Congress Should Take Action to Continue Growing the Economy
June 04, 2013
In this week’s address, President
Obama said that the economy is moving in the right direction, but there
is still more work to do. He called on Congress to act to give every
responsible homeowner the chance to save money on their mortgage by
refinancing at historically low interest rates, put more Americans to
work rebuilding our crumbling infrastructure, and fix our broken
immigration system, so that we can continue to grow our economy and
create good middle class jobs.
The audio of the address and video of the address will be available
online at www.whitehouse.gov at 6:00 a.m. ET, June 1, 2013.
Remarks of President Barack Obama
The White House
June 1, 2013
Hi, everybody. Over the past four and a half years, we’ve been fighting
our way back from an economic crisis and punishing recession that cost
millions of Americans their jobs, their homes, and the sense of security
they’d worked so hard to build.
And thanks to the grit and determination of the American people, our
businesses have now created nearly 7 million new jobs over the past 38
An auto industry that was flatlining is once again the heartbeat of
American manufacturing – with Americans buying more cars than we have in
Within the next few months, we’re projected to begin producing more of
our own crude oil at home than we buy from other countries – the first
time that’s happened in 16 years.
Deficits that were growing for years are now shrinking at the fastest
rate in decades. The rise of health care costs is slowing, too.
And a housing market that was in tatters is showing new signs of real
strength. Sales are rising. Foreclosures are declining. Construction is
expanding. And home prices that are rising at the fastest rate in nearly
seven years are helping a lot of families breathe a lot easier.
Now we need to do more.
This week, my administration announced that we’re extending a program to
help more responsible families modify their mortgages so they can stay
in their homes.
But to keep our housing market and our economy growing, Congress needs
to step up and do its part. Members of Congress will be coming back next
week for an important month of work. We’ve got to keep this progress
going until middle-class families start regaining that sense of
security. And we can’t let partisan politics get in the way.
Congress should pass a law giving every responsible homeowner the chance
to save about $3,000 a year on their mortgage by refinancing at
historically low interest rates.
Congress should put more Americans to work rebuilding our crumbling
roads and bridges, like the one that collapsed last week in Washington
state. We’d all be safer, and the unemployment rate would fall faster.
Congress should fix our broken immigration system by passing commonsense
reform that continues to strengthen our borders; holds employers
accountable; provides a pathway to earned citizenship; and also
modernizes our legal immigration system so that we’re reuniting families
and attracting the highly-skilled entrepreneurs and engineers who will
help our economy grow.
So there are a lot of reasons to feel optimistic about where we’re
headed as a country – especially after all we’ve fought through
together. We’ve just got to keep going. Because we’ve got more good jobs
to create. We’ve got more kids to educate. We’ve got more doors of
opportunity to open for anyone who’s willing to work hard enough to walk
through those doors.
And if we work together, I’m as confident as I’ve ever been that we’ll
get to where we need to be.