President Obama's Prospects

Obama hits the trail hoping economic turnaround mirrors Reagan's comeback.
2:02 | 01/09/12

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Transcript for President Obama's Prospects
As the president gears up for his reelection race and starts fine tuning his strategy. He's now armed -- those new job numbers 200000 new jobs unemployment now the lowest in three years. Tonight we look for clues from another first term president and the daunting numbers he faced back then that nearly the same time and his presidency. Here's ABC's David -- tonight. The debate reaffirmed the Obama campaign's belief that Mitt Romney is destined to be their opponent David Axelrod on ABC's this week. I don't think conservatives trust him and I don't think moderates trust them and you saw last night. In shifting on a whole range of musicians -- abortion to China two to taxes. The Obama team knows their path to re election runs not just through a Republican but the unemployment numbers to. It's not just the unemployment number that has to come down. He -- instill a better sense of hope in the direction of the country. There is history here now it's time point 4% halfway through Ronald Reagan's first term the economy was sour unemployment hit nearly 11%. What we must guard against. And those who -- make or try to make a political football. Out of this. Cruel fate for so many of our people and there's bad news. But that's strikingly high jobless rates started to tick down to little more than 7%. Just before the election Reagan won in a landslide so now look at midway through Barack Obama's -- A high of nine point 8% which -- been ticking down as well will continue to Election Day. Even conservative commentators see trouble. If it improves 110 of 1%. 110 of 1%. Between now and September it'll be at seven point 6%. And in the right direction and you could have Obama and -- That's why you hear the president talk about job she's hoping to maintain the momentum from that jobs report just last week. And next week he's inviting business leaders here to the White House who -- brought jobs back to America. He calls it in sourcing American jobs.

This transcript has been automatically generated and may not be 100% accurate.

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