UPDATE 2-Obama vigorously defends economic policies


* Obama says stimulus policies averted depression * Obama expects carmakers will pay back government loans (Adds quotes, color) By David Alexander RALEIGH, N.C., July 29 (Reuters) - President Barack Obama launched a spirited defense of his economic policies on Wednesday, declaring that they had helped save the country from plunging into a depression. With a spate of polls showing Americans have growing doubts about his policies, Obama said bank and auto bailouts and stimulus spending ...

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