US Economy to Worsen, Says Obama

December 8, 2008

(ChattahBox) — President-elect Obama pledged to pursue a recovery plan for the US economy on Sunday. He stated that there is a need to create more public-works programs that are not just built around highway projects and bridges but more “green jobs” need to be created by disseminating new technologies. He stated on Sunday on ‘Meet the Press’ that he would force more accountability on banking system for greater transparency of operations and their investments. He advocated stronger financial regulations so that taxpayers know where their money is going.

Obama also warned that the US economy may further slide into recession and the country may witness more job losses in the coming few months. There have been already more than half a million job losses in November alone this year.

He was concerned about tens of thousands of American soldiers wounded in the Iraq war and the Afghanistan war. On the other hand, he also seemed concerned about millions of Americans and their economic plight who are trying to make ends meet. He promised that if the right steps were taken the economy can be put back on track. “We can emerge leaner, meaner and ultimately more competitive and more prosperous,” he said.

Appearing Sunday on NBC’s “Meet the Press”, he did not commit about the dollar figure but ensured that his economic team is making every possible effort to craft a substantial stimulus package. Although, he was definitely optimistic about the efforts being put into financial restructuring, nevertheless, he re-iterated several times that economy could worsen before it gets better.

On a side note Tom Brokaw, noting that the White House was a no-smoking zone, asked Obama, “Have you stopped smoking?”

“I have,” Obama replied, smiling broadly. “What I said was that there are times where I have fallen off the wagon.”

“Wait a minute,” Brokaw interjected, “that means you haven’t stopped.”

“Fair enough,” Obama said. “What I would say is that I have done a terrific job under the circumstances of making myself much healthier. You will not see any violations of these rules in the White House.”

Obama was often observed on the presidential campaign trail chewing Nicorette gum, which helps ease the craving for nicotine. He has tried several times to quit.


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