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Obama discusses the economy, GDP numbers


In brief remarks to steel workers at a manufacturing plant outside Washington, President Obama today cited the new Gross Domestic Product data showing the U.S. economy grew slightly at a pace of 2% in the 3rd quarter, adding that his "mission is to accelerate that recovery."

Obama defended his administration's economic agenda for encouraging small business investment and job growth through government lending incentives, but he said that government "can't guarantee the success of any company."

Government has a responsibility, he continued, to offer "targeted, temporary" incentives to help small businesses to create the conditions for them "to spur investment."

The president described a proposal to allow businesses to deduct investments, calling it a "good idea, a proven idea" that will lead to small business job growth.

And he made a quick pitch to the 200 or so workers in the audience to vote, saying he hoped they were "using as an example" the plant owner who told the president he had voted early.

Noting the "height of the political season," Obama said when "it's over," he expects Democrats and Republicans to work together to promote jobs and growth.