President Obama, speaking this afternoon in Cleveland, seemed to celebrate the unemployment rate of 8.1 percent, and said it "typically take[s] countries up to ten years to recover from financial crises of this magnitude."
"Throughout history, it has typically taken countries up to ten years to recover from financial crises of this magnitude," Obama said. "Today the economy's many European countries still aren't growing and their unemployment rate averages around 11%. But here in the United States, Americans showed their grit and showed their determination. We acted fast. Our economy started growing again six months after I took office, and it has continued to grow for the last three years."