Obama vows to work with GOP to trim number of unemployed Americans

Obama vows to trim unemployment rate

U.S. President Barack Obama reaffirmed his commitment to lift the economy further this year and lessen the ranks of unemployed Americans. In his weekly address over the radio and the Internet, Obama said that he will work closely with Republicans to address economic issues this year. "In a few days, a new Congress will form -- with one house controlled by Democrats and one house controlled by Republicans, who now have a shared responsibility to move this country forward," Obama said, who also greeted Americans a 'happy new year'. The Republicans dominated the mid-term elections and wrested control of the U.S. House. They also occupy 47 out of 100 seats in the U.S. Senate. This early Republican leaders are poised to push their agenda to repeal Obama's health care reform law and to lower government expenditure.

The President said that he is going "to do everything I can to make sure our economy is growing, creating jobs, and strengthening our middle class." Obama's message comes in the heels of positive economic data at the close of 2010. The Labor Department said last week that unemployment claims fell to its lowest number in two years, signaling a strengthening U.S. labor market. Business expansion posted its quickest rate in twenty years and pending home sales inched higher in November, the fourth time in the last five months that it did so. Obama admitted that bringing the unemployment rate which is at 9.8 percent will be difficult even as the U.S. is on the path to recovery.

Posted by James Fried on Sunday January 02 2011, 3:32 AM EST. Ref: Bloomberg. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0