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Obama touts economy at G20 meeting

AP Photo

AP Photo

ST. PETERSBURG, Russia (AP) - President Barack Obama says the world's economic powers focused on pursuing financial reforms and addressing tax evasion and avoidance during the G20 summit.

Obama says during a news conference that the economies of the U.S. and European nations have emerged from a difficult recession.

He warned Congress that it shouldn't risk a U.S. default "over paying bills we've already racked up." Obama says he's determined that the world has confidence "in the full faith and credit of the United States."

The president spoke after the government reported that the unemployment rate dropped to 7.3 percent, the lowest in nearly five years and U.S. employers added 169,000 jobs in August.


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