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Obama: No fears of double-dip recession

WASHINGTON — After a spate of discouraging economic reports, President Barack Obama insisted today he’s not afraid of the country slipping into a double-dip recession. But at the same time he displayed some impatience that the pace of the recovery has “got to accelerate.”

“Obviously, we’re experiencing some headwinds,” Obama said at a joint news conference with visiting German Chancellor Angela Merkel. He said it was unclear whether the latest unemployment report, which showed a slowdown in job growth, was a one-month disappointment or part of a longer trend.

But Obama said his administration is taking a range of steps to boost the economy, and that the nation is bound for long-term economic growth.

“We are on the path of a recovery but it’s got to accelerate,” he said.

Taking note that economic turmoil has roiled both sides of the Atlantic, Obama added: “Recovery from that kind of body blow takes time.”

“Our task is to not panic, not overreact.”

The economy is the overarching issue as Obama heads into a 2012 re-election campaign, and a Washington Post-ABC News poll released Tuesday found that disapproval with how Obama is handling the economy and the deficit has reached a new high.

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