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Obama Pledges Relentless Fight on Economy

President Barack Obama is pledging a relentless fight to rebuild the economy as millions of families struggle.

President Barack Obama
CNBC
President Barack Obama

Obama is telling union officials in Washington, "We are not giving up, and we are not giving in."

The president spoke in personal terms Wednesday about the plight of people who have not been able to find work in the deep, enduring recession.

He spoke of spouses who must have uncomfortable conversations about not being able to afford their homes any more or not being able to save money for college funds.

The president spoke to the AFL-CIO Executive Council.

He alluded to the Republican administration of George W. Bush in saying that the government held an improper animosity toward unions for eight years.

Obama also said Wednesday that the battle to stop the devastating BPoil spill in the Gulf of Mexico was finally near an end, as he responded to a spate of positive news on the issue.

Obama hailed as "welcome news" that BP's efforts to plug the leaking well for good appeared to be working, and he also welcomed a report from U.S. scientists that most of the spilled crude had been skimmed, had broken up or was disappearing from the Gulf's waters.