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Obama says will confront economic woes head-on

President-elect Barack Obama addresses questions from the media during his f...
By Deborah Charles and Caren Bohan, Reuters
47 minutes ago
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CHICAGO — U.S. President-elect Barack Obama said on Friday the United States was facing one of its greatest economic challenges and vowed to confront the crisis head-on as soon as he takes office in January.

Investors are awaiting Obama's choice of Treasury secretary who will spearhead economic recovery, but Obama made clear he would not be rushed into making hasty appointments.

"I want to move with all deliberate haste, but I want to emphasize deliberate as well as haste," he said.

At his first news conference since being elected on Tuesday, Obama noted the latest Labor Department figures which showed that U.S. unemployment hit a 14-year-high in October after employers slashed jobs by an unexpectedly steep 240,000.

"We are facing the greatest economic challenge of our lifetime and we're going to have to act swiftly to resolve it," Obama said, as his team of economic advisers, who include businessmen and economists, stood in a line behind him.

The brief news conference in Chicago followed a meeting with his 17-member transition economic advisory board on how to tackle the worst economic crisis confronting the United States since the Great Depression of the 1930s.

Obama said he wanted the Democrat-controlled U.S. Congress to pass a second stimulus package as soon as possible to stabilize the economy, which analysts say may be in deep recession by the time he is inaugurated on January 20.

"We are going to need to see a stimulus package passed either before or after the inauguration. I want to see a stimulus package sooner rather than later."

With U.S. automakers also reporting billions in losses on Friday, Obama urged the Bush administration to accelerate a $25 billion retooling assistance plan already passed by Congress.

The automakers are lobbying for up to $50 billion to prevent a collapse that could cost over two million jobs.

In his first foreign policy pronouncement as president-elect, Obama called for an international effort to prevent Iran from developing a nuclear weapon, a day after Iran's president urged him to implement a "fairer" U.S. policy in the Middle East.

Obama, who has said he does not rule out direct talks with Iran's leaders, also called on Tehran to end what he called the country's support for terrorist organizations.

Obama said he would be reviewing a letter from Iranian President Mahmoud Ahmadinejad, congratulating him on his election, and would "respond appropriately." But he said the U.S. approach to Iran could not be done in a "knee-jerk" fashion. "I think we've got to think it through," he said.

(Additional reporting by Ross Colvin, Donna Smith, Kristin Roberts and Andrew Quinn in Washington, Pedro Nicolaci da Costa in New York, editing by Alan Elsner)

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Doing the right thing isn't always the same as doing the easy thing.

Gee, maybe that woman in the Drs. office knew something we didin't..DH overheard her..a black woman on the phone..talking loudly as if to purposely let as many hear her as possible, telling whoever she was talking to that now that Obama is elected they will all get $1,000, each member of the family, she emphasized it with..10 people will equal 10,000. Where is the he!! did that come from? Is that what these people really think? It's that ice cream party syndrome!

What is the significance of including her race in your rant?

Now, that is a silly question, isn't it.

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GO NAVY WRESTLING!!BEAT ARMY!!!
RJB 3/18/60 - 5/22/04
We miss you, sweet brother
God Bless the USA!!!!! Praying for my Youngster son at United States Naval Academy, class of 2014!!

How ironic. I was telling my friends to watch for an "entitlement" package of $1000.00 per African American for retribution for slavery!!! lol Maybe it really is going to happen!!!

I've always wondered, when you talk to your friends about things like this, do you take your white hoods off or do you just keep them on?

A very mature thing to say! NOT

A stimulus package? Isn't that very Bush-esque? I thought we were getting something new and fresh.

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Most likely, it will happen under the current administration.

My bet is to not count on cash in your pocket (which I thought was silly and would think so again), but to look for infrastruction and energy investments to increase job availability.

Oh crap! You owe me a new keyboard....I just spit Diet Coke all over mine!

That was funny!

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Mental that one, I'm telling you. ---Ron Weasley, "Harry Potter and the Chamber of Secrets"

They leave them on. They think white hoods and a King James Bible held * just so * will cover up their black hearts.

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* Sometimes I dance in the boat..... just to rock it. *

It might, but Obama did say that if it isn't, that will be the first thing he does.

I find the whole "we're going to build infrastructure" thing now pretty amusing considering how badly Alaska got bashed for wanting to do the same.

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

well, crap again---homer, get w/ nightowl, btwn the two of you, I'm owed a new computer. Keyboard from her, and now a screen from you!

too funny, too funny

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Mental that one, I'm telling you. ---Ron Weasley, "Harry Potter and the Chamber of Secrets"

I believe it would go towards bridges and roads that are crumbling. Not bridges and roads to nowhere. Additionally, drinking water and sewage plants are in great need of repair in many areas. Not to mention our levy system isn't the best in a lot of areas.

Here is a report of road and bridge problems by states. Mind you, this site is probably a civil engineering lobby site. But, it is the first hit I found that is pertinent.

Infrastructure Report Card 2005

Why is everyone acting so shocked about this?

They were talking about this weeks ago... along with the fact that they might have to bail out the auto industry as well....but, the unemployment number and auto reports came out this week. The next thing is going to be the states. It isn't just California that is in crisis, many states are going to have to cut job, close fire departments and layoff police (happening in Cali now), cut vacation pay to employees, and do away with programs.

The were talking about it on Lou Dobbs tonight. The lack of property tax (housing collapse) mixed with declining sales tax revenue mixed with the push of unemployment is causing another collapse. I would bet money (if I had any to spare) that we will see another trillion dollars in bail outs and stimulus before it starts to even APPEAR to even out.

The new administration is being handed a county on the cusp of a depression. Ah, the Bush Admin...the gift that keeps on giving.

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

Yes, it is a gift that Bush leaves Mr. Obama's incoming administration, but the neocons will somehow find a way to place this square in the hand of President Obama. Remember when Clinton left the Bush administration with a POSITIVE balance in the kitty.....

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"Well-Behaved Women SELDOM make history."Laurel Thatcher Ulrich


"Yesterday is but a vision, and tomorrow is only a dream. But today well lived makes every yesterday a dream of happiness, and every tomorrow a dream of hope." Anonymous

"Your candle does not lose it's light by lighting another candle" Generosity

Have the courage to be yourself.

The people of Alaska beg to differ with you. . .but whatever. . .

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Mature or not...if the hood fits....and all that.

__________________
GO NAVY WRESTLING!!BEAT ARMY!!!
RJB 3/18/60 - 5/22/04
We miss you, sweet brother
God Bless the USA!!!!! Praying for my Youngster son at United States Naval Academy, class of 2014!!

Great.

dl

Well, if there is another stimulus check and those who don't want to accept theirs, I will take it. Of course, I am only helping them be true to their convictions.

__________________
GO NAVY WRESTLING!!BEAT ARMY!!!
RJB 3/18/60 - 5/22/04
We miss you, sweet brother
God Bless the USA!!!!! Praying for my Youngster son at United States Naval Academy, class of 2014!!

I didn't get one then, and I won't get one this time.

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

Once again WHERE is the government getting the money. They do not have it so they will either borrow it (T-bill sells,etc) or just print (create from thin air) the money.

This will only last for short term... a few weeks then back to reality. Unless the government gets serious about monetary policy not much is going to change.

It is deficit spending, loans from China....and it doesn't hurt that we own Fort Knox and can just can print up some more. Where do you think all the money to pay for Iraq has been coming from. Messy, messy, messy.

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

Me, neither, which is why if anyone doesn't want to participate in this new administration, I will take their check for them.

__________________
GO NAVY WRESTLING!!BEAT ARMY!!!
RJB 3/18/60 - 5/22/04
We miss you, sweet brother
God Bless the USA!!!!! Praying for my Youngster son at United States Naval Academy, class of 2014!!

Wait a second....that is a brilliant idea! I will sign on for that!

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

I didn't know about this, and from listening to the news, Obama speaks as it is his idea. So, this was alredy on the books???

Now that you mention it, I do remember some talk about another stimulis check....shortly after the first one. Is that this???

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Doing the right thing isn't always the same as doing the easy thing.

Yup. They've been talking about throwing money at the problems for weeks. But, they've been VERY careful about not saying too much. As we enter the holiday season, they don't want consumer confidence to drop too much lower or the bottom will completely fall out. We are in a recession and on final approach to a full scale depression.

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

I'm really confused now. This morning I read in the paper that President Bush does NOT want this, and has said he will VETO a new stimulis package. However, Obama has said that this will be the first thing he does when he is in office, as well as food stamps, medicaid, and some other thing.

Doesn't that make it Obama's plan, then?

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Doing the right thing isn't always the same as doing the easy thing.

Wait...I'm sorry. They've been talking about more bail outs for weeks. Sorry. My bad.

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

Did you hear the there's going to be currency with barry's picture on the front?

No. All I heard was some more bitter quacking....

Quack. Quack. Quack.

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

Are you being serious or snarky? I 'm seriously trying to figure this stimulis thing out.

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Doing the right thing isn't always the same as doing the easy thing.

It's the welfare check...

No Alli, I'm serious. I was confusing things. I don't know much about the stimulus. I've been watching the potential further bailouts. I didn't mean to speak out of turn on the stimulus side of things. Sorry.

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I'm the kind of woman when my feet hit the floor in each morning, the devil says "Oh crap, she's up."

The stimulus package that is being talked about is to create jobs, the checks will not go to taxpayers like the last time, because that many did nothing because of the high gas prices during the summer.

What they are talking about doing is very close to what FDR did during the great depression, remember learning about his New Deal. Create jobs so people are making money so they can spend it.

No, Bush said he will VETO another stimulus plan. Obama said he will make it top priority when he gets in office, if it doesn't go thru before that.

What I read says he wants to: extend jobless benefits, send food aid to the poor,dispatch Medicaid funds to states and spend tens of billions of dollars on public works projects.

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Doing the right thing isn't always the same as doing the easy thing.

My post was in response to the post directly above it regarding the depression that Bush2 is handing to P.E. Obama-unlike the SURPLUS he got from Clinton's administration. So, your response including my post is not responsive to what I said. Call someone else out on this one....

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"Well-Behaved Women SELDOM make history."Laurel Thatcher Ulrich


"Yesterday is but a vision, and tomorrow is only a dream. But today well lived makes every yesterday a dream of happiness, and every tomorrow a dream of hope." Anonymous

"Your candle does not lose it's light by lighting another candle" Generosity

Have the courage to be yourself.

It might be helpful if you quote the post you are replying to. The topic of the thread is the stimulus package. I'm not trying to call anyone out,just trying to get the facts straight. Even Kelliiii, who you say you were replying to, said she was incorrect in stating that this was Bush's idea.

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Doing the right thing isn't always the same as doing the easy thing.