Faltering Economy, Senate Revolt On Bush Tax Cuts Don't Faze Obama

Struggling to get back on message after a week of battling other controversies, President Obama touted what he called "enormous progress" made on the economy — while ignoring a growing insurgency from Democrats who want to renew the expiring Bush tax cuts in order to stave off a double-dip recession.

Speaking from the West Wing shortly after noon Friday, the president escalated his recent campaign of lambasting Republicans and Wall Street bankers, despite increasing concerns that the anti-business rhetoric discourages job creation.

Citing the Friday report from White House "pay czar" Kenneth Feinberg naming 17 financial institutions that distributed $1.6 billion in executive compensation, Obama excoriated the banks for paying out "lavish bonuses at the height of the financial crisis."

During his five-minute statement, the president again criticized his Republican opponents for "political games."

Looking to fire up the Democratic base for the looming midterms, Obama said of the extension of unemployment benefits: "We finally overcame the procedural blockade of a partisan minority in the Senate to restore unemployment insurance for about 2.5 million Americans who are out of work and looking for a job."

He also delivered a lecture on bipartisanship.

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