CNN Wire Staff
Washington (CNN) - President Barack Obama on Wednesday blamed the anemic economy for the "shellacking" his fellow Democrats experienced in this week's midterm elections, but he acknowledged his policies hadn't done enough to bring down high unemployment.
His administration has "stabilized" the economy and spurred private-sector hiring, "but people all across America aren't feeling that progress," Obama said in a news conference the day after Republicans seized majority control of the House and whittled down the Democratic majority in the Senate.
He called the results a "shellacking" for him and said: "I've got to take direct responsibility for the fact that we have not made as much progress as we need to make."
"If right now we had 5 percent unemployment instead of 9.6 percent unemployment, then people would have more confidence in those policy choices," Obama said.
The president faced reporters a day after voters replaced at least 60 Democrats in the House of Representatives, according to CNN projections, returning control of the chamber to Republicans, who lost it in 2006. In the Senate, Democrats lost at least six seats but retained control of the chamber, according to the projections based on analysis of exit polling.
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