STORY BY KAREN LEIGH

WASHINGTON – President Barack Obama called on Americans to “get serious” about economic reform Tuesday while laying out his vision for pulling the nation out of economic recession.

Before a packed auditorium of cheering college students at Georgetown University, Obama detailed the steps his administration has taken to fix the economy but warned that there would be more “tough times” ahead.

Though the administration had billed the speech as a “major” event, the president did not propose new legislation or update his rhetoric. Instead, he reiterated his mantra that though action was being taken, there were no quick fixes.

That message took on a new meaning this week, coming on the heels of the lower-than-expected March consumer spending report released by the Commerce Department, which said Americans are spending less on products across the board as job loss and economic uncertainty continue.

This year will "continue to be a difficult year for America’s economy, and obviously, most difficult for those who’ve lost their jobs, with “more pain before it ends,” Obama said.

“The market will continue to rise and fall. Credit is still not flowing nearly as easily as it should. The process for restructuring AIG and the auto companies will involve difficult and sometimes unpopular choices. We are not finished yet on that front. And all of this means that there’s much more work to be done.”

He said Americans should expect an “unrelenting, unyielding” effort by his administration as it works to curtail a recession that has led to a national unemployment rate of 8.5 percent.

“I want every American to know that each action we take and each policy we pursue is driven by a larger vision of America’s future,” Obama said.

He also expressed his determination to stop the rising costs of health care and to fix Social Security, which he said would help trigger economic growth.

In a CNN/Opinion Research Corporation poll released Tuesday, 58 percent of Americans said they though Obama had “a clear plan for solving the country’s economic problems.”

“Our most urgent task has been to clear away the wreckage, repair the immediate damage to the economy, and do everything we can to prevent a larger collapse,” Obama told the Georgetown crowd.

Obama used the speech to directly address the millions of Americans buried under loans, like many of the students sitting before him.

“We’re moving aggressively to unfreeze markets and jumpstart lending outside the banking system, where more than half of all lending in America actually takes place,” he said. “To do this, we’ve started a program that will increase guarantees for small business loans and unlock the market for auto loans and student loans.”

Obama also discussed the steps he’s taking to stabilize the housing market. “We’ve launched a plan that will save up to four million responsible homeowners from foreclosure and help many millions more to refinance their homes,” he said.

Despite the somber tone of the speech, there were moments of levity, such as the introduction of Georgetown President John J. DeGioia, shortly before Obama’s much-anticipated entrance.

“Please welcome the president of. Georgetown University,” the announcer told the young, cheering crowd to much laughter.