Obama blames economy for Democratic 'shellacking'

Obama: Power rests with people

President Barack Obama on Wednesday blamed the anemic economy for the "shellacking" his fellow Democrats experienced in this week's midterm elections, but he acknowledged his policies hadn't done enough to bring down high unemployment. His administration has "stabilized" the economy and spurred private-sector hiring, "but people all across America aren't feeling that progress," Obama said in a news conference the day after Republicans seized majority control of the House and whittled down the Democratic majority in the Senate.
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