Obama Defends Economic Progress Ahead of Congressional Elections

18 August 2010

President Barack Obama listens during a talk about the economy in Columbus, Ohio, 18 Aug 2010

President Obama took his campaign-style trip to the back yard of a family in the Midwestern U.S. city of Columbus, Ohio on Wednesday.

He talked with Joe and Rhonda Weithman, and several dozen of their neighbors about the main issue on the minds of many Americans this election year, the U.S. economy.

"Whereas we were losing jobs in the private sector when I was first sworn in, we are now gaining jobs and we have gained jobs seven consecutive months in the private sector," said President Obama. "The economy was shrinking about six percent, and the economy is now growing. So we have made progress. But, let's face it, the progress has not been fast enough."

An

Associated Press

public opinion poll shows that only 41 percent of those surveyed believe Mr. Obama has done a good job handling the economy.

The nation's unemployment rate remains stalled at 9.5 percent. Ohio, which has lost many of its manufacturing jobs, has a jobless rate of more than 10 percent.

At Wednesday's informal meeting, the president said it will take time to regain the eight million jobs that have been lost during the past two years. But he said confidence will grow as the economy rebounds.

"So what we are trying to do is create a virtuous cycle, where people start feeling better and better about the economy. And a lot of it is sort of like recovering from an illness - you get a little bit stronger each day, and you take a few more steps each day. And that is where our economy is at right now," President Obama added.