April 23rd, 2011
02:22 PM ET
From CNN's Rebecca Stewart
WASHINGTON (CNN) – President Barack Obama recognized the economic strain caused by soaring gas prices and stressed the importance of clean energy initiatives to reduce America's dependence on oil in the weekly address Saturday.
"Even if you haven't faced a job loss, it's still not easy out there," he said.
Obama added that despite rising costs, paychecks are not getting any bigger.
"There's no silver bullet that can bring gas prices down right away," he said.
Obama offered solutions including the "safe and responsible production of oil at home," and discussed a task force launched Thursday by Attorney General Eric Holder that has the mission of "rooting out cases of fraud or manipulation in the oil markets that might affect gas prices, including any illegal activity by traders and speculators."
For the full story, click on the political ticker.