Bush 'concerned' about car makers
Updated on 05 December 2008
President George Bush says he's "concerned about the viability of the automobile companies" and urges Congress to act.
Speaking outside the White House, Mr Bush further described the gloomy outlook, although he claimed there were "encouraging signs".
He said: "I'm concerned about our workers who lost jobs during the downturn. We're focusing on the root causes of the economic downturn in order to return our economy to health.
"There's still some work to do but there are some encouraging signs."
However he was less upbeat about the car industry:
"I am concerned about the viability of the automobile companies.
"It is important that Congress act next week on this plan," Bush told reporters in a statement about the economy after the government reported the biggest monthly decline in jobs in more than three decades.
The president-elect
Barack Obama said the US economy would get worse before it gets better today as new figures showed the nation suffered its worst month of job losses in 34 years.
The US President-elect said the loss of 533,000 jobs in November was a "dramatic reflection" of the economic crisis. The unemployment rate has now risen to 6.7 per cent.
In his statement, Mr Obama, who takes over from unpopular incumbent President George Bush at noon on January 20, said: "There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better.
"But now is the time to respond with urgent resolve to put people back to work and get our economy moving again."
He added: "At the same time, this painful crisis also provides us with an opportunity to transform our economy to improve the lives of ordinary people by rebuilding roads and modernising schools for our children, investing in clean energy solutions to break our dependence on imported oil and making an early down payment on the long-term reforms that will grow and strengthen our economy for all Americans for years to come."
The president-elect, who was holding private meetings in Chicago today, went on: "Each of those lost jobs represents a personal crisis for a family somewhere in America.
"Our economy has already lost nearly two million jobs during this recession, which is why we need an economic recovery plan that will save or create at least 2.5 million more jobs over two years while we act decisively to maintain the flows of credit on which so many American families and American businesses depend."
