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Obama: Innovation key to improving the United States Economy

The president of the United States, Barack Obama stated Saturday that the future economic prosperity depends on building a strong new foundation, and recapturing the “spirit of innovation.” Innovation has been crucial to our prosperity and will be important to our prosperity in the future,” Obama said in his weekly radio address, transmitted by the internet.

taken over the past six months and have helped the stem of recession.

The U.S. President said the government’s efforts to limit the mortgage embargoes and unfreeze credit markets to encourage banks to lend again to businesses and institutions, together with a mix of tax cuts and the firing of public spending. Obama stated that the recovery will take many months and will not see instantaneous results.

“To rescue this economy, we must work to rebuild and make it stronger than before,” said Obama. “We must build new foundations that are strong enough to support future economic storms and encourage a lasting prosperity.”

Obama insisted on preparing a working class which is the world’s best-educated and more skilled, a health system that encourages innovation to contain costs, promote clean energy and invest in research and development.