US president-elect Barack Obama wants changes to the way some of the nation's biggest economic problems are handled, from helping the troubled car industry to aiding homeowners fighting repossession.
While he has said there is only one administration in power right now, Mr Obama - in a pre-recorded interview with CBS's 60 Minutes show - admitted that there were some changes he would like to see.
"For the auto industry to completely collapse would be a disaster in this kind of environment," Mr Obama said. "So it is my belief that we need to provide assistance to the auto industry. But I think that it can't be a blank cheque."
Mr Obama said he hoped the White House and Congress would develop an assistance plan with input from all players in the industry -- from management to unions and lenders -- to develop "a sustainable US auto industry".
He also wants to see more of a focus on the needs of homeowners in the bail-out plan.
"We have not focused on foreclosures and what is happening to homeowners as much as I would like," Mr Obama said. "We've got to set up a negotiation between banks and borrowers so that people can stay in their homes. That is going to have an impact on the economy as a whole."
Mr Obama praised the work of Treasury secretary Henry Paulson, but said he would be making some suggestions on how the bail-out plan could be adjusted.
"Hank Paulson has worked tirelessly under some very difficult circumstances. I think Hank would be the first one to acknowledge that probably not everything that's been done has worked the way he had hoped it would work," Mr Obama said.
"You know what we've done is we've assigned somebody on my transition team who interacts with him on a daily basis. And, you know, we are getting the information that's required and we're making suggestions in some circumstances about how we think they might approach some of these problems."
When asked "Is the Bush administration listening?", he replied: "We'll find out."
While he has said there is only one administration in power right now, Mr Obama - in a pre-recorded interview with CBS's 60 Minutes show - admitted that there were some changes he would like to see.
"For the auto industry to completely collapse would be a disaster in this kind of environment," Mr Obama said. "So it is my belief that we need to provide assistance to the auto industry. But I think that it can't be a blank cheque."
Mr Obama said he hoped the White House and Congress would develop an assistance plan with input from all players in the industry -- from management to unions and lenders -- to develop "a sustainable US auto industry".
He also wants to see more of a focus on the needs of homeowners in the bail-out plan.
"We have not focused on foreclosures and what is happening to homeowners as much as I would like," Mr Obama said. "We've got to set up a negotiation between banks and borrowers so that people can stay in their homes. That is going to have an impact on the economy as a whole."
Mr Obama praised the work of Treasury secretary Henry Paulson, but said he would be making some suggestions on how the bail-out plan could be adjusted.
"Hank Paulson has worked tirelessly under some very difficult circumstances. I think Hank would be the first one to acknowledge that probably not everything that's been done has worked the way he had hoped it would work," Mr Obama said.
"You know what we've done is we've assigned somebody on my transition team who interacts with him on a daily basis. And, you know, we are getting the information that's required and we're making suggestions in some circumstances about how we think they might approach some of these problems."
When asked "Is the Bush administration listening?", he replied: "We'll find out."
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1 comment:
ican help the labor situation for about 50 000 people real quick but know body wants to help me. from the 50,000 that i can get back to work will put another 100,000 back to work and help outhers like a domino reaction in labor and housing on forword .in the states that really need the help and go on please mr. abama call me,330 563 4226. you can do it
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