Obama’s Plan of Attack

in his first press conference since tuesday’s historic election, president-elect barack obama promised swift action to address the economic emergency and to ameliorate the growing anxiety within the mid class but offered few specifics of what he would do.flanked by his rig of economic advisers, obama pledged to take “all high-priority steps to ease the acclaim crisis,” as well as to extend jobless benefits for unemployed americans and to press for a fiscal stimulus package to rekindle economic growth.he said he hoped that congress would pass some stimulus plan up front president bush leaves office on january 20, but added that he would make it his apex priority as president if that didn’t happen. his stimulus plan would include tax cuts, infrastructure spending, and help for submit and specific governments in balancing their budgets and avoiding layoffs.in any case, he cautioned patience. “it’s not going to be quick and it’s not going to be foolproof to dig ourselves out of the hole we are in,” he said, calling the current situation the “greatest economic challenge of a lifetime.” he also took pains to note on discrete occasions that he is not yet president and will defer to bush until his appellation expires.he sidestepped a question about whether he plans to follow through on his oft-repeated offensive pledge to originate utter taxes on people making more than $250,000 a year. instead, he again spoke of a “net tax cut” designed primarily to advance the middle lineage.”my priority is: how do we grow the economy and how do we devise more jobs?” he said.related linksincentives for the sake of inflationwill obama deep down raise taxes?it’s (really) the thrift, stupid

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