Obama calls for ending govt spending cuts to grow economy

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　　"We learned that our businesses added nearly 250,000 new jobs last month. The unemployment rate fell to 7.7 percent, still too high, but now lower than it was when I took office," Obama said in his weekly address.

　　U.S. unemployment rate edged down 0.2 percentage point to 7.7 percent, the lowest since December 2008, but governments of all levels slashed² 10,000 posts in February due to government outlays³ cuts, U.S. Labor⁴ Department reported on Friday.

　　"Our businesses have created jobs every month for three years straight - nearly 6.4 million new jobs in all. Our manufacturers are bringing jobs back to America. Our stock market has rebounded⁵. New homes are being built and sold at a faster pace. And we need to do everything we can to keep that momentum⁶ going," Obama said.

　　"At a time when our businesses are gaining a little more traction⁷, the last thing we should do is allow Washington politics to get in the way," he noted⁸.

　　Obama has reached out to Republicans earlier this week to find smarter ways to grow U.S. economy and reduce the government's budget deficits⁹ than the arbitrary spending cuts.

　　Roughly 85 billion U.S. dollars of spending cuts started to hit various governmental departments this year starting on March 1, as agreed by Democrats¹⁰ and Republicans in January to resolve the so- called "fiscal¹¹ cliff".

　　"I'll keep fighting to solve the real challenges facing middle- class families," Obama stressed.

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