(NECN: Fairfax, Virginia) - President Barack Obama says his administration has "stopped the bleeding," but the pace of recovery is not where it needs to be, in terms of the economy.
The President spoke this afternoon during a gathering in the backyard of a Northern Virginia family's home.
Obama is urging the Senate to pass a bill that would cut taxes for small businesses and encourage community banks to lend to them.
The Senate is expected to consider that bill when Congress reconvenes this week.
*Material from The Associated Press used in this report*