President Barack Obama on Saturday said the latest unemployment figures showing more than 651,000 jobs in February and the 4.4 million jobs lost in the recession were more than just statistics.
“These aren't just statistics, but hardships experienced personally by millions of Americans who no longer know how they'll pay their bills, or make their mortgage, or raise their families,” the President said in his weekly address which is released to radio stations and the Internet.
The president reviewed steps his administration had taken during the past week to address the economic crisis.
He noted that on Wednesday, his administration released guidelines lenders will use for lowering mortgage payments for up to 4 million homeowners.
“This plan is now at work,” he said.
On Thursday, he said the administration and the Federal Reserve launched an initiative to generate up to a trillion dollars in new lending for consumers.
He also promoted his proposed budget which will generate a $1.75 trillion deficit this year, saying it was needed to boost the economy. He argued that his budget includes items which were not included in the budgets of the previous presidential administration.
He also said he is moving forward with a health care system overhaul, holding a summit on the issue on Thursday to generate ideas for future proposals.