Breaking News Update: President Obama's Press Conference, Confirms Goolsbee, Mid-Terms

Speaking right now in the East Room of the White House is President Obama talking with the Press this morning about the economy and the elections in November. President Obama began with comments on the economy and confirmation that Austin Goolsbee will be the new head of the Council of Economic Advisers, replacing Christina Romer. The President pointed to past policies as a big reason for the current economic hardship, and notes how progress towards recovery has been "painfully slow". President Obama highlighted his recent proposals for improving the economy, including tax incentives for investment and the small business jobs bill. The President also mentioned tomorrow's 9th anniversary of the 9-11 terrorist attacks, urging Americans to unite. He then opened to questioning. First question from the Press was dealt with the November elections and the economy. President Obama responded that if Democrats have good economic policies then they should prevail, however he noted the party's biggest challenge is that the Democratic party has been in power for 2 years and the economy is still not back. As expected the President also held the GOP responsible for some of the mess, saying that the party is "holding middle-class tax relief hostage" in order to gain tax relief for the wealthy. The President is continuing his talks with the press and we will update you as we move along.



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President Elect Obama: Saturday Radio Address 11.08.08

Transcript: On Tuesday, Americans stood in lines that stretched around schools and churches in numbers this nation has never seen. It didnt matter who they were or where they came from; what they looked like or what party they belonged to they came out and cast their ballot because they believed that in this country, our destiny is not written for us, but by us. We should all take pride in the fact that we once again displayed for the world the power of our democracy, and reaffirmed the great American ideal that this is a nation where anything is possible. This week, I spoke with President Bush, who graciously offered his full support and assistance in this period of transition. Michelle and I look forward to meeting with him and the First Lady on Monday to begin that process. This speaks to a fundamental recognition that here in America we can compete vigorously in elections and challenge each others ideas, yet come together in service of a common purpose once the voting is done. And that is particularly important at a moment when we face the most serious challenges of our lifetime. Yesterday, we woke to more sobering news about the state of our economy. The 240000 jobs lost in October marks the 10th consecutive month that our economy has shed jobs. In total, weve 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 ...



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