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Obama Pledges Action on Economy

AOL
posted: 51 DAYS 21 HOURS AGO
comments: 7308
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(Nov. 16) - In his first interview since winning the presidential election, Barack Obama told '60 Minutes' he wants to act quickly once he takes office to repair the ailing economy. Among his priorities: helping to keep homeowners out of foreclosure, and reaching an agreement on a relief package that would save the auto industry from collapse.
"The challenges we're confronting are enormous," Obama told '60 Minutes' correspondent Steve Kroft.
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One of those challenges -- a proposal to bail out the auto industry -- has been all over the headlines in recent days. Obama favors a bailout. Here's what he said about it in the interview:
"For the auto industry to completely collapse would be a disaster in this kind of environment, not just for individual families but the repercussions across the economy would be dire. So it's my belief that we need to provide assistance to the auto industry. But I think that it can't be a blank check."
He said he favored an assistance package that would require the industry to remake itself so that it's in a "sustainable" position for the future. "So that we are creating a bridge loan to somewhere as opposed to a bridge loan to nowhere," he said.
Got aquestion? Ask on Yedda!
Obama also talked about offering more assistance to homeowners facing foreclosure.
"We've gotta set up a negotiation between banks and borrowers so that people can stay in their homes," Obama told Kroft. "... One thing I'm determined is that if we don't have a clear focused program for homeowners by the time I take office, we will after I take office."
Kroft touched on a wide range of topics, including Obama's national security priorities and the inspiration that Obama draws from former President Abraham Lincoln. He also asked the Obamas -- future first lady Michelle Obama was present for part of the interview -- how they reacted the moment they realized they were bound for the White House. A bit of news on the home front: The Obamas' daughters will have to wait until they get settled into the White House before they get the puppy they were promised if their father won the election.
"We're on call-mode on the dog front. Because the deal with the dog was that we would get the dog after we got settled," Michelle Obama said. "Because as responsible owners we -- I don't think it would be good to get a dog in the midst of transition."
The public is less patient. "They're ready for us to get the dog now," she said.
There were several developments over the weekend on the Obamas' impending move to the nation's capital. The president-elect formally resigned from the Senate on Sunday. Reuters summarizes his resignation letter and tracks some additions to his White House team. And the Associated Press writes about how Obama is trying to savor that last days of his pre-White House life.
Inauguration Day is still a little more than two months away, but the event may draw record crowds to Washington. The Associated Press looks at how difficult it is to land tickets for the big day. How strong is your command of inauguration trivia? Take our quiz below.

Inauguration Quiz

Officials say more than 1 million people may show up for Barack Obama's inauguration. Who attracted the biggest inaugural crowd to date?

  • Bill Clinton in 1993
  • Ronald Reagan in 1981
  • Lyndon Johnson in 1965

Which inauguration is the coldest on record?

  • Ronald Reagan's in 1985
  • John F. Kennedy's in 1961
  • Ulysses S. Grant's in 1873

Inauguration Day is traditionally set on Jan. 20. Who was the first president have a Jan. 20 swearing-in?

  • Abraham Lincoln
  • Franklin Roosevelt
  • John F. Kennedy

In what month was the nation's first inauguration held?

  • February
  • April
  • July

Who gave the longest inaugural address?

  • Benjamin Harrison
  • Bill Clinton
  • William Henry Harrison
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2008-11-16 19:11:38
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Samram1941

05:04 PMNov 24 2008

Poem recited by Robert Frost at the 1961 Inauguration of President John F. Kennedy: ~The land was our's before we were the land's. She was our land more than a hundred years before we were her people. She was ours in Massachusetts, in Virginia -- but we were England's. Still colonials. Possessing what we still were unpossessed by. Possessed by what we now are no more possessed. Something we were withholding from our land of living; and forthwith found salvation in surrender. Such as we were, we gave ourselves outright (The deed of gift was many deeds of war) to the land vaguely; realizing westward, but still unstoried, artless, unenhanced -- such as she was, such as she would become.

AVG RATING:
(2)

Geomania6

08:57 PMNov 24 2008

hey windysky what changes can the president elect make ? I am curious for your reply

AVG RATING:
(1)

Samram1941

03:52 PMNov 23 2008

In unity with one another we are creating a world of peace.~WORLD PEACE~Dear God, I seek Your peace within my heart wheneverI feel uneasy about events in the world.Mindful of Your presence,I relax and and release all concern.I know that this world and all who are in it are Your creations.Within me, within all people, Your peaceful presence is the assurance of divine order and wisdomthat can transcend fears and insecuritiesthat generate tension.I trust that Your spirit is workingthrough the leaders and citizens of the world,establishing and maintaining peace and goodwill.Thank You, God, for the understanding that any seeming discordis temporary and that Your presence is the permanent,creative power of this world.In unity with You and with all people,I am creating a world of peace through my thoughts,words, and actions."Blessed are those who trust in the Lord,whose trust is the Lord."~Jeremiah 17:7~

AVG RATING:
(2)

WindySky5

03:23 PMNov 23 2008

Well Obamalites...what about that "change" he promised. Seems more like BAU (business as usual) to me. It's not too late to wake up and realize that the dems and reubs are as one.

AVG RATING:
(5)

DonnaK1961

10:30 AMNov 23 2008

Did you know that GM is investing 1 billion of the bailout money they believe they will receive soon in Brazil? I thought that money would be used to help keep Americans in jobs, no Brazilians? Google: GM Brazil INvest. Also, It has gotten so bad, I read of families in Oklahoma, people who hunt (deer, wild hog, etc) for their food out of neccessity right now. They are buying bare basic at the gorcery stores. They have stopped paying all but their home and utilities and struggling to pay that. Something has got to be done to help the people, not the top 10% of the richest. If things dont break open soon, I could see the need for food drops from the sky, like it third world countries. You cannt get governement assitance when you own a home. Those that are hanging on by the skin of their teeth, are suffering more than the lower income who qualify for the free governement food, housing, etc. Soon we may see people camping under bridges in tents... if people dont have enough mo...

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(3)

granbybootman

09:10 AMNov 23 2008

WITCHESSOLACE...............You say Bush had nothing to do with the lower gas prices???? Well, the Libs sure as hell BLAMED him when they went UP!!!

AVG RATING:
(5)

bubblychristie

09:11 PMNov 23 2008

It is amazing how many people sit around and judge others as in these comments... This world is full of greed and hate and the more we sit around and watch the news we are just helping someone else make a living. Oh, and by the way those people make a killing as well, do you hear anyone talking about their high salaries??? The world feeds off of reeling us in and believing what others tell us... Trust in yourself, we are in tough times but we can't let this government control us any more!!!

AVG RATING:
(3)

ZIGGYS233

08:55 PMNov 23 2008

well you people voted him in, so now you got him.

AVG RATING:
(10)

Djune2001

08:18 PMNov 23 2008

DECEMBER THE 1ST IS DRAWING NEAR

AVG RATING:
(3)

Okitori

06:59 PMNov 22 2008

WELL---GUESS THIS CHANGE OBAMA WAS TALKING ABOUT WAS TO CHANGE BACK TO ALL THE PEOPLE FROM THE CLINTON YEARS--HA HA! WE SHOULD HAVE JUST ELECTED HILLARY.FOUND IT REAL INTERESTING IN HIS SPEECH THAT HE ADMITTED HE HAD TO HAVE HIS PEOPLE TELL HIM WHAT HE SHOULD DO!!!! LIKE EVERYONE SAID HE IS AN EMPTY SUIT. COMING FROM BEING A COMMUNITY ORGANIZER WITH VERY LITTLE EXPERIENCE EVEN IN THAT POSITION, HE HAS GAINED A LITTLE KNOWLEDGE IN THE PAST TWO YEARS--BUT NOW HE HAS TO DEPEND ON HILLARY. DID EVERYONE ELSE KNOW THAT THE CHANGE HE MEANT WAS CHANGING BACK TO THE CLINTON ADMINISTRATION. OH WELL, GUESS THEY WILL BE ABLE TO TELL HIM WHAT TO DO. MICHELLE ALWAYS SAID THAT IF HE DIDN'T KNOW SOMETHING HE WOULD ALWAYS ASK SOMEONE. SO HERE WE GO. DO YOU THINK THAT WHAT HE MEANT BY CHANGE WAS WHAT WE WOULD HAVE THAT CHANGE LEFT IN OUR POCKET?

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(9)

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