President Barack Obama said in an interview aired on Monday that the US economy must grow faster and that unemployment is a "huge problem." "We've got to keep on growing faster than we're currently growing," he said in a CBS interview taped Friday and aired on the "Early Show." "We've got to make sure that we deal with the long-term unemployment that's out there which is a huge problem."
US economic growth slowed in the second quarter to a 2.4 percent annual rate. Obama's popularity has been battered by a sluggish economy and a 9.5 percent unemployment rate. "This has been an extraordinary downturn so that means that if you're in a deeper hole, it's going to take longer to come back," Obama said.
"People have every right to be scared, to be angry, to be frustrated. I took this job because I was convinced that I could solve these problems not just short-term but long-term. But I also knew this was going to be a bumpy road ahead," he said. "I don't expect the American people to be satisfied when we're only half of the way back," Obama said.