Worst of economic storm passed: Obama

US President Barack Obama declared in his State of the Union address on Wednesday that the worst of the economic storm had passed, but that a trail of devastation was left behind. Text of Obama's speech

US President Barack Obama declared in his State of the Union address on Wednesday that the worst of the economic storm had passed, but that a trail of devastation was left behind.

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Obama said his administration's early actions last year had staved off a repeat of the 1930s Great Depression.

"And one year later, the worst of the storm has passed, but the devastation remains," Obama said.