Barack Obama Talks Stimulus Package at First Press Conference - "We should get it done."

by Rob Walker | November 7, 2008 at 11:19 am

2078 views | 19 Recommendations | 8 comments

US President-elect Barack Obama gave his first press conference on Friday afternoon after his victory at the polls on Tuesday. He had just finished meeting with a 17-member transition economic advisory board, who will help him choose his white house team.

You can check out our Obama scan here which has comments relating to the briefing.

Press Briefing

Obama spoke on three main topics during his press conference, which included a rescue package for the middle class, help for small businesses and a stimulus package for the overall economy:

First -

Rescue plan for the middle class, help provide jobs and relief to people who are losing money

Further extension of employment insurance benefits

Fiscal stimulus plan, to jumpstart economic growth

Second -

Addressing issues with local businesses, state and municipal governments and tax increases

the economic crisis 'requires global response'

The auto industry "The auto industry is the backbone of the american economy."

His team will be working on policy options to help the auto industry adjust, possibly by making 'green' cars.

Third -

Revue implementation of administrations financial direction and plans, not unduly rewarding management of financial firms

Treasury work closely with government agencies to help families avoid foreclosure and stay in their homes

Making set of priorities that will strengthen middle class and move economy forward in the long term.

Obama spoke about how he was meeting with the current and past presidents, trying to mend fences and get everyone on board to face the various crises affecting America:

"It is not going to be quick, it is not going to be easy to dig ourselves out of the hole we're in. America is a strong and reisilient country. If we can put aside partisan politics and focus on the issues at hand.

We have a current financial crisis that is spilling out into the rest of the economy.

The one thing I can say with certainty is that we will need to see a stimulus package passed."

After being asked by a reporter about the letter of congratulations sent from Iranian President Mahmoud Ahmadinejad, Obama spoke about being careful with communicating with Iran:

"(Iran's) use of nuclear weapons is unacceptable. Iran's support of terrorist organizations is something that I think has to cease. We will be reviewing the letter and responding appropriately. Obviously how we approach and deal with a country like Iran is not something that we should simply do in a 'knee-jerk' fashion, I think we need to think it through.

I want to make sure we're sending the right message to the world, that I'm not the president.

I am not the president, and I won't be until January 20th.

Meanwhile, Obama said he would not make any announcements on Friday about members of his new administration, an aide said.

“There will be no personnel announcements today,” his aide Stephanie Cutter told reporters.

Obama also recently launched his transition websites, which will track his transition to president on January 20th, 2009.

There is a huge amount of attention on Obama's press briefing, partially because it will hint at his first moves when he assumes power and the fact that it's his first conference:

Obama’s press conference — which will take place on Friday, November 7, 2008 at 2:30 P.M. ET, is likely to be a media zoo, both because it will offer clues to Obama’s first moves on the economy and because it’s his first press conference as President-Elect.

Before working on the immense task of taking on the US presidency, Obama attended his daughter's parent-teacher conference:

It's going to be another busy day in Chicago for President-elect Barack Obama, as he makes his way from a parent-teacher conference at his daughter's school to a meeting with running mate Joe Biden, new chief of staff Rahm Emanuel and his transition economic advisory board, and then his first news conference since winning election.

Current president George W. Bush announced he would be attempting as smooth a transition as possible, and would be meeting with president-elect Obama next week:

US President George W Bush has said he and Barack Obama will discuss issues such as the global financial crisis and the war in Iraq "early next week".

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Rachel Nixon

at 12:11 on November 7th, 2008

Obama said the choice of a puppy that he promised for his daughters was a "major issue". He spoke as seriously about the dog as about the economy. He said that two criteria had to be reconciled - that it was hypoallergenic because one of his daughters is allergic, and it has to be a shelter dog - "many of them are mutts like me", he said.

politisite

at 16:46 on November 7th, 2008

It is a shame that he doesn't have any down time between now and January. I do think he should stop short af chatting about world affairs until he is actually sworn in. WE only have one President at a time and George Bush is still in office.

I like that he will get a puppy from the pound. I see no reason why anyone should get a puppy from a breeder when they are so many that need homes. I have two rescue dogs and they have been the best companions I have ever had. Kudos to Obama for doing the Rescue dog thing

András Bártházi

at 12:33 on November 7th, 2008

He was quite tired, but he has humour and that's good. I think he was joking (at least everybody was laughing around) with being so serious about the dogs, even if I see it's important as a family man.

Rachel Nixon

at 13:38 on November 7th, 2008

Yes - he did seem quite tired. I felt his delivery was quite procedural and "down to business" - a good thing in a way since there are important economic issues to be tackled - though it seemed to lack the spark of his election night address.

politisite

at 16:41 on November 7th, 2008

Sure, Lets borrow money, so we can go on another shopping spree. What an example

gerrypopplestone

at 20:00 on November 7th, 2008

Sensibly he did not give much away about what he intends to do.

Joe2012 (not verified)

at 09:24 on November 24th, 2008

What I don't understand is that why government has to step in and pump so much money into the economy. If you make bad decisions, it will eventually fail. In other word, what goes around comes around. To fixing the result of someone's bad decision is to hide the lies. That's what is exactly going on here.

However, I do know one thing. No politicians are any better than the others whether they are green or yellow or black or white. They will always work and make decisions on behalf of the government's best interest. WHY IS THE US GOVERNMENT HELPING THE PRIVATE SECTORS? The answer is simple. To make money or to take advantage of the worst US economic meltdown. After all is said and done, the US government will own major part of the private sectors by simply giving away loans to huge corporations.

I really think that the media should stop telling lies to the American People. Even if the United States goes into deep recession, American society is not going to fall apart giving rise to chaos and crimes. NO NO NO and NO. Remember, we all have to eat and need shelter. So, there will always be jobs but in limited numbers. Main stream media is putting false information into people's head and causing even more problem.

Another reason US government giving huge amount of money besides taking advantage is that they want to protect the United States of America's worldly image or view as the leader of capitalism.

I support Obama, but he is no different. He will give loans away just like Bush did.