On the recordJanuary 7, 2014
Over the last 45 months America's private sector has done OK--not great but done pretty well. Eight million jobs have been created. The stock market is booming and even the housing market is starting to show signs of life. A number of States were hit so hard with the decline of the housing market. Nevada was hit the hardest, and California, Florida, Michigan-- a number of States--were hit very hard. But even in those States the housing market is turning around a little bit--not enough but turning around. It is clear that the economy is picking up steam--not enough steam but picking up steam. But for far too many Americans these bright headlines that I have just announced touting good economic news don't match the darker reality of their lives. They sit at the kitchen table--if they are lucky to have a kitchen table--and they are juggling their bills. It was brought to my attention on the way to work this morning about how hard it is for so many people. On Constitution Avenue, as we were waiting for a light, I could see off to the left a news camera and a reporter trying to wake up somebody who had been spending the night on the pavement--not on the grates where the heat comes up. They kept pushing and pushing. I could see they were talking to him. He or she didn't come out of that bundle of material on that sidewalk. I don't know if this man is one of the long-term unemployed. I don't know. But there are lots of people who are in desperate shape.…





