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Two Years In, Obama Says Full Recovery Will "Take Us Several Years"

PRESIDENT OBAMA: That's exactly right. So -- so part of what's happened also is some structural changes in the economy. Where it used to be that there was broad-based shared prosperity, now if companies are doing really well -- they're not necessarily hiring back workers. They're just figuring out how to do more with fewer workers. That may increase profits, but it doesn't help folks who are lookin' for a job. And often times that look -- puts a lot of pressure on the people who are already on the job.

So, some of the changes that are taking place in the economy are ones that took a decade or two to get to. And it's gonna take us several years for us to get back to where we need to be. But the important thing, though, Harry is -- and -- and I'm sure -- as we get questions today, I want to emphasize. Is we're moving in the right direction. The fact that the economy is growing is a good thing. The fact that companies are making a profit is a good thing.

FLASHBACK: Obama To Governors: Recovery Act Helped "Whether You Admit It Or Not"

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