Solid economic growth achievable in 2013: Obama

U.S. President Barack Obama. PHOTO/File

President Barack Obama says 2013 can be a year of solid economic growth, but only if Washington gets out of the way.

In his weekly radio and Internet address, Obama says there are signs of progress in real estate, manufacturing and job-creation.

But other signs are worrying. Unemployment ticked up from 7.8 percent in December to 7.9 percent in January. And the Commerce Department says the economy shrank at an annual rate of 0.1 percent in the final months of 2012.

Obama says the U.S. must lower health care costs and close tax loopholes for corporations and the wealthy. The president insists that closing tax loopholes should enable the U.S. to “continue to fund things that can help us grow” without raising tax rates again.

In an interview on CBS a few hours before the Super Bowl, Obama said he wants the tax system to be “fair and transparent,” noting that the average taxpayer can’t take advantage of things like offshore tax havens.

In the Republican address, Rep. Susan Brooks of Indiana says Democrats must get serious about the nation’s spending problems. She’s calling on Senate Democrats to pass a budget.

Copyright 2013 The Associated Press