President Obama Says Economy 'On Its Way Back'

By: Associated Press Email
By: Associated Press Email

WASHINGTON (AP) -- President Barack Obama says the economy is on its way back, and that "we've come too far to turn back now."

In his State of the Union speech Tuesday night, he said business have created more than three million jobs in the past 22 months. He said there are new rules in place to make sure that another crisis in the financial industry doesn't happen again. And he said there's an agreement to cut the deficit by more than $2 trillion.

Obama said he would work with anyone in Congress to "build on this momentum" -- that he would oppose efforts to return to the policies that he says "brought on this economic crisis in the first place."

He vowed to "fight obstruction with action" -- and avoid a return to what he called "an economy weakened by outsourcing, bad debt, and phony financial profits."

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