Obama strategist outlines econ. plan

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Source: CCTV.com | 11-24-2008 13:58

Insiders says they're pleased with Wall Street's positive reaction to news that Timothy Geithner could be Barack Obama's pick as Treasury Secretary.

Senior aide David Axelrod made the rounds of US morning talk shows after news that Obama planned to roll out a sweeping recovery package aimed at creating or saving 2.5 million jobs over the next two years. (CCTV.com)

The appointment of the current head of New York's Federal Reserve Bank sets the stage for an overall package to help stabilize the economy.

Senior aide David Axelrod made the rounds of US morning talk shows after news that Obama planned to roll out a sweeping recovery package aimed at creating or saving 2.5 million jobs over the next two years.

Axelrod also warned automakers who are seeking billions of dollars in government help to stave off collapse. He said they must devise a plan to retool and restructure their industry or taxpayers won't be able to help them."

David Axelrod, Senior Advisor to Barack Obama. said, "The President-elect spoke yesterday about his goal of creating or saving 2.5 million jobs in the next couple of years and the outline of a plan that will get us there and we need the best people we can find, the best minds in our country to help us accomplish that plan. What we can't give is a blank check for an industry that isn't prepared to reform itself, to rationalize itself and to retool for the markets of today and tomorrow. I hope they will come back to Washington in early December on commercial flights with a plan to do that, or the beginnings of a plan to do that because the American taxpayers aren't going to hand them a blank check to continue doing what they are doing."

Editor:Zhang Pengfei