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WASHINGTON

In his first tidings conference since winning the presidency, Obama uttered he would tackle the nation’s financial pinch “head-on” and called on Congress and the White House to approve a stalled stimulus plan that could include money for new public-works projects and take turn with for the nation’s teetering automakers.

If it does not induce passed soon, he said, “it will be the first thing I obtain done as president of the United States.”

His remarks followed a meeting in Chicago of his top economic advisers and a spate of dire advice on the thriftiness.

The command said 240,000 jobs were lost in October and the unemployment rate surged to 6.5 percent, its highest level since 1994. GM and Ford reported massive losses for the third quarter and warned that they need government aid because if the economic situation fails to improve, they advance the risk of not having enough cash to operate.

“Tens of millions of families are struggling to figure out how to pay the bills and stay in their homes,” Obama said, standing ahead of a row of economic luminaries such as former Treasury Secretary Robert Rubin and former Federal Reserve Chairman Paul Volcker.

“Their stories are an urgent reminder that we are facing the greatest economic challenge of our lifetime, and we’re going to have to act swiftly to resolve it.”

Call to set aside politics

The president-elect called on members of both parties to “set science of government away for a in which case” to deal with the economic crisis. Yet political economy continued in Washington, D.C., as congressional Democrats and the Bush administration clashed over the stimulus package and free-trade agreements.

Bush superintendence officials signaled Friday they are likely to deny stimulus proposals from Democrats, sententious precept that the ideas mentioned to such a degree far would be under the necessity scanty immediate impression and that the $700 billion rescue plan approved greatest month needs again time to play out.

The outlines of the Democrats’ incitement plan are similar to the version the House approved Sept. 26, providing a 13-week extension of unemployment benefits, increased funding for food stamps, infrastructure projects and to states for Medicaid costs.

Also in continuance the table is a proposal to counterpart the $25 billion in low-interest loans to automakers to impart more fuel-efficient vehicles.

Speaking before Obama’sitting news conference, White House speaker Tony Fratto said the administration would retrospect any legislation no more than the stimulus proposals floated by Democrats are “very limited and very forward-looking and long-range,” such as large-scale public-infrastructure projects that could take years to complete.

Proposals dismissed

Fratto in addition dismissed proposals for another extension of unemployment benefits, noting that one extension had been approved and some states can extend benefits further with federal matching funds.

Issuing a threat to the Bush administration, House Majority Leader Steny Hoyer, D-Md., said Democrats were prepared to forgo a planned lame-duck congressional session unless President Bush commits to a compromise goad bill.

“We still don’t have any agreement,” Hoyer said. “Clearly there’sitting no sharp end in us doing something if the administration is going to take the position that they’re not going to sign something.”

Leaving Congress shuttered would close the door on Bush’sitting legislative accomplishments, a particular blow to his free-trade agenda as the long-sought pact with Colombia awaits House and Senate approval.

Democrats could bide one’session time until the new administration takes office in January to go on a stimulus budget. Friday, Obama said he wanted to see the measure pass “sooner rather than later.”

He said he would review how the Treasury Department is implementing its devise to spend $700 billion to rescue the financial markets, including whether bank executives receiving government relief are being in an undue manner rewarded.

He added he would move with “all deliberate vehemence” to prepare appointments and order his transitional relating to housekeeping team to drudge put on extra options to aid automakers.

Gesture of attention

Arriving during the term of his first meeting through reporters since being elected, Obama said, “Oh, wow,” as he walked into a basement ballroom in the Hilton Chicago, expressing surprise at the tradition of reporters standing when a president or president-elect walks into a room. He laughed. “Thank you very much, everybody,” he said. “Thank you very plenteous.”

He was flanked through Sen. Joseph Biden, the soon-to-be vice president, and Rep. Rahm Emanuel, the Chicago congressman who will be the White House chief of shillelah. He also brought through him a football team’s merit of economic advisers, the group he had met through earlier.

Addressing issues as varied as Iran and his family’s investigate for a suitable dog for the White House, he took care to express gratitude Bush for his earnest remarks upon his election, and to pledge that he would end nothing between now and Jan. 20 to undercut the departing chief executive.

“We only have some president at a time,” he said.

He was cool and cautious when he was asked whether he had responded to a letter from President Mahmoud Ahmadinejad, of Iran, that eminent the first time since the Iranian revolution that a leader in Iran had congratulated a U.S. election winner.

“I will be reviewing the letter,” he said, “and we determination respond appropriately.”

Near the end of the session, he alluded to a family choice facing his family: that which bland of dog to bring to the White House. Perhaps, he said, the Obama family should visit a shelter and pick exhausted “a mutt like me.”

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