Text Of Obamas Interview
July 2nd, 2009
Obama | 
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Q: Appreciate the time.
Obama: You bet.
Q: News out this morning: unemployment rate up to 9.5 percent, and its of course expected to go higher, as youve said that it probably would. What do you tell Americans who are worried that this really will be a jobless recovery, that they may not be able to find jobs, even if the economy gets better?
Obama: Well, obviously we are deeply concerned about the employment rate. Its one of the things that I am most focused on when I think about long-term economic policy.
We have successfully stabilized the financial markets, and thats important, because that was a huge drag that helped precipitate the crisis. Weve started to see some stabilization on housing. But what were still seeing is too many jobs lost, too many families who are worried about whether theyre going to be next in terms of job loss …
Q: Or whether they can find another.
Obama: … or whether they can find another. And what we also know is that, even before this crisis, back in 2000 through 2008, when the economy was growing, it wasnt generating enough well-paying jobs to keep pace with the growing population. Thats why, even as we deal with the short-term crisis issues, its so important for us to lay the foundations for long-term economic growth. Weve got to figure out what the next growth engine is beyond credit card debt and home equity loans …
Q: Right.
Obama: … and derivatives on Wall Street. And thats the reason why weve emphasized reforming our health care system, which has been a drag on our overall economy, and why clean energy is so important, because if were weatherizing every building and home in America, if we are creating windmills and solar panels and biofuel facilities, that is a huge promising area, not only for jobs here in the United States but also for export growth, and weve got to lift up our exports.
So the last piece of this puzzle is also going to be education. Weve got to produce more engineers, more scientists. We have to have more innovation. And although its been more quiet than some of the other reforms weve been talking about on energy and health care, our secretary of education is really emphasizing how do we lift up performance for all our children so theyll be prepared for the jobs of the 21st Century.
Q: Going to Russia this weekend. Why are you meeting with Putin?
But Prime Minister Putin still has a lot of sway in Russia, and I think that its important that even as we move forward with President Medvedev, that Putin understands that the old Cold War approaches to U.S.-Russian relations is outdated, that its time to move forward in a different direction. I think Medvedev understands that. I think Putin has one foot in the old ways of doing business and one foot in the new. And to the extent that we can provide him and the Russian people a clear sense that the U.S. is not seeking an antagonistic relationship but wants cooperation on nuclear nonproliferation, fighting terrorism, energy issues, that well end up having a stronger partner overall in this process.
Q: And you think maybe sitting down with the Prime Minister can help pull him out of this old way of thinking?
Obama: I think meeting with the Prime Minister ensures that he and Medvedev are hearing the same things and seeing the same things so that they can move in concert in cooperating with us on some critical issues.
Q: A lot of experts think that Russia is the real obstacle to confronting North Korea or Iran in an aggressive way, the kind of aggressive way that the U.S. is advocating on the international stage. Do you agree?
Obama: I dont, actually. So far what weve seen is fairly remarkable cooperation from Russia on North Korea. Weve seen the same thing from China. I think the sanctions regime after the nuclear tests and the missile launches by North Korea have been robust in part because Russia and China have been willing to go further than theyve been willing to go in the past.