"Because of all of the things we've done, the the worst of the economic disaster is over."
I interpreted this statement as declaring his policies as success. The sacrifice did its job. He has declared that his policies have rescued the economy from its free fall and things will only get better now. I think it is a "MISSION ACCOMPLISHED" moment. If Obama is right, he'll bounce back a bit. If he's wrong, get ready for another free fall.
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