Weekly Address: The President Talks About How to Build a Rising, Thriving Middle Class, 5/18/13

President Obama talks about his belief that a rising, thriving middle class is the true engine of economic growth, and that to reignite that engine and continue to build on the progress we’ve made over the last four years, we need to invest in three areas: jobs, skills and opportunity.

“More than anything, the American people make me optimistic about where we’re headed as a nation. Especially after all we’ve been through the past several years. And that should encourage us to work even harder on the issues that matter to you.

In a little over three years, our businesses have created more than 6.5 million new jobs. And while our unemployment rate is still too high, it’s the lowest it’s been since 2008. But now we need to create even more good, middle-class jobs, and we need to do it faster.

Corporate profits have skyrocketed to all-time highs. But now we need to get middle-class wages and incomes rising too.

Our housing market is healing. But we still need to help a lot more families stay in their homes, or refinance to take advantage of historically low rates.

And our deficits are shrinking at the fastest rate in decades. But now we need to budget in a smarter way that doesn’t hurt middle-class families or harm critical investments in our future.

So in a lot of sectors, things are looking up. The American auto industry is thriving. American energy is booming. And American ingenuity in our tech sector has the potential to change the way we do almost everything.”

Full text: http://1.usa.gov/19JA79I

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