Obama urges swift response on economic recovery
Obama urges Congress to act "swiftly and boldly" on recovery plan
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Saturday, 03, Jan 2009 04:42
US congressional leaders must act "swiftly and boldly" to draw up a plan for economic recovery, according to president-elect Barack Obama.
While Republican members of the House of Representatives have called for a delay to passing measures to combat the economic downturn, Mr Obama claims a solution is needed as soon as possible.
"For too many families, this new year brings new unease and uncertainty as bills pile up, debts continue to mount and parents worry that their children won't have the same opportunities they had," the president-elect said in an address taped on Friday and distributed on radio and on YouTube on Saturday morning.
"However we got here, the problems we face today are not Democratic problems or Republican problems," he explained.
"The dreams of putting a child through college, or staying in your home, or retiring with dignity and security know no boundaries of party or ideology.
"I am optimistic that if we come together to seek solutions that advance not the interests of any party, or the agenda of any one group, but the aspirations of all Americans, then we will meet the challenges of our time just as previous generations have met the challenges of theirs."
Mr Obama's team is eager to have an American Recovery and Reinvestment Plan approved by the House and Senate before he takes office on January 20th.
But Republican economic spokesman Senator Mitch McConnell believes time is needed to draw up a plan so as to ensure "every dollar needs to be spent wisely and not wasted in the rush to get it spent."
The plan is likely to include tax cuts for middle-class individuals and couples, increased infrastructure projects and research towards improving energy efficiency.
"Economists from across the political spectrum agree that if we don't act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment and the American dream slipping further and further out of reach," Mr Obama stressed.