November 7th, 2008
03:09 PM ET
6 years ago

Obama: Economy to be top priority

President-elect Obama met with his economic advisors Friday before holding his first press conference since the general election.
President-elect Obama met with his economic advisors Friday before holding his first press conference since the general election.

CHICAGO, Illinois (CNN) - In his first public remarks since he delivered his victory speech Tuesday night, President-elect Barack Obama vowed Friday that restoring the nation's economic equilibrium will be a major priority of his administration.

"I do not underestimate the enormity of the task that lies ahead," he told reporters at the Hilton Hotel. "We have taken some major action to date and we will take further action."

Obama said that, if the lame-duck Congress fails to reach an agreement on a stimulus package before he takes office January 20, passing such a package will be his first move.

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soundoff (165 Responses)
  1. Wow

    J.- Michigan- Linda32 – Faith Restored – Laverne – Red, Red WHINE!! – Eff Off – Mark L. – america wins – XChange – Chris – Charles Atlanta – Jessie Jay – stephanie
    _____________________________________
    "To be conscious that you are ignorant is a great step to knowledge. "

    – Benjamin Disraeli

    November 7, 2008 07:34 pm at 7:34 pm |
  2. Independent white female patriotic voter

    All I can say is "the man is amazing". Never seen anything lie him in my lifetime! I know that our country will be better off in four years!

    November 7, 2008 07:37 pm at 7:37 pm |
  3. Uncle Fester

    Rob November 7th, 2008 3:45 pm ET

    Hey! The stock market is up today. I want you right-wingers to credit Obama for that the way you laid blame on him for the past couple of days of the market being down.

    Well?….

    Crickets.............

    November 7, 2008 07:42 pm at 7:42 pm |
  4. Jaye

    Senator Obama will be a great president.
    I urge the media to stand behind him and not nit-pick his every word.
    Our country is in peril and we need to help him all we can.

    November 7, 2008 07:43 pm at 7:43 pm |
  5. Richard

    Obama is going to give away our constitutional rights with bills like this one!!!!!!!!

    Obama's bill S2433 would require the U.S. to initially direct .7 percent of our GNP into the United Nations coffers for distribution as they see fit, for "food" to third world nations. Under earlier agreements this would evolve into a national tax on the U.S. with the UN attempting to levy this on all first world nations.

    The U.N. would have the power to increase this rate of taxation.

    The U.S. would be required to surrender some of its sovereignty over foreign aid by putting it under UN control. The bill would force the U.S. to sign onto the U.N.'s Millennium Declaration, which would commit us not only to "banning small arms and light weapons" but also to adhere to the International Criminal Court Treaty and the Kyoto Protocol.

    November 7, 2008 07:43 pm at 7:43 pm |
  6. jim

    Jeff from Atlanta ...

    ==================================
    I just wish people would get this straight, CLINTON CAUSED THE BANKING FIASCO. It was a result of his administration forcing loans to those who could not otherwise qualify.
    ==================================

    Well Jeff, I would say Bush proved your opinion is worthless by saying at the 2004 GOP National Convention .....

    "Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.

    Thanks to our policies, home ownership in America is at an all- time high.

    Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."" ....

    Bush takes the credit himself in 2004. Are you calling him a liar? For once, I think he told the truth!

    November 7, 2008 07:47 pm at 7:47 pm |
  7. Becky, Midwest

    Pride before the fall, Stephanie, pride before the fall.

    There is nothing to be proud of here. Obama will not unite the country. He's so under-experienced and under-qualified it's a joke! He won't change anything because he has to surround himself with career politicians. He's not my president, just like Bush wasn't.

    November 7, 2008 07:48 pm at 7:48 pm |
  8. Peter (CA)

    Wow....
    Any reason why you chose that quote or do you just want to be contentious?

    Hopefully you will also look in the mirror.

    November 7, 2008 07:54 pm at 7:54 pm |
  9. Hilary

    To the Obama haters:

    Get over it. Your guy lost. Move on or get out. Isn't that what you've been telling us Democrats for the past 8 years?

    The man hasn't even been inaugurated yet and already you're blaming him for everything that's going on today. I guess we shoudn't be surprised by that though. You're going to look awfully foolish in 2012 when you're sitting there scratching your heads wondering why we haven't been attacked and you still have your guns.

    November 7, 2008 07:56 pm at 7:56 pm |
  10. unco

    De-regulate the housing finance industry to make sure this sub-prime lending never again creates such a mess as it has. Have the guts to de-regulate unlike Bush. He didn't fight Clinton's regulations (yes more regulation was the problem, not a lack of it nor a lack of oversight, but had there been oversight, perhaps the government may have realized sooner what stupidity was going on) which forced lending companies to lower their standards and lend to people with bad or no credit, all in the name of increasing home ownership, the epitome of the American Dream as politicians like to say. It looks good when a President can say home ownership is at an all time high. Stop the games and the politics and do what's best. Stop trying to regulate the free market. If businesses could act in the free market and according to their self-interest, they never would have given out loans to those with bad credit. Size up Obama and do what others couldn't.

    November 7, 2008 07:59 pm at 7:59 pm |
  11. frances

    I would like to say that I have trust in Obama but I do not. He does not
    have the knowledge or experience to be the President. We're in for a
    rough ride.

    November 7, 2008 08:02 pm at 8:02 pm |
  12. Peter (CA)

    The level of right wing hate around here is amazing.
    The man is not even in office yet. Look, he is trying to do something to head off the crisis, that's more than can be said about the current President.

    And about Bush.....you cannot compare 2000 with 2008. Obama won a clear victory; frankly, there is still some doubt if Bush won at all. Think maybe there were some hard feelings.
    But, even given that, don't forget his ratings were in the 80's after 9/11. Everyone was willing to follow the guy. Then for the next seven years, he slowly but surely tossed it all away.
    He abandoned the country when it needed him and has shown himself to be the poor choice many of us knew he was going to be. Why not give Obama until......oh, how about his inauguration before spewing?

    November 7, 2008 08:07 pm at 8:07 pm |
  13. andrea proud army wife

    All of you who post your nasty comments about Obama not being your president do not deserve to live in this country. It makes me sick. He is your president wether you like it or not. He was elected and that's the way it is.

    November 7, 2008 08:14 pm at 8:14 pm |
  14. David

    To Rob, Well said.

    November 7, 2008 08:18 pm at 8:18 pm |
  15. Lora from NC

    I agree that the economony is bad and that something needs to be done now but people have got to wake up. President Elect Obama has a lot of great well thought out ideas but people need to be realistic. He does not even take the oath of office until Jan 2009..... With that said, I doubt very seriously if his tax cuts will not take hold until late 2009. It still has to go thru the red tape called CONGRESS. The earliest people will see a tax break/increase will be when they file income taxes 4th quarter/ 2010. He is not going to take office on the 20th and solve the worlds problems on the 21st..... Wake UP People~

    November 7, 2008 08:21 pm at 8:21 pm |
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