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Obama calls on congress to ease financial crisis at home

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Obama calls on congress to ease financial crisis at home

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As the G-20 nations meet in Washington to seek solutions to the global economic crisis President-elect Barack Obama stayed away. Instead he delivered a radio address also published on YouTube.

While supporting the efforts of the G20 to find a way out of the current crisis, Obama looked closer to home: “We must act right now. Next week, Congress will meet to address the spreading impact of the economic crisis. I urge them to pass at least a down-payment on a rescue plan that will create jobs, relieve the squeeze on families, and help get the economy growing again.”

Unemployment in the US is on the up with 1.2 million jobs lost this year alone with more to come. A case in point is car giant General Motors, the company is leaking 2.4 million euros per day and expects to run out of cash in the new year.