Tue, 17 Jul 2012 06:30:16 GMT | By PTI

Obama not to concede industries of 21st century to China,India

Washington: US President Barack Obama will not concede industries of the 21st century to China, India or Europe, a top presidential aide has said as he defended the administration's loan guarantee programme.


Obama not to concede industries of 21st century to China,India

Washington: US President Barack Obama will not concede industries of the 21st century to China, India or Europe, a top presidential aide has said as he defended the administration's loan guarantee programme.

"This President will not concede the industries of the 21st century to China, India, Europe and elsewhere," the White House Press Secretary, Jay Carney, told reporters travelling with Obama to Ohio.

Opponents had been attacking Obama, highlighting reports of top donors landing plum administration posts and securing government aid. They cite at the top of that list the Department of Energy loan guarantees that went to alternative energy companies.

Carney said the investments made in the Recovery Act have already helped renewable energy production double in the United States.

"They have helped created tens of thousands of jobs in the United States. They have helped build a foundation for competition in vital industries in the 21st century, for competition that will allow for the creation of American jobs in the United States," he said.

(Continued)
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