'Glimmers' of Economic Hope, But Work's Not Done: Obama

After a meeting today with the administration's top economic officials, President Obama said he’s starting to see “glimmers of hope,” Bloomberg reports. The president noted that government loans to small business are up but cautioned, “We’ve still got a lot of work to do.” Factory orders are up for the first time since July and home buying continues to rise, but unemployment is expected to continue to climb.

“The economy’s still under severe stress,” the president said, “and obviously during these holidays we have to keep in mind that whatever we do ultimately has to translate into economic growth, and jobs, and rising incomes for the American people.” (More President Obama stories.)