At the end of his Midwest bus tour, CBS News senior business correspondent Anthony Mason interviewed President Obama for this week’s “Sunday Morning” program. Mason asked Mr. Obama which way he thinks the economy is headed.
Obama: I think what the markets were reacting to was the fact that the economy has not grown as quickly as it needs to. There have been a lot of headwinds: the European debt crisis, Japan, high gas prices from the Arab Spring and what a lot of folks are worried about is that the recovery that we have been on is stalling or not moving as quickly as it needs to.
Mason: Do you think we’re in danger of another recession?
Obama: I don’t think we’re in danger of another recession but we are in danger of not having a recovery that’s fast enough to deal with what is a genuine unemployment crisis for a whole lot of folks out there and that’s why we need to be doing more.