"Our economy is growing again," the president said in his weekly radio and Web address. "The flood of job loss we saw at the beginning of this year slowed to a relative trickle last month. These are good signs for the future, but little comfort to all of our neighbors who remain out of a job. And my solemn commitment is to work every day, in every way I can, to push this recovery forward and build a new foundation for our lasting growth and prosperity."
Obama said his recent proposals to provide additional tax cuts and lending for small businesses, and his support of the unemployment insurance extension will help keep the economy moving in a positive direction.
Obama also said Friday's passage of the financial reform legislation will make the U.S. economy less vulnerable to future problems.
"Yesterday, the House passed comprehensive reform legislation that incorporates some of the essential changes we need, and the Senate Banking Committee is working on its own package of reforms," Obama said. "I urge both houses to act as quickly as possible to pass real reform that restores free and fair markets in which recklessness and greed are thwarted; and hard work, responsibility, and competition are rewarded – reform that works for businesses, investors, and consumers alike."
"We can't afford to let the same phony arguments and bad habits of Washington kill financial reform and leave American consumers and our economy vulnerable to another meltdown,' He said.