Obama: Job Loss Report is “Sobering”

President pledges to improve economy through health care reform

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President Obama pledged to reform the struggling American job market in his weekly address yesterday, telling citizens the September job loss report was a "sobering reminder" that recovery is necessary to fix the ailing U.S. economy.

"Employment is often the last thing to come back after a recession," said Obama, who reinforced the idea that pending health care legislation would help stimulate small businesses, enabling them to spend funds they'd otherwise dole out for expensive insurance on other methods of growth.

"Yesterday's report on September job losses was a sobering reminder...that we will need to grind out this recovery step by step," Obama said in the address. "I won't let up until those who seek jobs can find them, until businesses receive capital and credit and thrive and until all responsible homeowners can stay in their homes."

The president again spoke about his vision for a health care "marketplace," where potential insurance buyers could shop around for an option that fit them -- and their budget. This week in the Senate, two health care bills containing a public option for insurance were shot down, paving the way for a more moderate bill proposed by Montana Sen. Max Baucus.

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