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US economy: Obama promises action

Posted on Jan 29 2014 | IBNS

Washington, Jan 29 : US President Barack Obama on Tuesday vowed to take steps to tackle economic inequality in the country and even promised bypass the divided Congress in doing so.

"Our job is to reverse these trends. It won't happen right away, and we won't agree on everything. But what I offer tonight is a set of concrete, practical proposals to speed up growth, strengthen the middle class, and build new ladders of opportunity into the middle class," Obama said in his annual State of the Union address on Tuesday.

"Some require Congressional action, and I'm eager to work with all of you. But America does not stand still - and neither will I. So wherever and whenever I can take steps without legislation to expand opportunity for more American families, that's what I'm going to do," he said.

He urged people to make 2014 as the year of action.

"In the coming months, let's see where else we can make progress together. Let's make this a year of action. That's what most Americans want - for all of us in this chamber to focus on their lives, their hopes, their aspirations," he said.

"And what I believe unites the people of this nation, regardless of race or region or party, young or old, rich or poor, is the simple, profound belief in opportunity for all - the notion that if you work hard and take responsibility, you can get ahead," Obama said.

He said business leaders across the globe have said that the USA is the number one place for investment.

"And for the first time in over a decade, business leaders around the world have declared that China is no longer the world's number one place to invest; America is," Obama said.

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