ID :
29217
Sat, 11/08/2008 - 23:20
Auther :
Shortlink :
http://m.oananews.org//node/29217
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Obama promises to act swiftly on economic crisis
Chicago, Nov 8 (PTI) Elected in the midst of the biggest economic crisis confronting the U.S. in decades, Barack Obama Saturday vowed to act swiftly to ease it by focusing on a stimulus package involving job creation and giving tax reliefs.
Two days after his landslide win in the elections, President-elect Obama addressed his first press conference that was largely confined to the immediate economic crisis that has global impact and domestic issues barring a reference to the controversial nuclear programme of Iran.
The 47-year-old Democrat from Illinois, the first Afro-American to be voted to the White House, said his first priority would be to pass "a stimulus package" if it is not adopted before his inauguration on January 20.
"We are facing the greatest economic challenge of our
lifetime and we're going to have to act swiftly to resolve
it," he said.
"Immediately after I become President, I will confront
this economic crisis head on by taking all necessary steps to
ease the credit crisis, help hard-working families and restore
growth and prosperity."
The current financial crisis is spilling out into the
rest of the economy, Obama said, adding although some action
has been taken to address the issue, more steps are needed.
"My transition team is going to be monitoring very closely
what happens over the course of the next several months."
The one thing, the President-elect said, "I can say with
certainty is that we are going to need to see a stimulus
package passed either before or after inauguration."
The Democrat, who met his council of economic advisers
before addressing the media, said he wanted to see a stimulus
package sooner rather than later.
"If it does not get done in the lame-duck session, it
will be the first thing I (will) get done as President of the
United States," Obama said.
In the press conference, the only international issue
that came up was Iran. Obama said Tehran's "development of a
nuclear weapon, I believe, is unacceptable".
"We have to mount an international effort to prevent
that from happening. Iran's support of terrorist
organisations, I think, is something that has to cease.
"...how we approach and deal with a country like Iran is
not something that we should do, you know, simply do in a
knee-jerk fashion. I think we've got to think it through," he
said.
He declined to get into the nature of intelligence
briefing he received on Thursday from the Director of National
Intelligence. "If there was something that I had heard, I
couldn't tell you." PTI
Two days after his landslide win in the elections, President-elect Obama addressed his first press conference that was largely confined to the immediate economic crisis that has global impact and domestic issues barring a reference to the controversial nuclear programme of Iran.
The 47-year-old Democrat from Illinois, the first Afro-American to be voted to the White House, said his first priority would be to pass "a stimulus package" if it is not adopted before his inauguration on January 20.
"We are facing the greatest economic challenge of our
lifetime and we're going to have to act swiftly to resolve
it," he said.
"Immediately after I become President, I will confront
this economic crisis head on by taking all necessary steps to
ease the credit crisis, help hard-working families and restore
growth and prosperity."
The current financial crisis is spilling out into the
rest of the economy, Obama said, adding although some action
has been taken to address the issue, more steps are needed.
"My transition team is going to be monitoring very closely
what happens over the course of the next several months."
The one thing, the President-elect said, "I can say with
certainty is that we are going to need to see a stimulus
package passed either before or after inauguration."
The Democrat, who met his council of economic advisers
before addressing the media, said he wanted to see a stimulus
package sooner rather than later.
"If it does not get done in the lame-duck session, it
will be the first thing I (will) get done as President of the
United States," Obama said.
In the press conference, the only international issue
that came up was Iran. Obama said Tehran's "development of a
nuclear weapon, I believe, is unacceptable".
"We have to mount an international effort to prevent
that from happening. Iran's support of terrorist
organisations, I think, is something that has to cease.
"...how we approach and deal with a country like Iran is
not something that we should do, you know, simply do in a
knee-jerk fashion. I think we've got to think it through," he
said.
He declined to get into the nature of intelligence
briefing he received on Thursday from the Director of National
Intelligence. "If there was something that I had heard, I
couldn't tell you." PTI
