(WASHINGTON) -- President Obama on Thursday was able to briefly forget the many difficulties with the health care website to focus on another major problem facing the U.S.: the still sluggish economy. In that regard, the president is seeking more overseas investors, and he made his pitch at the Select USA Investment Summit in Washington to an estimated 1,200 foreign and U.S. business leaders.
Obama told the gathering, "Officials at the highest levels, up to and including me, are going to do even more to make the case for investing in America."
According to the president, by drawing in more foreign manufacturers and other businesses, it will help to reduce the nation's unemployment, which remains at 7.2 percent in spite of years of stimulus programs and aggressive action by the Federal Reserve to juice the economy.
In spite of the slow rate of growth, Obama boasted, "I believe there is no better place in the world to do business than the United States of America...We're not just the world's largest market. We're growing,"
The president's pitch came as Gene Sperling, director of the White House's National Economic Council, acknowledged, "Our competitors are organizing themselves. We either have to compete better or we'll lose out."
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