Barack Obama: The only path out of recession is one of sustainable job creation

Share
Related Topics

A year ago, when I took office in the midst of the worst recession since the Great Depression, I promised you two things. The first was that there would be better days ahead. And the second was that the road to recovery would be long, and sometimes bumpy.

That was brought home again yesterday. We learned that in November, our economy saw its first month of job gains in nearly two years – but last month, we lost more than we gained. Now, we know that no single month makes a trend, and job losses for the final quarter of 2009 were one-tenth what they were in the first quarter. But until we see a trend of sustainable job creation, we will be relentless in our efforts to put America back to work.

That task goes even deeper than replacing the seven million jobs that have been lost over the past two years. We need to rebuild our economy in such a way that our families can feel a measure of security again. Too many of the folks I've talked with this year, and whose stories I read in letters at night, tell me that they've known their own private recessions since long before economists declared one – and they'll still feel the recession long after economists have declared it over.

That's because, for decades, Washington avoided doing what was right in favour of doing what was easy. And the result was an economy where some made out well, but the middle class too often took a beating.

Over the past decade, the income of the average household actually declined, and we lost as many jobs as we created. Hardworking folks who did everything right suddenly found themselves forced to downscale their dreams because of economic factors beyond their control. We're talking about simple dreams. American dreams. A good job with a good wage. A secure and dignified retirement. Stable healthcare so you don't go broke just because you get sick. The chance to give our kids a better shot than we got.

That's why, as we begin to emerge from this crisis, we will not return to the complacency that helped cause it. Even as we focus on putting America back to work today, we're building a new foundation for our economy to create the good, lasting jobs and shared prosperity of tomorrow.



From the US President's weekly address to the nation

React Now

  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
iJobs Job Widget
iJobs General

Recruitment Genius: Senior Digital Marketing Consultant

£28000 - £45000 per annum: Recruitment Genius: A Senior Digital Marketing Cons...

Recruitment Genius: Assistant Stores Keeper

£16640 - £18500 per annum: Recruitment Genius: An Assistant Stores Keeper is r...

Recruitment Genius: Claims Administrator

£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...

Recruitment Genius: Software Developer - C# / ASP.NET / SQL

£17000 - £30000 per annum: Recruitment Genius: Developer required to join a bu...

Day In a Page

Read Next
Thousands of Russian troops marched on Red Square in the annual Victory Day parade in a proud display of the nation's military might amid escalating tensions over Ukraine  

Once again, the West fails to understand Russia

Mary Dejevsky
Jamie Oliver joins children as they celebrate Food Revolution Day 2014 by cooking bread, making smoothies and creating salads at St Paul's Whitechapel CE Primary School in London  

Teaching children to cook at school is a recipe for self-respect

Grace Dent
Fishing for votes with Nigel Farage: The Ukip leader shows how he can work an audience as he casts his line to the disaffected of Grimsby

Fishing is on Nigel Farage's mind

Ukip leader casts a line to the disaffected
Who is bombing whom in the Middle East? It's amazing they don't all hit each other

Who is bombing whom in the Middle East?

Robert Fisk untangles the countries and factions
China's influence on fashion: At the top of the game both creatively and commercially

China's influence on fashion

At the top of the game both creatively and commercially
Lord O’Donnell: Former cabinet secretary on the election and life away from the levers of power

The man known as GOD has a reputation for getting the job done

Lord O'Donnell's three principles of rule
Rainbow shades: It's all bright on the night

Rainbow shades

It's all bright on the night
'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power
Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

The price to be paid for challenging the rule of extremists

A revolution now 'consuming its own children'
Welcome to the world of Megagames

Welcome to the world of Megagames

300 players take part in Watch the Skies! board game in London
'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

Charlotte Gainsbourg on 'Nymphomaniac'

Starring in one of the most explicit films ever
Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

Robert Fisk in Abu Dhabi

The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

Vince Cable exclusive interview

Charging fees for employment tribunals was 'a very bad move'
Iwan Rheon interview: Game of Thrones star returns to his Welsh roots to record debut album

Iwan Rheon is returning to his Welsh roots

Rheon is best known for his role as the Bastard of Bolton. It's gruelling playing a sadistic torturer, he tells Craig McLean, but it hasn't stopped him recording an album of Welsh psychedelia
Morne Hardenberg interview: Cameraman for BBC's upcoming show Shark on filming the ocean's most dangerous predator

It's time for my close-up

Meet the man who films great whites for a living
Increasing numbers of homeless people in America keep their mobile phones on the streets

Homeless people keep mobile phones

A homeless person with a smartphone is a common sight in the US. And that's creating a network where the 'hobo' community can share information - and fight stigma - like never before