G-20 Summit Concludes in Toronto

Posted by DipNote Bloggers
June 28, 2010
G20 Summit Group Photo in Toronto, Canada

The G-20 Summit in Toronto concluded on June 27, 2010. As the summit came to a close, President Obama participated in a press conference, during which he said:

"The G-20 is now the premier forum for international economic cooperation. We represent East and West, North and South, advanced economies and those still emerging. Our challenges are as diverse as our nations. But together we represent some 85 percent of the global economy, and we have forged a coordinated response to the worst global economic crisis in our time.

"In London last year, we took unprecedented action to prevent an even larger economic catastrophe, to put our economies on the path to recovery and to begin reforming our financial system so that a crisis like the one we were emerging from never happened again. In Pittsburgh we went further --- moving beyond the old economic cycles of boom and bust by committing our nations to a new framework for growth that's balanced and sustained, as well as specific financial reforms.

"Our bold action has succeeded. In the United States, we are committed, above all, to leading by example, and because of the steps that we've taken to get our economy moving, we are growing again, and this growth is beginning to translate into job creation. And we're now poised to pass the toughest financial reform since the aftermath of the Great Depression.

"Globally, economic contraction has given way to economic growth. Trade that had plummeted is rebounding. Emerging economies in particular are seeing impressive growth. So we have pulled ourselves back from the brink, and begun to move forward with economic recovery. But as we all know, that's not good enough. In the United States and around the world, too many people are still out of work. In too many economies, demand for goods and services is still too weak. As we've been reminded in recent months, a financial crisis in one country can have consequences far beyond its borders. And history teaches us that growth and prosperity is never guaranteed. It requires constant effort and it requires continued leadership.

"So we came to Toronto with three specific goals: to make sure the global recovery is strong and durable; to continue reforming the financial system; and to address the range of global issues that affect our prosperity and security. And we made progress in each of these areas."

Read the President's remarks and more about the G-20 on the White House Blog.

Related Entry: Leaders Gather in Canada for G-8, G-20

Comments

Comments

Zharkov
|
Russia
June 29, 2010

Zharkov in Russia writes:

Obama is wrong - economic growth and prosperity are guaranteed if tax rates are set very low to allow growth, and Hong Kong has been living proof of this for many decades.

The president's economic message of light at the end of the tunnel is between 5 and 10 years premature.

Not even the Germans believed it. Unlike America, Germany is no longer the world's most gullible society.

donald m.
|
Virginia, USA
June 29, 2010

Donald M. in Virginia writes:

June 29 2010

Ending the wars and occupation of Afghnistan will improve our Nation. Spending billions of dollars in that part of the world with no return makes no sense. Leaders of Afghanistan and his brother seem to be corrupt and involved with the Taliban. The Pakistan Intelligence Agency is involved with the Taliban. United States cannot solve everyones problem in the world. If we can't even solve our own problems how can we help others? I praise our Troops, and hope this war will end. Bring our troops home and protect the Borders of the United States. The constitution and the oath that is taken says those who receive it must protect our homeland. If this is all about oil or minerals in Afghanistan, then mistakes have happened. No minerals in another country should be the price to lose American people. The minerals and oil that runs through Afghanistan belong to the people of Afghanistan. Over 9 years of war, over 5,000 troops have been lost. Its about time "enough is enough" National Security should protect our Nation under fire from any enemy abroad. The United States should think about the umbrella theory of making this all work.

donald m.
|
Virginia, USA
June 29, 2010

Donald M. in Virginia writes:

June 29 2010

How can the State Department and other Federal Agencies save money, when our Nation is bleeding a huge deficit?

1. "Travel by plane LESS and Video Teleconference your counterparts MORE." this saves fuel and cuts down on waste. INvite your counterparts to the United States.

2. Lead by example, not by setting a policy for everyone has to do and you can do as you like. People are smart enough to tell when parties are happening at the American tax payer and disasters are happening, to know that whats a higher priority? A world cup in Africa or resolving the OIL crisis?

3. Nuclear Power energy can be used to move tractor trailers across our Nation and cut down fossil fuels. Why isn't this happening? A power grid with electrical lines could be in place to run electric engines in Tractor Trailers and Trains to move goods across the country and lessen our dependancy on diesel fuel. This would help reduce the cost at the stores, and decrease our spending of fossil fuels. A basic trolly service moving supplies, goods at the cost of Nuclear energy. This could also happen in electric vehicles. Come up with a smart card technology to charge the users with electrical credits, then install a device in the vehicle that registers the power being consumed. The biggest problem our people have in the United States, we all want to drive vehicles on the roads. We all need to drive, if not we wouldn't have jobs. Simply, by changing the design of how we use energy, would save our country billions of dollars.

4. Pay as you go method. This method would help our Federal Employees because then you know what your spending. If you give someone a blank check they would spend til the cows come home.

5. Senators like Mrs. Nancy Pelosi should NOT take advantage of having the US Air Force have jets standing by at the tax payers expense. If she has a drivers license, she can drive a vehicle or like everyone else in our Nation buy a plane ticket, instead of spending hundreds of thousands of dollars flying around in a personal Air Force Jet wasting tax payers dollars. The State of California is bleeding a deficit as well. "This is fraud, waste and abuse of power."

6. Whats careless and wreckless is when your spending money and continue to do so knowing our Nation is sinking fast. You change your habbits. You purchase tickets on a plane, park the expensive jets and crew you place on the American people and show the world how we can all save money by leading by example and not abusing power.

7. The time will pass by faster than you think. It will be 2012 and the question will be, is the United States better or worst before you arrived? Have you made a contribution that changed the world, saved lives, and made a difference that makes our Nation great and safe?

8. Its easy to comment and tell someone what they should do, but first you have to do it. A leader can never tell anyone to do something they themselves are NOT prepared to do in life. A fire chief cannot send a fire fighter into a structure, if he hasn't done it before. This would be poor management.

9. FEMA should be disbanded. This Federal Funded program does not work. A solution to overide FEMA can be submitted to replace this program. FEMA is another fraud, waste and abuse program in our Federal Government. It was a good idea with all the right intensions, but does NOT work. The simple solution is using NSA to coordinate disasters relay the intelligence of emergencies to the nearest Military base and deploy the resources to the scene this all can be done without the use of FEMA.

10. OSHA - This program is good to have but must have more oversight to prevent safety issues. When a refinery has ONE safety violation, the OSHA department should have the authority to shut them down, get it repaired or replaced, then re-inspect to ensure lives are saved NOT lossed.

11. We have 16 Intelligence Agencies across our Nation? Why? This all could be streamlined into ONE Intelligence Agency and headed up by both the CIA and FBI. All the other agencies are doing the same job, which means you have duplication, fraud, waste, and abuse of more Federal dollars.

Godbless and save lives, spend less and grow! a tiny seed can grow a tree "think Smarter not Harder" reinventing the wheel has already been tried. Work outside the box NOT inside the box.

.

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