Obama: We're Not In Danger of Another Recession -- with VIDEO

JOE RAEDLE/GETTY IMAGES

Obama meets with community leaders and business owners during a round table discussion at the Rural Economic Forum at Northeast Iowa Community College on August 16.

By National Journal staff

Updated: August 18, 2011 | 1:08 p.m.
August 17, 2011 | 6:40 p.m.

President Obama countered many Wall Street analysts, saying on Wednesday that the U.S. is not going to have another recession.

"I don't think we're in danger of another recession," Obama told CBS News. Obama did note that the recovery has not been fast enough, blaming the Arab spring, high gas prices, and March's earthquake and tsunami in Japan.

Obama said the volatility in the markets recently has been due to a lack of economic growth.

"The markets were reacting to the economy not growing as quick as it used to," he said.

He also lamented the politics that surrounded the debt ceiling deal.

"We should not have had any brinksmanship around the debt ceiling," he said.

Obama's extended interview will air this week on CBS News Sunday Morning.

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