President-elect Barack Obama on Saturday lauded President Bush for convening a meeting of the world’s largest economies to address the global financial crisis but also urged more action at home.
The Illinois senator, in a radio address that for the first time was also videotaped and posted online, said a “coordinated global response” is needed to address the crisis. In addition to world leaders discussing the issue this weekend, Obama argued that Congress must do more to help struggling Americans.
“Millions of our fellow citizens lie awake each night wondering how they’re going to pay their bills, stay in their homes, and save for retirement,” he stated.
However, Obama added that Congress can take steps to address the crisis and “must act right now.”
“Next week, Congress will meet to address the spreading impact of the economic crisis. I urge them to pass at least a down-payment on a rescue plan that will create jobs, relieve the squeeze on families, and help get the economy growing again,” the president-elect said. “In particular, we cannot afford to delay providing help for the more than one million Americans who will have exhausted their unemployment insurance by the end of this year.”
Obama promised that, if Congress does not pass a second stimulus measure during its upcoming lame duck session, he would make it his “first order of business” upon taking office.
The president-elect also sought offer Americans encouragement in tough economic times. Not only did Obama express confidence that the country would overcome the crisis, he also said that the current crisis could lead to opportunities “to create new jobs, strengthen our middle class, and keep our economy competitive in the 21st century.”
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