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Showing posts from July, 2011

Maruti Suzuki sales down 8.8% in June

India, China giving US stiff competition on jobs: Obama

Citing stiff competition from nation's like China, India and Brazil , President Barack Obama has said he is not prepared to bring US deficit down by sacrificing education, medical research or rebuilding of infrastructure.

"We live in a world where America is facing stiff competition for good jobs from rapidly growing nations, like China and India and Brazil," he said at two Democratic party fundraisers in Philadelphia Thursday lamenting the lack of progress on some of the nation's problems.

"For a long time we were told the best way to win that competition is just to undermine consumer protections and undermine clean air laws and clean water laws and hand out tax breaks to millionaires and billionaires," Obama said.

"That was the idea that held sway for close to a decade. And let's face it, it didn't work out very well," he said accusing opposition Republicans seeking their party's presidential nomination for the 2012 election for a…