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Obama: Gov't 'rescued our economy'

August 7, 2009 10:39:25 AM PDT
President Barack Obama is welcoming an improved national employment report, saying his administration has "rescued our economy from catastrophe." In an appearance on the White House Rose Garden, Obama applauded a Labor Department report earlier Friday saying that the jobless rate declined to 9.4 percent from 9.5 percent a month earlier.

But he said much more needs to be done and that he won't rest until "every American that is looking for a job can find one."

Obama said, "We have a steep mountain to climb and we started in a very deep valley."

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