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Obama: Economy is coming back

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President Obama, facing Nov. 4 elections that will determine the makeup of Congress for his last two years in office, said Thursday that the once-shattered American economy is coming back, but many Americans still don't feel the benefits.

"For all the work that remains — for all the citizens that we still need to reach — what I want people to know is that there are some really good things happening in America," Obama said at a speech at Northwestern University in Evanston, Ill.

Outlining what he called a "new foundation for growth and prosperity," Obama touted his energy, technology, education, health care agendas. He cited statistics showing a steady rise in jobs (including manufacturing jobs), a decline in the unemployment rate, the comeback of the U.S. car industry, and falling federal budget deficits.

Obama paid particular attention to his biggest piece of domestic legislation, the health care bill ("aka 'Obamacare,'" the president said.). Obama said the law has helped more people obtain insurance coverage, while cutting the rise in health care costs.

Fewer Republicans are running against the health care law this election year, Obama said before tossing in a barb against his least favorite cable channel: "While good, affordable health care might seem like a fanged threat to the freedom of the American people on Fox News, it's turns out it's working pretty well in the real world."

In stumping for a continuation of his economic policies, Obama also called on Congress to approve more road and bridge spending, new rules for home loans, investments in clean energy, laws on pay equity between men and women, and an increase in the minimum wage.

"So our task now is to harness the momentum that is real -- that does exist -- and make sure that we accelerate that momentum, that the economy grows and jobs grow and wages grow," Obama said.

At one point, Obama said "this isn't some official campaign speech," but the Democratic president also told the friendly crowd: I'm not going to tell you who to vote for — although I suppose it's kind of implied."

Obama also mocked Republican economic policies, saying they favor the wealthy over the middle class.

For their part, Republicans said that Obama-era spending and regulatory policies are what is slowing the economy.

Senate Republican leader Mitch McConnell — who faces a tough re-election bid in Kentucky — said "Americans who are suffering so much in the Obama economy" won't be persuaded by his claims of improvement.

"We all know the stock market's been doing great and that the top 1% are doing just fine, but what about the poor and middle class, who can't find jobs or whose wages have barely budged during the Obama administration?" McConnell said. "What about Americans who work in industries that liberals in Washington don't approve of, like coal?"

Kevin Smith, communications director for House Speaker John Boehner, R-Ohio, said the Democratic Senate has blocked numerous jobs plans put up by the Republican-run House.

Republicans are expected to maintain control of the U.S. House next month, and have high hopes of seizing control of the Senate from the Democrats.

Kirsten Kukowski, spokeswoman for the Republican National Committee, said of Obama's speech at Northwestern: "Thirty-three days before the midterm elections, President Obama is very transparently trying to refocus his party as their approval ratings continue to plummet, but he isn't fooling anyone."

Saying that "America is better poised to lead and succeed in the 21st century than any other nation on Earth," Obama — who has made heavy use of executive orders — also appeared to serve a warning to congressional Republicans: "I will not allow anyone to dismantle this foundation."

Obama also said that while he personally isn't running for anything in November, "make no mistake: these policies are on the ballot -- every single one of them."

The president is expected to make similar arguments as he stumps for Democrats in the month ahead. The speech also provided a blueprint for Obama's last two years and four months in the presidency.

While the economy is recovering from the economic meltdown of 2008, Obama said, the benefits aren't widely shared, in part because of stagnant wages and incomes.

The "central challenge of our times," Obama said, is to "make our economy work for every working American."

While most of his speech was devoted to the economy, Obama also touched on some foreign affairs, including efforts to defeat the Islamic State and to block the spread of the Ebola virus.

The president added that "what supports our leadership role in the world is ultimately the strength of our economy here at home."

A group of protesters greeted Obama as he arrived on the Northwestern campus. One sign read: "US out of Iraq and Syria."

 

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