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Obama: Economy to get worse before it improves
December 7, 2008 9:40 am ObamaWASHINGTON (AP) — President-elect Barack Obama says the economy is going to get worse before it gets better.
There
are about six weeks before his inauguration and Obama says his top
priority is to have an economic recovery plan that is equal to the task
ahead.
Obama also wants to make sure the domestic auto industry
doesn’t disappear. But he says that if taxpayer money is at stake in a
rescue plan, there must be some guarantee of a viable industry that
emerges.
Congress and the Bush administration are working on
legislation to give the Big 3 automakers roughly $15 billion in loans.
Legislation could pass as early as this week.
Obama made the comments in an interview with NBC’s “Meet the Press.”
