President Barack Obama Friday touted the nation's falling unemployment rate as an important sign of progress and economic recovery.
But, speaking at a campaign event in Virginia, the President said that more remains to be done and pledged to undertake that task if re-elected.
"As a nation, we are moving forward again," Obama said. "After losing about 800,000 jobs a month when I took office, our businesses have now added 5.2 million new jobs over the past two and a half years."
He added, "This morning, we found out that the unemployment rate has fallen to its lowest level since I took office. More Americans entered the workforce. More people are getting jobs."
Obama recognized, however, that too many Americans are still struggling.
"Every month reminds us that we've still got too many of our friends and neighbors who are looking for work," he said. "And there are too many middle-class families that are still struggling to pay the bills -- they were struggling long before the crisis hit."
He added, "It's a reminder that this country has come too far to turn back now."
Obama said the strength and resilience of the American people has made the recovery possible, adding that he refuses to return to the same policies that contributed to the financial crisis and economic meltdown in the first place.
"I have seen too much pain, seen too much struggle, to let this country get hit with another round of top-down economics," Obama said. "One of the main reasons we had this crisis is because big banks on Wall Street were allowed to make big bets with other people's money on the line."
Obama continued with a point aimed at his republican rival, "And now Governor [Mitt] Romney wants to roll back the rules we put in place to stop that behavior? That's not going to happen."
Obama also criticized Romney by arguing that the GOP nominee's tax proposal would lead to a huge increase in the deficit.
"One of the main reasons record surpluses under Bill Clinton were turned into record deficits under George Bush is because we put two wars and two tax cuts on a credit card," Obama said. "And now Governor Romney wants another $5 trillion in tax cuts that he can't pay for? Not if I have anything to say about it."
He added, "That's not going to happen. We are not going to let this country fall backward -- not now, not with so much at stake."
by RTT Staff Writer
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