The strength of the economy

In the lead  to a report on Barack Obama’s speech at the University of Maryland the CBC quotes him as saying the strength of the economy will depend upon how the U.S. deals with its debt.  I couldn’t find any reference to that in the story but  whether or not he said it, I want to disagree.

The strength of the economy depends upon the quantity of goods and services which can be produced and that depends upon such things as the state of agriculture, the resource base and the energy required to extract  those resources.  Money is important because it facilitates the extraction of resources and the exchange of goods and services.

Following is the CBC’s lead in paragraph and here is the link to the actual report

U.S. President Barack Obama says the strength of the economy will depend on how the country deals with its massive $14.3 trillion debt — in remarks after the Senate rejected the Republican’s budget-cutting plan. 11:36 AM ET video

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