Obama ‘confident’ the U.S. will avoid a double-dip recession

A slowed rate in gross domestic product for the second quarter, combined with a monthly jobless figure that could be tough for the administration, has put the White House in a bit of a defensive stance on its economic record.

The administration has come under criticism from Republicans, who argue that Obama’s signature $787 billion stimulus package did little to help the economy while opening a gap in the deficit.

Obama hit the road Thursday and throughout the past two weeks to help sell the successes of his economic policies, specifically pointing to recovery within the auto industry. The administration last year extended assistance to GM and Chrysler as those companies underwent bankruptcy and restructuring. After visiting those companies’ plants last week in Detroit, Obama trumpeted the work at Ford, the only U.S. automaker to avoid a bailout.

“What you’re see in the auto industry is what you see in American manufacturing generally, which is that, first of all, we were losing 300,000, 400,000 jobs the year before I took office. We’ve now gained 55,000 back,” Obama said. “That means we’re moving in the right direction.”

-Cross-posted from Blog Briefing Room.