lend-Lease
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