Obama urges companies to hire, studies housing moves

By REUTERS
May 12, 2011 15:09

 
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WASHINGTON - President Barack Obama urged businesses to "step up" and hire workers, pressing banks and other corporations to do more to help an economy that he said would take "several years" to recover fully.

In a town-hall style meeting conducted on Wednesday by CBS News, Obama said the weak housing market and high gasoline prices were the biggest "headwinds" dragging on the economy.

"We've got a lot more work to do to get businesses to invest and to hire," he told the audience in remarks broadcast on Thursday.

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