FLASHBACK: Obama: My Presidency Will Be ‘A One-Term Proposition’ If Economy Doesn't Turn In 3 Years

August 5, 2011 - 2:03 PM

President Barack Obamam

President Barack Obama signs legislation increasing the federal government's debt limit on Tuesday, Aug. 2, 2011. (White House photo/Pete Souza)

(CNSNews.com) - President Barack Obama said in February 2009 that his presidency would be “one-term proposition” if the economy did not recover in three years, giving him less than six months from today.

“Look, I'm at the start of my administration. One nice thing about the situation I find myself in is that I will be held accountable. You know, I've got four years,” Obama told The Today Show’s Matt Lauer on February 1, 2009.

“A year from now I think people are going to see that we're starting to make some progress," said Obama. "But there's still going to be some pain out there. If I don't have this done in three years, then there's going to be a one-term proposition.”

When speaking at a campaign fundraiser on Wednesday, President Obama said, “When I said 'change we can believe in' I didn't say 'change we can believe in tomorrow.' Not change we can believe in next week. We knew this was going to take time because we've got this big, messy, tough democracy and that’s a great thing about America is that there are all these contentious ideas that are out there and we’ve got to make our case.”

The unemployment rate is currently 9.1 percent, according to the Bureau of Labor Statistics.