"We've come a long way since the first three months of 2009, when our economy shrunk by an alarming 6.4 percent. In fact, the 3.5 percent growth in the third quarter is the largest three-month gain we have seen in two years. This is obviously welcome news, and an affirmation that this recession is abating and the steps we've taken have made a difference." — President Barack Obama commenting on the economy Thursday.