With key budget battles ahead in Washington this fall over the debt ceiling and federal spending, Obama embarked on a campaign-style tour earlier this summer to showcase those economic areas he views as strong and sees, more broadly, as providing indications of a recovery. During his tour debut, he used the manufacturing sector, housing sales, and the stock market to make his case for improvement.
“Over the past four years, for the first time since the 1990s, the number of American manufacturing jobs has actually gone up instead of down,” Obama told a crowd gathered at Knox College in Galesburg, Ill.
“The good news is over the past four years, we’ve helped more responsible homeowners stay in their homes,” Obama also said in Galesburg. “And today, sales are up and prices are up, and fewer Americans see their homes underwater.”
And then this, from the president: “Now, today, a rising stock market has millions of retirement balances going up, and some of the losses that had taken place during the financial crisis have been recovered.”
One recent manufacturing industry report found the “pace of growth in the US manufacturing sector accelerated in July to the highest level in two years as new orders surged,” according to Reuters. Reuters said the report’s data supports “the view the economy will pick up in the second half of the year.”