Obama Fields Questions on Economy, National Security and Future Dog
Friday, November 07, 2008 at 4:17 pm
Flanked by his newly formed economic transition team at the Chicago Hilton, President-elect Barack Obama today gave his first press conference today.
Taking questions from the national press on the economy, national security, intelligence and what kind of dog his family will get, Obama was poised and measured in his responses. He deferred to President George W. Bush, saying that this country has only one president at a time.
Not surprisingly, the financial crisis was the dominant issue. Obama said he would confront the crisis “head-on” upon assuming office. If an economic stimulus package isn’t passed in the lame-duck session of Congress, it would be his top priority after he’s sworn in Jan. 20.
We need a rescue plan for the middle class that invests in immediate efforts to create jobs and provides relief to families that are watching their paychecks shrink and their life savings disappear. A particularly urgent priority is a further extension of unemployment insurance benefits for workers who cannot find work in the increasingly weak economy. A fiscal stimulus plan that will jump-start economic growth is long overdue – and we should get it done.
With Michigan Gov. Jennifer Granholm standing behind him, Obama also indicated he supports federal assistance to the country’s financially strapped auto makers, which he described as “the backbone of American manufacturing.”
I would like to see the administration do everything they can to accelerate the retooling assistance that Congress has already enacted. In addition, I have made it a high priority for my transition team to work on additional policy options to help the auto industry adjust, weather the financial crisis and succeed in producing fuel-efficient cars here in the United States. I have asked my team to explore what we can do under current law and whether additional legislation will be needed for this purpose.
Mindful that his words carry the weight of an incoming president, Obama was careful not to say too much. He declined to respond to a question about whether anything had struck him during his first daily intelligence briefing yesterday.
He also did not answer a question on how soon he plans to send low-level envoys to countries such as Iran, Venezuela and Syria. Obama acknowledged receiving a congratulatory letter from Iranian President Mahmoud Ahmadinejad, but said it was being reviewed and he would respond appropriately.
The news conference, which lasted approximately 20 minutes, may have offered some clues about how he will treat the press as president. The mood was serious but often turned light and personal.
When he called on Chicago Sun-Times columnist Lynn Sweet, whose arm was in a sling, he asked what had happened to her. Sweet said she had “cracked her shoulder” running to Obama’s election night speech in Grant Park.
Sweet asked, among other things, what type of dog Obama’s family intended to get, following the announcement during his acceptance speech that his daughters will be receiving a puppy.
“This is a major issue,” Obama responded. “I think its generated more interest on our Website than just about anything.”
Obama said that the successful candidate must be hypo-allergenic because his daughter, Malia, is allergic to dogs. However, Obama said, this must be reconciled with his family’s preference to adopt a dog from a shelter. He joked that these dogs tend to be mutts, like him.
4 Comments
Comment posted November 7, 2008 @ 10:52 pm
The never-ending cycle of health problem, unemployment, poverty, terrorism, increasing standard of living of people, insufficient supply of food are just some of the current problem our economy is facing today, and sadly there were almost 10 million of the world’s children dies each year at the age of five because of hunger. These were the underlying great problems that must be faced by our newly elected US President Barack Obama of Democratic Party.
During these days, the economy is the major focus for almost all Americans. So many pundits are declaring that the Dow Jones is falling toward 8000 and forewarning consumers to “back out now.” People hear this fear-promoting assertion and quickly pull their money out of the market and limit their spending, thus everything begins to freeze. However, there are those who believe that we are in the recovery phase of a cyclical recessing, not a “massive contraction.” Economist Jeff Sachs of the Earth Institute at Columbia University and Dan Shaffer of Shaffer Asset Management points towards the light at the end of the tunnel on a recent video segment of a discussion on Fox Business Network. Sachs praises the Feds for taking on the critical problem of maintaining a good grasp on short-term money markets. Businesses would not be able to make payroll if those were to freeze. Moreover, it would become exceedingly difficult to obtain working capital. Shaffer digs into the numbers to offer the troubled an encouraging word. He evaluates America’s current recession through historical context, indentifying that there has been 14 distinct periods in American History since 1929 where indexes have fallen an average of 40 percent or more. The drop was more than 49 percent recently in 1973, and still the country survived. Nonetheless, there will be people investing in various industries. Huge entrepreneurs who have money to invest – people like Warren Buffet – will notice the wide open space with almost no competitors and dive in to invest while the price is right. What had been damaged is well on the way toward repair, so don’t pull out and hide! This is the only way we know to keep the system going for everyone. If you run into some short-term problems, understand that products like short term installment loans are an option for help. Let’s continue to stimulate our country’s economy.
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Comment posted November 9, 2008 @ 5:14 pm
Pick on Nancy Reagan , as Joe Biden says this man has steel in his spine.
Comment posted November 10, 2008 @ 1:14 am
Pick on Nancy Reagan , as Joe Biden says this man has steel in his spine.
Comment posted June 2, 2010 @ 5:19 pm
Businesses would not be able to make payroll if those were to freeze. Moreover, it would become exceedingly difficult to obtain working capital. Shaffer digs into the numbers to offer the troubled an encouraging word.
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