Excerpts from Obama’s first news conference – Los Angeles Times
Posted November 9, 2008
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Obama’s four-part plan for the economy:
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. I’ve talked about it throughout this — the last few months of the campaign. We should get it done.
Second, we have to address the spreading impact of the financial crisis on the other sectors of our economy: small businesses that are struggling to meet their payrolls and finance their holiday inventories; and state and municipal governments facing devastating budget cuts and tax increases.
We must also remember that the financial crisis is increasingly global and requires a global response.
The news coming out of the auto industry this week reminds us of the hardship it faces, hardship that goes far beyond individual auto companies to the countless suppliers, small businesses and communities throughout our nation who depend on a vibrant American auto industry.
The auto industry is the backbone of American manufacturing and a critical part of our attempt to reduce our dependence on foreign oil.
I would like to see the administration do everything it 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 of America. . . .
Third, we will review the implementation of this administration’s financial program to ensure that the government’s efforts are achieving their central goal of stabilizing financial markets while protecting taxpayers, helping homeowners, and not unduly rewarding the management of financial firms that are receiving government assistance. . . .
Finally, as we monitor and address these immediate economic challenges, we will be moving forward in laying out a set of policies that will grow our middle class and strengthen our economy in the long term. We cannot afford to wait on moving forward on the key priorities that I identified during the campaign, including clean energy, healthcare, education and tax relief for middle-class families.
On dealing with Iran and answering the congratulatory letter Obama received:
Iran’s development of a nuclear weapon, I believe, is unacceptable. And we have to mount an international effort to prevent that from happening.
Iran’s support of terrorist organizations, I think, is something that has to cease.
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