Obama says 2013 can be year of solid economic growth

PanARMENIAN.Net - U.S. President Barack Obama says 2013 can be a year of solid economic growth, but only if Washington gets out of the way.

In his weekly radio and Internet address, Obama said there are signs of progress in real estate, manufacturing and job-creation.

However, unemployment ticked up from 7.8 percent in December to 7.9 percent in January. And the Commerce Department says the economy shrank at an annual rate of 0.1 percent in the final months of 2012.

Obama said the U.S. must lower health care costs and close tax loopholes for corporations and the wealthy.

In the Republican address, Rep. Susan Brooks of Indiana stated that Democrats must get serious about the nation's spending problems. She called on Senate Democrats to pass a budget.