Obama First Press Conference
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This morning we woke up to more sobering news about the state of our economy. The 240,000 jobs lost in October marks the 10th consecutive month that our economy has shed jobs. In total, we’ve lost nearly 1.2 million jobs this year, and more than 10 million Americans are now unemployed. Tens of millions of families are struggling to figure out how to pay the bills and stay in their homes. Their stories are an urgent reminder that we are facing the greatest economic challenge of our lifetime, and we’re going to have to act swiftly to resolve it.
Now, the United States has only one government and one President at a time, and until January 20th of next year, that government is the current Administration. I’ve spoken to President Bush. I appreciate his commitment to ensuring that his economic policy team keeps us fully informed as developments unfold. And I’m also thankful for his invitation to the White House.
Immediately after I become President, I’m going to confront this economic crisis headon by taking all necessary steps to ease the credit crisis, help hardworking families, and restore growth and prosperity. This morning I met with members of my Transition Economic Advisory Board, who are standing behind me, alongside my Vice Presidentelect, Joe Biden. 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.
We discussed in the earlier meeting several of the most immediate challenges facing our economy and key priorities on which to focus on in the days and weeks ahead