Monday, December 8, 2008 12:16 PM

Obama Gets Fiscal In Weekend Appearances

By MARY GILBERT

With grim economic news once again dominating the news cycle, President-elect Obama took to the airwaves over the weekend to try to calm the country's frayed nerves. In his weekly radio/YouTube address, Obama outlined key provisions of his proposed economic stimulus plan. And in his first "Meet the Press" appearance since June, the president-elect discussed some of the unpopular choices he might be forced to make when he assumes office on Jan. 20.

Throughout the weekend, Obama tried to project an image of his new economic team as capable, pragmatic and ready to handle the current market turmoil. And he hailed his transition team's efforts in his interview on "Meet the Press," saying, "I'm very pleased with is how fast we've gotten a first-rate economic team in place, the fastest in modern history."

In his weekly address on Saturday, Obama laid out the core pieces of his plan, which he said he would try to pass immediately once in office. The proposals include efforts to improve the energy efficiency of government buildings and rewire schools "to help our children compete in a 21st-century economy," Obama said. He also reiterated his administration's plans for a massive investment in national infrastructure.

Updating the information superhighway and expanding broadband capacity to all communities will also be a priority, Obama said, calling it "unacceptable that the United States ranks 15th in the world in broadband adoption." And he pledged that stimulus funds will go towards putting medical records online and ensuring that doctors are using cutting edge technology. "That won't just save jobs," or billions of dollars a year, "it will save lives," Obama concluded.

The next day, Obama made his first appearance on "Meet the Press" since winning the election, fielding many questions on the economy. Comparing conditions today to those that faced President Roosevelt 67 years ago, Obama maintained that "as tough as times are right now, they're nothing compared to what my grandparents went through, what the 'greatest generation' went through." That said, he acknowledged that we are facing "a big problem, and it's going to get worse" before it gets better.

Asked to give a figure for how much his stimulus plan is going to cost, Obama hedged, saying only that it will be "significant." He signaled, though, that his administration will not consider itself limited by the growing deficit. "We understand that we've got to provide... a blood infusion into the patient right now to make sure that the patient is stabilized, and, and that means that we, we can't worry short-term about the deficit," he told host Tom Brokaw.

Obama also weighed in on negotiations between Congress and the Big Three automakers, saying that the car companies have made numerous mistakes but that given the condition of the economy as a whole, we cannot afford to have them collapse. He advocated giving GM, Ford and Chrysler assistance, as long as the companies "and all their stakeholders" -- "labor, management, shareholders, creditors" -- are willing to restructure and come up with a sustainable business model. "Keep[ing] the factory doors open" is a huge priority, he said, as millions of American workers depend on the industry.

Obama also expressed "disappointment" with the Bush administration on the issue of mortgages and foreclosures and insisted that any economic recovery package must help homeowners. He floated the possibility of a moratorium on foreclosures, as well as mortgage restructuring to keep people in their homes. He pledged that his economic plan will include "a strong set of new financial regulations in which banks, ratings agencies, mortgage brokers, a whole bunch of folks start having to be much more accountable and behave much more responsibly."

Obama refused to commit on the question of how his promise to change taxes has been affected by economic developments. He maintained that the Bush tax cuts have been bad for everyone, rich and poor alike, but did not say whether or not his team would seek to repeal the tax cuts in the short term, or simply wait for them to expire in 2011.

Economic talk even leaked into Obama's announcement of retired Gen. Eric Shinseki as his Veterans Affairs secretary Sunday afternoon. "In this struggling economy, we also have to do more to ensure that when our troops come home and leave the service, they can find jobs that pay well, provide good benefits and help them support their families," Obama told a reporters at a press conference in Chicago.