President Obama delivered his weekly address this morning and called on Congress to work together on a balanced approach to reduce our deficit and promote economic growth and job creation. President Obama said that our "businesses created 2.2 million jobs last year. And we just learned that our economy created more jobs over the last few months than economists originally thought."
The National White House Press Examiner reported that the Labor Department announced yesterday that figures showed payrolls rose 157,000 in December, following a revised 196,000 advance in the prior month of November. Jobs surged in November to 247,000.
The Dow Jones Industrial Average pierced through the 14,000 mark yesterday, closing at 14,009.79. The "Obama stock market rally" as it is called is fast approaching its all-time high of 14,164.53 achieved on Oct. 9, 2007. On inauguration day on Jan. 20, 2009, the DJIA was 7,949.09. It bottomed on March 9, 2009 at 6,547.05 which at the time was its lowest level since 1997.
President Obama said that there are "real signs of progress: Home prices are starting to climb again. Car sales are at a five-year high. Manufacturing is roaring back."
President Obama also warned about playing "politics" in Congress, or these gains could be short-lived. "Everyone in Washington needs to focus not on politics but on what’s right for the country; on what’s right for you and your families. That’s how we’ll get our economy growing faster. That’s how we’ll strengthen our middle class."
President Obama acknowledged that it's "critical to cut unnecessary spending. But we can’t just cut our way to prosperity. It hasn’t worked in the past, and it won’t work today. It could slow down our recovery. It could weaken our economy. And it could cost us jobs – now, and in the future."
President Obama called for balance in our approach and balance in our politics. We need a "balanced approach; an approach that says let’s cut what we can’t afford but let’s make the investments we can’t afford to live without. Investments in education and infrastructure, research and development – the things that will help America compete for the best jobs and new industries."
Obama pointed out that we have already the deficit by "$2.5 trillion and that’s a good start. But to get the rest of the way, we need a balanced set of reforms."
Congress will need to get in balance with President Obama's approach to a stronger economic climate for the middle class and for all Americans.
Send John Presta an email and your story ideas or suggestions, johnpresta@att.net.
John is the author of an award-winning book, the 2010 Winner of the USA National Best Book award for African American studies, published by The Elevator Group, Mr. and Mrs. Grassroots. Also available an eBook on Amazon. John is also a member of the Society of Midland Authors and is a book reviewer of political books for the New York Journal of Books . John has volunteered for many political campaigns.
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