Economic recovery 'painfully slow', says Obama

"The hole the recession left was huge and progress has been painfully slow," Obama told a press conference at the White House.

"For all the progress we've made, we're not there yet. And that means people are frustrated and why people are angry," Obama said, according to the BBC.

"Because I am president, and the Democrats have control (over) the House and Senate, it's understandable that people are saying, 'What have you done?'"

Obama again called on the Republicans to not oppose a bill to help small businesses when Congress returns next week from its summer break.

The Republicans were holding up the bill to prevent a political victory to the Democrats ahead of the US mid-term elections, he said.