Obama: I Inherited Economic Woes

Is it time to remind President Obama that he wanted his current job? Speaking at a fundraiser Monday night where families paid $15,000 to take a picture with him, Obama said the country’s debt and deficit problems were already in place before he took office. “We have a serious problem in terms of debt and deficit, and much of it I inherited,” Obama said to the crowd of about 140. He added that the financial crisis made the problem worse, although he said that in his 17 months in office, there had been consecutive private-sector job growth, rising corporate profits, and stabilized credit markets. Obama is pushing Congress to extend a payroll tax cut and unemployment insurance, but he was not optimistic about Congress’ ability to get these things done.