BARACK OBAMA: We've gone through the worst financial crisis and economic crisis since the great depression. We've made significant progress. The good news is that we're starting to see progress. So we're making progress. We're moving in the right direction.
ERIN BURNETT: 'Progress'? Does it add up? We looked at some important economic indicators with Bespoke Investment Research. Just take a look at the unemployment rate. This chart starts in the summer of 2007, when America was booming. At the very top, unemployment was 4.6 percent. A level it had hovered at for years. Today it's 8.2. Now take a look at consumer confidence. It was just shy of a record then. Today, it's more than 40 percent lower. And industrial production, despite recent gains in manufacturing is still not back to the levels of five years ago. And home prices, they peaked in 2006, down 35 percent from those levels, a bigger decline than in the Great Depression. One of our most reliable sources, Peter Kenny of Knight Capital Trading tells us at this stage of our recovery, we should be well past this level of stall in the rebound. We asked our political strike team, made up of independent reporters and analysts if the president can win just on the message that recovery is working, that there's progress. Forty-three percent said yes; 56 percent no.
Update 9:57: A previous version of this article quoted Burnett as saying, "Progress? Doesn't add up," rather than "Does it add up?" The transcript has been corrected above.