Obama says he has faith in free market system; Says US still a beacon for rest of world

Obama: US still world leader despite economic woes

WASHINGTON — President Barack Obama says America remains in many respects the envy of the world, despite its problems.

Speaking at a town hall meeting sponsored by CNBC, Obama took issue with a questioner’s assertion that because of the poor business climate and high joblessness, the American dream now is harder to chase.

Obama says the United States still has the world’s most productive workers and best universities. He emphasized that he believes strongly in the free market system and said it “has to be preserved.”

The president said: “There is not a country in the world that would not want to change places with us, for all the problems that we’ve got.” He added: “We’re still the country that billions of people around the world look to and aspire to.”