Obama: "The time for companies to step up 'and wager on american workers

"It 's time for companies to accelerate," said Obama during the town hall Wednesday is hosted by CBS News, which was broadcast this morning's Early Show.

American taxpayers, he said, helped bail out several industries in 2008 and 2009.

"Companies have benefited, and they do a lot of money," Obama said, "Now is the time to start betting the American workers and American products."


Some companies are doing, the President added. He said that Intel "chip maker in Oregon ... they just built a new plant one billion dollars and are hiring. - And hundreds of new - and American workers to work in this new facility and there are a lot of companies that are doing the right thing. ".

The president also warned that although the economy seems to be improving, it will take "several years back, if we must."

Previously, we along word of a dip in applications for unemployment benefits, increase in wholesale prices and a modest increase in retail sales.
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