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

(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.

[Images (3)]

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President-elect Barack Obama during a news conference in Chicago this week. (AP Photo/Charles Dharapak)

President-elect Barack Obama speaks at a news conference in Chicago this week. (AP Photo/Charles Dharapak)

President-elect Barack Obama exits his vehicle before boarding a plane at the Philadelphia International Airport earlier this week. (AP Photo/Pablo Martinez Monsivais)

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The Obama team has to step up. In the minds of the people, this is the Obama administration. I don't think we can wait until January 20. - Sen. Christopher Dodd, chairman of the Senate Banking Committee

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COMMENTS

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Showing 2 of 2 comments

Zebraone

Dec 5, 2008 7:59 PM CST

Looks lk the Big Blue Eagle is being resurected! Next will be the WPA! Remember the saying, "We Poke Along!" It worked for FDR, tho I don't think it's going to work for Obater

Shannonals

Dec 5, 2008 12:43 AM CST

The President-elect hasn't even taken office yet, so why are the Democrats complaining? Aren't they aware of how the system works. They must wait until at least January before starting to complain. If anything they should be making notice of the current President inaction

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Bush administration • Barack Obama • Barney Frank • bailout • Obama administration • financial crisis • transition team • President Obama

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