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Obama says unemployment to fall below 8 pct before election

(Xinhua)

09:47, December 12, 2011

WASHINGTON, Dec. 11 (Xinhua) -- U.S. President Barack Obama said he believes unemployment rate will fall below 8 percent by the time U.S. voters cast their votes to choose next president in November 2012, according to an interview broadcast Sunday night.

In an interview with CBS' "60 Minutes," Obama said he thinks "it's possible" that the unemployment rate will be down to 8 percent by the time the election begins.

However, Obama said he's "not in the job of prognosticating on the economy," and what he does is "putting in place the tools that allow the economy to thrive and Americans to succeed."

He said for Americans who are struggling, they have "every reason to be impatient," but "reversing structural problems in our economy that have been building up for two decades, that was going to take time."

Obama is pushing elements of his American Jobs Act in the Congress, and trying to get payroll tax cut extended. He said those actions would help the economy and create jobs.

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