U.S. President Barack Obama Wednesday used the appointment of the President's Export Council to pitch financial reform.
The Senate recessed for the July 4 holiday without acting on legislation to rein in the Wall Street excesses that triggered the recession.
Obama said though the recession may be at an end, we must figure out how to guarantee the "strong and lasting economic growth" required.
"Where will we find the growth necessary to help us address all our priorities?" Obama asked in remarks prepared for delivery.
Obama said we must put an end to the policies and lax oversight that triggered the recession, saying economic bubbles, paper gains and mounting
debt are not the answer to future growth.
"The progress we've made to date isn't nearly enough to undo the enormous damage that the recession visited on people and communities across our country. Our businesses are hiring again, but there are still five unemployed workers for each job opening," Obama said.
The president called for investment in the future.
"Over time, failure to make such investments slowly degrades our competitiveness, leaving us without the skilled workforce, the technologies,
or simply the basic infrastructure a 21st century economy requires," he said.
Obama cited his State of the Union address for doubling U.S. exports in the next five years, saying to meet that goal, he is establishing "the
President's Export Council, a group that includes business and labor leaders who will offer their unfiltered advice and expertise on how best to promote American exports."
The council will be chaired by Boeing Chairman, President and Chief Executive Officer Jim McNerney. Ursula Burns, chairman and CEO of Xerox
Corp., is to serve as vice chair.
Obama ticked off a number of steps that already have been taken by his administration or are under way, including resolution of the Korean Free Trade Agreement and the Trans-Pacific Partnership Free Trade Agreement.
"After all, this is a nation that has never shied away from the prospect of competition. We thrive on competition -- and we are as uniquely positioned as ever to compete with anyone in the world," Obama said.