Economy is topic of Obama's first press conference

11/07/08 Arielle Stevenson
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Today the U.S. Department of Labor put the nation’s unemployment rate at a 14-year high: as of October employers had cut 240,000 jobs.

In President-elect Barack Obama’s first press conference since the election, he addressed job loss and the struggling economy as his top priority as he transitions into the White House. Obama spoke about relieving strain on middle class Americans and extending unemployment benefits, as crucial first steps toward fixing the economy.

A stimulus package is on the agenda for the newly elected president, and though he hopes to accomplish a package before entering the White House, if necessary he will make it so when in office.

Carmakers Ford and GM are expected to announce billions of dollars in third quarter losses and yet another round of job cuts. Obama says that this industry is important to fixing the American economy.

President Bush and First Lady Laura Bush invited the Obamas to the White House. Obama says he and the president plan to sit down and talk, but he said that focusing on he and the president’s bipartisan differences will not solve any of the problems facing America.

Obama closed by saying that the work required to fix America's struggling economy will only be accomplished by putting politics aside. Obama also reiterated several times throughout the conference that America has only one president at a time, and that President Bush and the current administration are still in power until Jan. 20.

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