But, it seems he still doesn't understand economics. He says cutting government spending has not helped the economy in the past. But when has government EVER cut spending overall? NEVER, Mr. Obama.
"This week, we also received the first estimate of Americaâs economic growth over the last few months. And it reminded us that bad decisions in Washington can get in the way of our economic progress," said Obama, presumably referring to the uptick in unemployment from 7.8 percent to 7.9 percent and the news that the economy contracted in the final quarter of last year.
The president did not name which decisions were "bad," and who specifically was to blame for those "bad decisions." But he did blame Washington.
"2013 can be a year of solid growth, more jobs, and higher wages. But that will only happen if we put a stop to self-inflicted wounds in Washington. Everyone in Washington needs to focus not on politics but on whatâs right for the country; on whatâs right for you and your families. Thatâs how weâll get our economy growing faster. Thatâs how weâll strengthen our middle class. And thatâs how weâll build a country that rewards the effort and determination of every single American," said Obama.
Obama reiterated his support for a "balanced approach" going forward.
"We all agree that itâs critical to cut unnecessary spending. But we canât just cut our way to prosperity. It hasnât worked in the past, and it wonât work today. It could slow down our recovery. It could weaken our economy. And it could cost us jobs â now, and in the future," said Obama.
"What we need instead is a balanced approach; an approach that says letâs cut what we canât afford but letâs make the investments we canât afford to live without. Investments in education and infrastructure, research and development â the things that will help America compete for the best jobs and new industries."