President Obama's Weekly Address Focuses on GDP Numbers, Recovery Act, New Foundation, and Innovation

In his weekly address, President Obama discusses the impact of the Recovery Act on recent GDP numbers and the New Foundation. He sees innovation as a key piece of that New Foundation. Here's what the President had to say about employment, a lagging economic indicator:

But history shows that you need to have economic growth before you have job growth.  And the report yesterday on our economy is an important sign that we’re headed in the right direction.  Business investment, which had been plummeting in the past few months, is showing signs of stabilizing.  This means that eventually, businesses will start growing and hiring again.  And that’s when it will really feel like a recovery to the American people.

And innovation:

Innovation has been essential to our prosperity in the past, and it will be essential to our prosperity in the future. But it is only by building a new foundation that we will once again harness that incredible generative capacity of the American people. All it takes are the policies to tap that potential – to ignite that spark of creativity and ingenuity – which has always been at the heart of who we are and how we succeed. At a time when folks are experiencing real hardship, after years in which we have seen so many fail to take responsibility for our collective future, it’s important to keep our eyes fixed on that horizon.

Watch the whole thing for yourself: