President Barack Obama says American businesses will be able to look ahead with confidence, once they're convinced that officials in Washington have their "act together."

Obama says there's reason for optimism in an economy that had been contracting, but is now expanding. And he says he's heard CEOs say they can now make investments and hire more rapidly. But he says they also want to believe that Washington is "able to get things done."

Obama told reporters Tuesday that simply going back to the way things were, without reforms in the financial sector, is not the right way to end the uncertainty facing American businesses.

He called on Republicans to work on a bipartisan effort for new financial regulation and for health care reform.