Dems: Obama Must Take Charge of Economy Now

There's no time to waste, pols warn
By Rob Quinn,  Newser Staff
Posted Dec 5, 2008 1:54 AM CST
President-elect Barack Obama during a news conference in Chicago this week.   (AP Photo/Charles Dharapak)
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(Newser) – Top Democrats are becoming increasingly frustrated with Barack Obama's reluctance to take charge of the economic crises,  AP reports. The president-elect has consistently said it would be premature for him to dictate solutions to the auto industry's woes, and steer $700 billion in bailout funds, but critics in his party say he must step up.

"At a time of great crisis with mortgage foreclosures and autos, he says we only have one president at a time," said Barney Frank, chairman of the House Financial Services Committee. "I'm afraid that overstates the number of presidents we have." Obama has offered to get involved in bipartisan talks about how to use the bailout funds, stressed a spokesman.