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Obama to tackle economy 'head-on' Obama to tackle economy 'head-on'
(10 minutes later)
US President-elect Barack Obama has pledged to confront the economic crisis "head-on" immediately after taking office in January.US President-elect Barack Obama has pledged to confront the economic crisis "head-on" immediately after taking office in January.
In his first official appearance since his election win, he said a stimulus package to boost the economy was long overdue and would be his top priority.In his first official appearance since his election win, he said a stimulus package to boost the economy was long overdue and would be his top priority.
He pledged to create jobs and help middle class families.He pledged to create jobs and help middle class families.
"It's not going to be quick and it's not going to be easy to dig ourselves out of the hole we are in," he said."It's not going to be quick and it's not going to be easy to dig ourselves out of the hole we are in," he said.
"But America is a strong and resilient country and I know that we will succeed if we put aside partisanship and politics to work together.""But America is a strong and resilient country and I know that we will succeed if we put aside partisanship and politics to work together."
The news conference at a Chicago hotel was his first since he convincingly beat Republican John McCain in Tuesday's election to become America's first black president.The news conference at a Chicago hotel was his first since he convincingly beat Republican John McCain in Tuesday's election to become America's first black president.
Mr Obama was joined by Vice President-elect Joe Biden and some of his 17-strong team of economic advisers with whom he had earlier held talks.Mr Obama was joined by Vice President-elect Joe Biden and some of his 17-strong team of economic advisers with whom he had earlier held talks.
WHAT HAPPENS NEXT 9 Dec: Deadline for states to resolve issues such as recounts or challenges15 Dec: Electoral college electors meet in each state to formally cast their votes6 Jan: Joint session of Congress to count electoral college votesBefore 20 Jan: Barack Obama and Joe Biden must resign from the Senate20 Jan: Inauguration day Transition timetableProfile: Rahm EmanuelObama's top economic contendersObama shapes teamWHAT HAPPENS NEXT 9 Dec: Deadline for states to resolve issues such as recounts or challenges15 Dec: Electoral college electors meet in each state to formally cast their votes6 Jan: Joint session of Congress to count electoral college votesBefore 20 Jan: Barack Obama and Joe Biden must resign from the Senate20 Jan: Inauguration day Transition timetableProfile: Rahm EmanuelObama's top economic contendersObama shapes team
He promised to initiate a rescue plan to provide tax relief for those struggling to pay their bills. He said an economic stimulus package needed to be passed before or immediately after his inauguration.He promised to initiate a rescue plan to provide tax relief for those struggling to pay their bills. He said an economic stimulus package needed to be passed before or immediately after his inauguration.
Mr Obama also said he would extend unemployment benefits and help local governments so they did not have to lay off staff.Mr Obama also said he would extend unemployment benefits and help local governments so they did not have to lay off staff.
It was a high priority, he said, to work on policies to help the stricken US car industry adjust to the economic crisis.It was a high priority, he said, to work on policies to help the stricken US car industry adjust to the economic crisis.
Mr Obama was careful not to step on the toes of the outgoing administration of President George W Bush, saying America only has one president at a time.Mr Obama was careful not to step on the toes of the outgoing administration of President George W Bush, saying America only has one president at a time.
He made no new personnel announcements but noted calls for him to pick a treasury secretary quickly.He made no new personnel announcements but noted calls for him to pick a treasury secretary quickly.
He stressed it was important to make the right appointment, saying: "I want to move with all deliberate haste but I want to emphasise deliberate as well as haste."He stressed it was important to make the right appointment, saying: "I want to move with all deliberate haste but I want to emphasise deliberate as well as haste."
Mr Obama made reference to US labour department figures on Friday which revealed the economy had shed 240,000 jobs in October, bringing job losses so far this year to 1.2 million. The US was facing greatest economic crisis in memory, he said.Mr Obama made reference to US labour department figures on Friday which revealed the economy had shed 240,000 jobs in October, bringing job losses so far this year to 1.2 million. The US was facing greatest economic crisis in memory, he said.
Mr Obama was asked about a letter of congratulations on his election victory from Iranian President Mahmoud Ahmadinejad. Mr Obama warned against a "knee-jerk" approach to IranMr Obama was asked about a letter of congratulations on his election victory from Iranian President Mahmoud Ahmadinejad.
It is the first time Iran has offered such wishes to an American president-elect since the 1979 Islamic Revolution.It is the first time Iran has offered such wishes to an American president-elect since the 1979 Islamic Revolution.
Mr Obama said he would review Mr Ahmadinejad's letter and "respond appropriately".Mr Obama said he would review Mr Ahmadinejad's letter and "respond appropriately".
"Iran's development of a nuclear weapon, I believe is unacceptable," the president-elect added. "Iran's support of terrorist organisations, I think is something that has to cease.""Iran's development of a nuclear weapon, I believe is unacceptable," the president-elect added. "Iran's support of terrorist organisations, I think is something that has to cease."
But he also said the US approach to Iran could not be done in a "knee-jerk" fashion.But he also said the US approach to Iran could not be done in a "knee-jerk" fashion.
'A mutt like me''A mutt like me'
There was laughter when Mr Obama said his election night promise to find his daughters a dog for the family's move to the White House was "a major issue".There was laughter when Mr Obama said his election night promise to find his daughters a dog for the family's move to the White House was "a major issue".
He did not mention any specific breed, but said the family's preference was to adopt a dog from a shelter, "a mutt - like me", he added. Mr Obama said the pet would have to be hypoallergenic as his eldest, Malia, had an allergy.He did not mention any specific breed, but said the family's preference was to adopt a dog from a shelter, "a mutt - like me", he added. Mr Obama said the pet would have to be hypoallergenic as his eldest, Malia, had an allergy.
He also added that his wife Michelle was looking at schools in Washington DC for their two children for when the family moved to the capital from Chicago next year.He also added that his wife Michelle was looking at schools in Washington DC for their two children for when the family moved to the capital from Chicago next year.
There was further amusement when he asked one journalist, who had her arm in a sling, what had happened and she explained that she had injured herself while running to his election victory speech.There was further amusement when he asked one journalist, who had her arm in a sling, what had happened and she explained that she had injured herself while running to his election victory speech.
Earlier Mr Obama and Mr Biden met economic advisers including Clinton-era Treasury Secretary Larry Summers and his predecessor, Robert Rubin, as well as Paul Volcker, who was chairman of the Federal Reserve under presidents Jimmy Carter and Ronald Reagan.Earlier Mr Obama and Mr Biden met economic advisers including Clinton-era Treasury Secretary Larry Summers and his predecessor, Robert Rubin, as well as Paul Volcker, who was chairman of the Federal Reserve under presidents Jimmy Carter and Ronald Reagan.
Google chief executive Eric Schmidt and billionaire investor Warren Buffet joined the talks.Google chief executive Eric Schmidt and billionaire investor Warren Buffet joined the talks.
As a treasury secretary, he is said to be considering Mr Summers, Mr Volcker, and Timothy Geithner, president of the New York Federal Reserve Bank.As a treasury secretary, he is said to be considering Mr Summers, Mr Volcker, and Timothy Geithner, president of the New York Federal Reserve Bank.
Mr Obama, who takes office on 20 January, has already appointed as his chief-of-staff combative Illinois congressman Rahm Emanuel, who was once an adviser to President Bill Clinton.Mr Obama, who takes office on 20 January, has already appointed as his chief-of-staff combative Illinois congressman Rahm Emanuel, who was once an adviser to President Bill Clinton.
Obama campaign strategist David Axelrod is expected to become senior White House adviser - a post previously held by Karl Rove under President George W Bush.Obama campaign strategist David Axelrod is expected to become senior White House adviser - a post previously held by Karl Rove under President George W Bush.
Another aide, Robert Gibbs, is expected to become White House press secretary.Another aide, Robert Gibbs, is expected to become White House press secretary.
Mr Obama is due to discuss the economy with President Bush at the White House on Monday. He will not, however, attend the G20 economic summit to be held in Washington next weekend, senior officials have said.Mr Obama is due to discuss the economy with President Bush at the White House on Monday. He will not, however, attend the G20 economic summit to be held in Washington next weekend, senior officials have said.