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He recalled those dark days: “By the time I took office, the economy was shrinking by an annual rate of more than eight percent. Our businesses were shedding 800,000 jobs each month. It was a perfect storm. Over the last three and a half years, our businesses have added 7.5 million new jobs. The unemployment rate has come down, our housing market is healing, our financial system is safer – but, that’s not the end of the story. As any middle-class family will tell you, or anybody who is striving to get into the middle-class, we are not yet where we need to be, and that’s what we’ve got to focus on.”