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Liveblogging President-Elect Obama's Press Conference

07 Nov 2008 02:53 pm

Obama:

Until January 20th of next year, that government is the current administration....Immediately after I become president, I'm going to confront this crisis head on....this morning, I met with member of my transition economy advisory board...they will help to guide the work of my transition team, working with Rahm Emanuel, my chief of staff, in developing a strong set of policies to respond to this crisis.....first...we need a rescue plan for the middle class...invest in effort to create jobs....extension of unemployment insurance benefits...a fiscal stimulus plan that will jumpstart economic growth is long overdue.... we have to address the spreading impact of the financial crisis on the other sectors of the economy...small businesses and state and municipal governments....[Re: the auto industry:] I would like to see the administration do everything it can to [expedite] the retooling assistance [that's already been provided]

...

We we will review this administration's... implementation of the [bailout/rescue].....

...

Some of the choices we will make are going to be difficult... but American is a strong and resilient country...and I know we will succeed, if we put aside partisanship and politics and work together as one nation.

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