Oct. 6 - U.S. President Barack Obama again called on Congress to pass his jobs bill saying the economy needed a ''jolt.'' Deborah Lutterbeck reports
U.S. President Barack Obama said Thursday there was no doubt U.S. economic growth had slowed since the beginning of year calling again on Congress to pass his jobs bill. SOUNDBITE: U.S. President Barack Obama, saying: (English): "Our economy really needs a jolt right now. This is not a game, this is not the time for the usual political gridlock the problems Europe is having today could have a very real impact on our economy at a time when it is fragile." As European leaders are grappling with a crisis of their own, Obama told a White House news conference that Europe must act fast to tackle a potentially devastating debt crisis. SOUNDBITE: U.S. President Barack Obama, saying: (English): "The biggest headwind the American economy is facing right is the uncertainly about Europe, the slowdown is not just happening in the us it is happening everywhere." In the wide-ranging press conference, he also said that China has not done enough to address its currency and is gaming the system to the disadvantage of the United States. SOUNDBITE: U.S. President Barack Obama, saying: (English): "China has been very aggressive in gaming the trading system to its advantage and to the disadvantage of other countries particularly the United States, and I have said that publicly but I have also said that privately to Chinese leaders and currency manipulation is one example of it or at least intervening in the currency markets in ways that have led their currency to be valued lower than the market would normally dictate an that makes their exports cheaper and that makes our exports to them more expensive so we seen some improvement , slight appreciation over the last year, but it is not enough." Obama's re-election chances in 2012 depend on cutting stubbornly high unemployment and firing up the sluggish economy. Deborah Lutterbeck, Reuters.