President Obama says he and congressional leaders will reach an agreement on the debt and deficit by the August 2 deadline.

He says after the agreement is reached, the United States will be in the position to make the kind of investments necessary to put the economy back on the right track and win the future.

The president told reporters Monday that the recession has been hard on everyone, especially on people who have less.

He said his administration took very aggressive steps after he took office to stabilize the economy and prevent a depression. He says the efforts have been largely successful, but that the economy has not been growing fast enough and the unemployment rate has been “stubborn.”

He says is concerned about the many people who are working hard but are still falling behind on their bills.