Obama discusses 2014 economic development plan

U.S. President Barack Obama made a statement on December 20 regarding improvements to the U.S. economy this year and his action plan for continuing to improve the economy in 2014.

"In 2013, our businesses created another 2 million jobs, adding up to more than 8 million in just over the past 45 months," Obama said. "Our economy grew at its strongest pace in nearly two years. The unemployment rate has steadily fallen to its lowest point in five years. Our tax code is fairer, and our fiscal situation is firmer, with deficits that are now less than half of what they were when I took office."

The President said that while the American economy is steadily increasing, 2014 can be the year that kicks it into high gear.

"I think 2014 needs to be a year of action," Obama said. "We've got to build on the progress we've painstakingly made over these last five years with respect to our economy and offer the middle class and all those who are looking to join the middle class a better opportunity, and that's going to be where I focus all of my efforts in the year ahead."

Obama said that overall the U.S. is seeking to strengthen its position at home by strengthening the economy and its position as a world power.