The Associated Press - Setting a new bar for the nation's economy, President Barack Obama said the unemployment rate could fall to 8 percent before he faces reelection next November. The unemployment rate, currently at 8.6 percent, hasn't been at or below 8 percent since he took office in January 2009 amid a global economic crisis.
In a recent interview on "60 Minutes," the president was asked specifically whether he would get the rate back down to 8 percent before next fall's general election. "I think it's possible," he said. The president also said that he didn't overpromise or underestimate the task of reviving the nation's economy, but that it would likely extend beyond his presidency.