Pak-US friendship robust: Obama

Published: November 08, 2008

"I'm confident a new president can have an enormous impact," he added.
The president-elect spoke after he and Vice-President-elect Joe Biden met privately with economic experts to discuss ways to stabilise the troubled economy.
More evidence of a recession came Friday when the government reported that the unemployment rate had jumped from 6.1 percent in September to 6.5 per cent in October. Despite dour third-quarter reports from Ford and General Motors, stocks rose some after two days of heavy losses.
AFP adds: The President-elect stressed during the 20-minute Press conference that he has not yet taken office and won't until January 20, 2009.
"I have to reiterate once again, we only have one president at a time," he said. "I want to be very careful that we are sending the right signals to the world as a whole."
On US economy, Obama said a new emergency economic stimulus package for the troubled US economy was a top priority for his incoming administration. He vowed that "immediately after I become President, I am going to confront the economic crisis head-on."
"One thing I can say with certainty is that we're going to need to see a stimulus package passed before or after inauguration," he stated.
Asked what he would do if the current Congress does not pass a stimulus before his inauguration on January 20, Obama said: "I want to see a stimulus package sooner rather than later. If it does not get done in a lame-duck session (of Congress), it will be the first thing I get done as President of the United States."
"Tens of millions of families are struggling to figure out how to pay the bills and stay in their homes," he told reporters in Chicago.
"Their stories are an urgent reminder that we are facing the greatest economic challenge of our lifetime. We will have to act swiftly to resolve it."
"It is not going to be easy for us to dig ourselves out of the hole we are in. But, America is a strong and resilient country. I know we will succeed if we put aside partisanship and politics and work together as one nation."
He said it was a high priority to work on policies to help the stricken US auto industry adjust to the economic crisis.
"I have made it a high priority for the transition team to work on additional policy options to help the auto industry adjust," Obama told reporters, speaking in the wake of fresh bad news from US automakers.
"The news coming out of the auto industry this week reminds us of the hardship it faces," he said.
The US President-elect said he would not be rushed into naming his White House team, saying he wanted to move with "deliberate haste" to make sure he made the right choices.
"When we have an announcement about cabinet appointments, we will make them. There is no doubt that people want to know who is going to make up our team," Obama said.
"I want to move with all deliberate haste, but I want to emphasize deliberate as well as haste.
"I am proud of the choice I made of vice-president partly, because we did it right. I am proud of the choice of chief of staff, because we thought it through," Obama told reporters referring to vice-president elect Joseph Biden, and new chief of staff Rahm Emanuel.
"I think that it is very important in the key positions in the economic team and the national security team to get it right, and not to be so rushed that you end up making mistakes.
"I am confident that we are going to have an outstanding team, and we will be rolling it out in subsequent weeks."
Earlier, Obama convened his high power panel of 17 economic advisors and was set to hold a press conference on another day of dismal news for the US economy.

This news was published in print paper. To access the complete paper of this day. click here
Continue Reading
 < 1 2
Bramerz Bramerz Bramerz Bramerz

© Copyright 2004 - Nawaiwaqt Group of News Papers - All rights reserved.

Daily Weekly Both