Obama pushes second stimulus plan

Published: Nov. 7, 2008 at 3:45 PM
President-elect Barack Obama holds a news conference in Chicago

CHICAGO, Nov. 7 (UPI) -- A stimulus package to spur U.S economic growth should be passed sooner not later, President-elect Barack Obama said Friday.

"A fiscal stimulus plan that will jump-start economic growth is long overdue," Obama said during his first post-election news conference in Chicago. "I've talked about it ... the last few months of the campaign. We should get it done."

He said he wanted to see a package pass "sooner rather than later," and if it doesn't pass during the lame-duck congressional session, "it will be the first thing I get done as president of the United States."

Obama also outlined his priorities for the next few weeks.

First would be a "rescue plan for the middle class" that includes the stimulus and would invest in immediate efforts to create jobs, extend unemployment benefits and provide relief to families.

Second, Obama said the spreading impact of the U.S. financial crisis into other economic sectors must be addressed, keeping in mind that "the financial crisis is increasingly global and requires a global response."

Third, the Bush administration's financial program must be reviewed to ensure it is stabilizing financial markets "while protecting taxpayers, helping homeowners and not unduly rewarding the management of financial firms that are receiving government assistance."

Some choices would be difficult, he said.

"It is not going to be quick, and it is not going to be easy for us to dig ourselves out of the hole that we are in," Obama said

"And I know we will succeed," Obama said, "if we put aside partisanship and politics and work together as one nation."

© 2008 United Press International, Inc. All Rights Reserved.
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