Government

The Pelosi Doctrine? Obama Claims Stronger World Hand Despite Failures

YOKOHAMA, Japan (AP) — President Barack Obama claimed a stronger hand on the world stage Friday despite electoral defeats at home, failure to get a free-trade agreement with South Korea and lackluster international support for his get-tough policy with China on trade and currency disputes.

“It wasn’t any easier to talk about currency when I was first elected and my poll numbers were at 65 percent,” Obama argued at the close of the G-20 summit, after bluntly accusing Beijing of undervaluing its currency.

The president flew to Japan for the APEC summit without the coveted trade pact with Korea or a united front with other countries against China’s currency policy. He also endured a gusher of criticism from other countries about a decision by the U.S. central bank to pump $600 billion into the U.S. economy, something China, Germany and others believe could weaken the dollar and lead to inflation.

After the talks here beginning Saturday, Obama will return to the U.S. to confront Republicans empowered by their gains in this month’s midterm elections.

Even so, the president contended that his standing with world leaders is not diminished.

“When I came into office people might have been interested in more photo-ops,” the president said, because of the “hoopla surrounding my election.”

But he contended he has now developed genuine friendships with leaders including Indian Prime Minister Manmohan Singh, German Chancellor Angela Merkel and South Korean President Lee Myung Bak — and even Chinese President Hu Jintao.

“That doesn‘t mean there aren’t going to be differences,” the president added.

Those have been on stark display throughout the G-20 summit, which resulted in a final document in which leaders agreed on various measures to achieve economic stability, none of them enforceable or specific.

Obama contended this constituted victory nonetheless, even as he acknowledged that America’s place in the world has changed — and even if he wouldn’t say his had.

Whereas the U.S. had been the dominant superpower, “We are now seeing a stiuation where a whole host of other countires are doing well and coming into their own and naturally they’re going to be more assertive … and that’s a healthy thing,” the president said.

Obama told a news conference here that progress was made in stabilizing and strengthening the global economy, saying it is now back on “the path to recovery.“ But he also said that nations ”risk slipping back” into peril if they don’t work harder to foster sustained growth, end unfair trade practices and currency manipulation and argued that “countries with large surpluses must shift away from unhealthy dependency on exports” and said that exchange rates “must reflect economic realities.”

Obama said China’s currency “is undervalued.“ He added that Beijing ”spends enormous amounts of money” to keep the yuan in that condition and said it’s critical for China, “in a gradual fashion,” to let markets set the currency’s value.

But Obama’s summit partners declined to endorse his position, issuing a watered-down statement saying only they agreed to refrain from “competitive devaluation” of currencies. Using a slightly different wording favored by the U.S. — “competitive undervaluation” — would have shown the G-20 taking a stronger stance on China’s currency policy.

Of criticism from Germany and other quarters that the Federal Reserve Board engaged in what amounts to currency manipulation by purchasing $600 billion in U.S. Treasury bonds, the president said the move “was not designed to have an impact on the currency, the dollar. It was designed to grow the economy.”

Of the global economy generally, Obama said that while improvements have been made in a number of areas, he and other leaders recognize “progress hasn’t come quickly enough,” particularly in the area of job creation.

“We have a recovery,” he said when asked about lingering high joblessness in America.

“It needs to be speeded up. Government cannot hire back the 8 million people that lost jobs,” he said. “That needs to be done by the private sector,” he said of the economic woes back home in the United States.

Obama reiterated his intent to finalize a long-sought trade agreement with South Korea. A major sticking point remains access to the South Korean market for U.S. autos, but the president expressed confidence that the deal will get done.

“I think that we can find a sweet spot that works both for Korea and the United States,” he said, adding that he was not interested in a trade agreement for the sake of having one.

Obama started this Asian trip in the wake of a political battering at home, as Republicans recaptured the House and significantly curbed the Democratic majority margin in the Senate.

Although he had some deja vu moments in visiting Indonesia, where he spent four years growing up, and announcing a series of confidence-building agreements with both India and Indonesia, the president struck out in his attempt to close a new free-trade pact with Seoul.

It was an embarrassing setback for a president who stressed that the top objective of this trip was to cement agreements that would help create jobs at home, particularly through new trade opportunities with fast-growing economies like China, India and Indonesia.

Obama will confront the same vexing trade and currency issues when he arrives in Yokohama, Japan, later Friday for the summit of the Asia-Pacific Economic Cooperation, which is expected to move on creation of a Pacific-wide free trade zone that would encompass more than half the world’s economic output.

He sought to deflect talk of missed opportunities.

“The work that we do here is not going to seem dramatic. It is not always going to be world-changing. But step to step, what we’re doing is building stronger international mechanisms and institutions“ that will help stabilize the world economy ”and reduce tensions” among nations,” Obama said.

“The easiest thing for us to do would be to take a passive role and just let things drift,” the president said. He acknowledged that “some countries push back” in response to his suggestions about global economic strategy, but said that he will continue to push “to bring about changes.”

On extending Bush-era tax cuts at home, he said, “I want to make sure that taxes don’t go up for middle-income families on January 1. That’s my top priority.” He reiterated that he opposes a permanent extension of those tax breaks for the wealthy.

“I’m not going to negotiate here in Seoul on those issues, but I’ve made very clear what my priorities are,” he said.

He said he hopes to reach agreement with congressional Republicans, when he flies home, on the fate of the tax cuts set to expire next month.

Comments (94)

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  • janddjohnson
    Posted on November 13, 2010 at 3:14pm

    I don’t know about you guys…but I kind of like being a super power. The only super power. If it weren’t for nation building and the idiot in the White House…hummmm

    Report Post » Deanna in Missouri  
  • J.C. McGlynn
    Posted on November 13, 2010 at 3:02pm

    Rose colored glasses she must be wearing or the pot she is smoking. Is that why she always has that glazed, far-away look in her eyes?

    Report Post » J.C. McGlynn  
  • clockwatcher
    Posted on November 13, 2010 at 3:01pm

    Incompetent.

    Report Post » clockwatcher  
  • silentwatcher
    Posted on November 13, 2010 at 2:59pm

    The damage Obama has done thus far is nothing compared to what he is about to. He still has 2 years left to finish his (their) agenda,,,,and it will be far worse than the first two….leaving a mess that will take at least 4 more years to clean up. Then after the four years, the libs will point their fingers saying that it is the Repub’s fault the mess was there. Watch VERY closely what “changes” will come down the line between now and 2012……watch very closely at both hands, not the one up front.

    Report Post »  
  • mjgma
    Posted on November 13, 2010 at 2:54pm

    Yes, I believe he is the President of Photo Ups

    Report Post » mjgma  
  • RobR
    Posted on November 13, 2010 at 2:51pm

    Obama The Failure Gives World Handjob, America All The Weaker For It.

    Report Post » Barack Must Go  
  • Dale
    Posted on November 13, 2010 at 2:47pm

    What else would you expect from an Alinsky activist/organizer?

    Report Post » Dale  
  • Awakenow
    Posted on November 13, 2010 at 2:38pm

    He makes Jimmy Carter look better every day. but oh for another Ronald Regan.

    Report Post » Awakenow  
  • copperpeony
    Posted on November 13, 2010 at 2:37pm

    “Obama contended this constituted victory nonetheless” and we (the United States) are in a recovery.

    This man is delusional amd am embarrasment just like Pelosi is.

    Report Post » copperpeony  
  • Donald
    Posted on November 13, 2010 at 2:33pm

    This guy is a Megalo-manic.
    He is a LEGEND in his own mind…..Progressives.
    Its not him…we just are just too stupid to understand…..who knew.

    Report Post » Donald  
  • RightPolitically
    Posted on November 13, 2010 at 2:30pm

    Is MADAME SPEAKER smokin’ that funny stuff again?

    Report Post » RightPolitically  
  • just the facts
    Posted on November 13, 2010 at 2:26pm

    Barry is still clueless and as far as I’m concerned not relevant. Yea, he’s still our president and one should show respect to that office which I do, but, I no longer can stomach this person. He has set back the United States 20 to 30 years, he has and or is doing the best he can in moving the country toward a socialistic system, (we are in the beginning of it and the progressives do have players in positions to further that agenda), he has sold much of our country to outside sources, and he has destroyed our kids and our grandkids futures. He has done more hurt not to be mentioned here.

    The biggest concern I have now is barry and his people are still in power. Since he is not a true representative of the American people, I consider him dangerous having enough power to really do more deep harm to us. He does not care about the economy, only the progressive agenda. And they have moved swiftly, deliberately, forward into their agenda. Remember all, this process started early in the 1900′s. By the mid 1900′s to now, the “social” programs have grown not only out of hand, but have become an “entitlement” to those who DO NOT deserve them. We have lost the tough love attitude by giving to the unneeded, and providing for the unwilling. Now we are a welfare country or very close to it. It is sad.

    Report Post »  
  • Steverino
    Posted on November 13, 2010 at 2:25pm

    I find it interesting that Obama has an issue with China’s “undervalued currency” but has absolutely no understanding of the effect of pumping 600 billion dollars into our economy. I am not an economics genius, ( though I play one on TV ) but a soup analogy is in order.

    Nice segue, huh?

    Let‘s say it’s a blustery fall afternoon, and you’re making a nice pot of homemade chicken soup. Makes the house smell nice, and warms the tummy. You taste it it, and it seems a bit weak. So, because you’re a soup making genius, you decide the best course is to add more water. Yeah. That’s what any soup making genius would do, right? So, you taste it again, and oddly enough, it seems WEAKER. This is baffling, no? So, once again, as the soup making genius that you are, you add EVEN MORE WATER. When you taste it again, it’s now so weak, it’s hardly edible.

    Next course of action? Serve the soup, and blame its weakness on the previous soup maker!

    WOW. Maybe I AM a genius! Economics and soup making walk hand in hand!!! Who’da thunk it!

    Report Post »  
    • teahugger
      Posted on November 13, 2010 at 3:34pm

      Yes, you are indeed a genius! And I say to Obama “no soup for you!”

      Report Post » teahugger  
  • upsetagainin2010
    Posted on November 13, 2010 at 2:15pm

    Shortly after taking office he expressed his embare-Assment because so few of the US here at home could speak another language. Then went on his apology tour while snubbing our allies. What do you call increased prices at the gas pump or grocery stores?? I call it increased taxes that are hidden, somewhat like Georgie Porgie himself. His strategy is breaking the economy at home.

    Report Post »  
  • oldasdirt
    Posted on November 13, 2010 at 2:15pm

    Here’s good news. After Jan.2012 we can Impeach Obama and Biden and the make Republican Rep. John Boehner of Ohio the new Pres.
    PLEASE!

    Report Post » oldasdirt  
    • oldasdirt
      Posted on November 13, 2010 at 2:23pm

      sorry: should say after Jan.12 2011.

      Report Post » oldasdirt  
    • bookofwisdom
      Posted on November 13, 2010 at 4:02pm

      Honey, don’t get your nickers in a twist over impeachment because Clinton got impeached and he served out his term. Just goes to show, We The People, don’t really have any say unless those we elect decide to do what we want. If those we elect don’t do what We The People want there is NOTHING we can do about it because by the time we find out it is too late. I am getting sicker and sicker every day because of worrying about what is going to happen to my home and family. Every time I see Obama’s face I get actually sick to my stomach. We The People cannot slack up, we must stay vigilant. May God Bless.

      Report Post » bookofwisdom  
    • mrclean
      Posted on November 13, 2010 at 4:44pm

      My thought exactly.

      Anyone else on this train??

      Report Post » mrclean  
  • HillCountryPatriot
    Posted on November 13, 2010 at 2:15pm

    This P.O.S. is a one-man wrecking ball!!!

    Report Post » Hill Country Patriot  
  • HillCountryPatriot
    Posted on November 13, 2010 at 2:14pm

    This ASS is a complete INCOMPETENT. How these libs can go on defending this lunatic is beyond me. God help us all!!!

    Report Post » Hill Country Patriot  
    • starman70
      Posted on November 14, 2010 at 10:42am

      The members of the G-20 are seasoned diplomats. They can spot a phony a mile away. They all saw through King “O” the first time they saw him.

      Report Post »  
  • wash1776
    Posted on November 13, 2010 at 2:14pm

    This moron keeps acting like he is saving the world for us when he is destroying it. He should be ashamed to even make those comments. The only reason we are headed downhill as the most powerful country is because he and Soros are leading the charge. He is an ABOMINATION to this country and should be impeached.

    Report Post »  
    • silentwatcher
      Posted on November 13, 2010 at 2:45pm

      everything he has touched, everything he has done has been a failure. He has, however, been VERY effective at segregating the government and states, they won’t work together now. Hey!!! that’s it!!!!! when you want to overcome a nation,,,,divide and conquer !!!!! there you have it !!

      Report Post »  
    • bbquizzle
      Posted on November 13, 2010 at 4:58pm

      @libertyordeath87

      You are entitled to your opinion. However, advocating for the President to be shot, fair trial or no, is in my humble opinion, unwise. I despise Obama’s policies and arrogance, and am certainly not defending the man, but violence cannot even be advocated by any one of us, much less carried out. That’s what the left needs to win; we must hold the high ground.

      Report Post » bbquizzle  
    • prepper1776
      Posted on November 13, 2010 at 5:33pm

      libertyordeath you need to stop making statements like you just did, do not think this site is not monitored and people have said less and had secret service knocking on the door. besides i want obama to live to a ripe old age so he can see the damage he has done to the USA. also you do realize that if obama was remove from office bidden would be POTUS. now thats scary. violence is not the answer

      Report Post »  
    • BJH
      Posted on November 14, 2010 at 10:49am

      Impeachment is not the answer unless you go further and force him to produce his documents that he has spent $2 million to seal from our eyes. This imposter is not a “natural born citizen” as required to be president. Plus how do you explain the fact that he is using a SS# issued to a man in Connecticut in the 1800′s. He must be proven inelligible to revolt everything he has done. Including all his czars and supreme court appointee’s, virtually every decision he has made. Impeachment doesn’t go far enough. We’d be left with Biden, Clinton and Pelosi. We must reverse EVERYTHING he has done.

       
  • spendthrift
    Posted on November 13, 2010 at 2:11pm

    The hand was quicker that the eye…..not this time Barry.

    Report Post » spendthrift  
  • wash1776
    Posted on November 13, 2010 at 2:09pm

    When is this moron going to quit taking credit for doing nothing but wrecking this country. He is A TOTAL DISGRACE TO HIS OFFICE! GET THE BUM OUT!!

    Report Post »  
  • GetRightOrGetLeft
    Posted on November 13, 2010 at 1:59pm

    When you have no excuses left, and are suffering from an inflated ego, your only recourse is to put on the appearance of confidence and deny reality. Well done, Barry!

    Report Post » GetRightOrGetLeft  
    • mrclean
      Posted on November 13, 2010 at 4:42pm

      ……..it’s all about me me me

      Report Post » mrclean  
    • RepubliCorp
      Posted on November 14, 2010 at 1:15am

      So true! Being rejected must hurt a guy that really though the world would make him king. I wonder at what point he will flip-out. His true colors are going to show. Lets have hope in two years he is doing a world tour with Carter (Why We Love America)

      Report Post » RepubliCorp  
  • oldasdirt
    Posted on November 13, 2010 at 1:59pm

    I am likeing Obama less and less each day.Now consider my starting point,that was not easy to do.But Obama and his policies have made it easy to like him less and less.
    Is it just me that feels this way? I think no after the results of Nov.2nd election.

    Report Post » oldasdirt  
    • Proud American in Buffalo
      Posted on November 13, 2010 at 10:19pm

      The guy was a total FRAUD back in 2004 and he has gotten progessively (finally an appropriate word for our President) worse since then.

      Report Post » Proud American in Buffalo  
  • T.JeffersonWasTheBest
    Posted on November 13, 2010 at 1:57pm

    Remember it’s not the 600 billion that is being pumped into the economy that is going to cause inflation. It’s the Tea Party……. according to Time Magazine.

    Report Post » T.JeffersonWasTheBest  
  • Marylou7
    Posted on November 13, 2010 at 1:54pm

    Deny, Deny, Deny, yelp that will make things better.

    Report Post » Marylou7  
    • CatB
      Posted on November 13, 2010 at 4:48pm

      Pay no attention to that man behind the curtain……

      http://www.youtube.com/watch?v=NZR64EF3OpA

      Report Post »  
    • ILFarmer
      Posted on November 14, 2010 at 10:14am

      the fed move was suppose to stabilize the economy and NOT devalue the dollar???? anyone with half a brain can tell you it doesn’t work that way. And he wants a free trade zone in the pacific as well? Isn’t NAFTA the reason so many US jobs disappeared over seas? They could make the stuff cheaper elsewhere and then ship it to the US for virtually nothing. How is that going to keep jobs in the US? I’m glad that the other countries basically told him to politely !$@% off. Obama‘s on the path of destruction and he’s too blind to see it or he’s completely in on it. Personally, I‘d hope that it’s the former and not the later, but you can only claim ignorance for so long.

      Now he’ll probably come back home, have nothing to show for himself and his work and probably hit the golf course and take a vacation from is pseudo-vacation before taking on the Republicans.

      Report Post »  
  • MJ1025
    Posted on November 13, 2010 at 1:49pm

    He is good at pretending to be ignorant so he can just do what Soros tells him to do. He knows damn well he is ruining the dollar.

    Report Post » MJ1025  
    • snowleopard3200 {mix art}
      Posted on November 13, 2010 at 2:06pm

      I find Obama-sans favorite spin upon any stage in which the telepromptor is actually working…

      Failure at home = success
      Failure at the world = success
      Failure to come to his senses = cluelessly disfunctional and out of touch with reality

      Report Post » Snowleopard {gallery of cat folks}  
    • be heard
      Posted on November 13, 2010 at 3:27pm

      I‘m sure somehow his failures over seas are Bush’s fault.

      Report Post » be heard  
    • jds7171
      Posted on November 13, 2010 at 3:45pm

      This is what happens when you have no negotiating power. People can do whatever they want. Obama and the left better not cry because its there fault. They lost us the power that allows governments to openly argue against us. Just wait when Israel, Japan, and Britian start calling us idiots and likening us to children with their moms credit card.

      Report Post »  
    • DagneyT
      Posted on November 13, 2010 at 4:27pm

      I had to go put my boots on to finish reading this list of bull!

      Report Post » DagneyT  
    • CatB
      Posted on November 13, 2010 at 4:46pm

      You are so right MJ1025 … I would love to know anyone’s idea on what we as a group could do to bring down Soros … anyone have any idea? … perhaps someone with a banking background could come up with something … there is power in numbers.

      Report Post »  
    • A Doctors Labor Is Not My Right
      Posted on November 13, 2010 at 5:55pm

      “and argued that “countries with large surpluses must shift away from unhealthy dependency on exports””

      If you‘re another country don’t let another country keep you from being productive. Obama is an enemy of America like his Marxist buddies. Tell Obama to take a hike, and then worry about allowing your own private sector to grow your own economy.

      Report Post »  
    • mrclean
      Posted on November 13, 2010 at 8:33pm

      But he contended he has now developed genuine friendships with leaders including Indian Prime Minister Manmohan Singh, German Chancellor Angela Merkel and South Korean President Lee Myung Bak — and even Chinese President Hu Jintao.

      Hah! They can‘t stand this deceiving lying bastard who’s impersonating the potus. They see him for the egotist he is

      Report Post » mrclean  
    • thepatriotdave
      Posted on November 13, 2010 at 10:25pm

      DagneyT,

      Better make them Hip-Waders!

      PatriotShops.com

      Report Post » thepatriotdave  
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