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America's economic resurgence is real, says Obama

January 08, 2015 15:37 IST

US President Barack Obama travels to the Martin Luther King, Jr Memorial with Prime Minister Narendra Modi of India. Photograph: Pete Souza/White House

Image: US President Barack Obama travels to the Martin Luther King, Jr Memorial with Prime Minister Narendra Modi of India. Photograph: Pete Souza/White House

Hailing the revival of economy and jobs growth in the US, President Barack Obama has said that the worst of the crisis is over and there is no looking back.

"America's resurgence is real. 

“Don't let anybody tell you otherwise. We've got the best cards and we are doing better than just about anybody else on Earth," Obama said in Michigan on Thursday asking his countrymen to embrace the economic recovery.

"We have every right to be proud of what we've got to show for all that hard work," said the President in an aggressive campaign style speech in Michigan.

A recruiter for software a company wears a t-shirt as he meets job seekers at a career fair.

Image: A recruiter for software a company wears a t-shirt as he meets job seekers at a career fair. Photograph: Mike Segar/Reuters

"Now that we've got some calmer waters, now that the worst of the crisis is behind us, if we all do our part, if we all pitch in, then we can make sure that this rising tide is actually lifting all the boats, not just some," Obama said.

Obama said he has just two years left in office.

"I didn't want to wait for the State of the Union to talk about all the things that make this country great and how we can make it better. 

“So I thought I'd get started this week.

“I figured, why wait?" he said. Obama will spend most part of this week giving speeches in various parts of the country.

Obama said the auto industry has proved that any comeback is possible, so has Motor City (Detroit).

"A year-and-a-half ago, Detroit became the largest city ever to file for bankruptcy.

“Today Detroit is charting a new course.  

“Businesses and private investors are making big investments, including Ford, which is helping to launch a tech startup incubator downtown," he said.

Obama said one of his New Year's resolutions is to make sure that more Americans feels like they're coming back.

"And there is no doubt, thanks to the steps that we took early on to rescue our economy and to rebuild it on a new foundation, we are entering into the New Year with new confidence that America is coming back," he said.

"The facts are the facts. 

“And let's face it, a lot of times the media doesn't like reporting on good news, but every once in a while, it's important for us to hear some good news, not to make us complacent, but to give us confidence that if we work harder, we can make even more good news," he added.

Barack Obama

Image: US President Barack Obama. Photograph: Reuters

Last year was the strongest year for job growth since the 1990s.

"We've now had a 57-month streak of private sector job creation. 

“We've created nearly 11 million new jobs. That's the longest stretch in our history of private sector, uninterrupted job creation," said the US President.

"Since 2010, we, America, have put more people back to work than Europe, Japan, and every other advanced economy combined. And let me tell you what's leading the way: American manufacturing," Obama said.

"After a decade of decline, American manufacturing is in its best stretch of job growth since the 1990s.

“Here in Michigan, manufacturers have created more than 100,000 jobs, helping to cut your unemployment rate in half," he said.

Lalit K Jha in Washington
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