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Obama: US economy has 'core strengths'

(Agencies)
Updated: 2009-11-24 05:21

WASHINGTON: US President Barack Obama says the US economy has "core strengths" that will put the nation in a good stead for the long term despite a difficult year for millions of people.

US Secretary of Defense Robert Gates (2nd L) another other cabinet members look on as President Barack Obama speaks at the end of a meeting with members of his administration in the Cabinet Room of the White House in Washington, November 23, 2009. [Agencies]

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Wrapping a Cabinet meeting Monday, Obama spoke in upbeat terms about the strength of American universities, workers and entrepreneurship.

But the president also said that the growth of the economy is not sufficient given the double-digit unemployment that has sapped much of the nation's spirit.

Said Obama, "We cannot sit back and be satisfied."

Emphasizing job creation, Obama told Cabinet members that they are blessed to be able to try to make a difference in the lives of millions of people. He also told them to get a little rest over the Thanksgiving holiday.