Obama reportedly working on economic crisis

CHICAGO In his first radio address as president-elect, Obama said his first priority is getting a new stimulus package passed.

After a quick work-out, it was on to world leaders for America's new president-elect Saturday. Barack Obama talked by phone with Russian President Dmitry Medvedev. A Kremlin spokesman says the two agreed to work together and will plan a summit soon.

Also Saturday, Barack Obama delivered the Democrats' Radio Address.

"While we must recognize that we only have one President at a time and that President Bush is the leader of our government, I want to ensure that we hit the ground running on January 20 because we don't have a moment to lose," Obama said during the address.

Mr. Obama and his wife Michelle will meet at the White House with President Bush and the First Lady on Monday. It will be the most visible sign to date of the transition of power, a process the Bush Administration actually began planning for one year ago.

"In the coming weeks, we will ask administration officials to brief the Obama team on major ongoing policy issues, ranging from the financial markets to the war in Iraq," President Bush said in his radio address.

Obama stood with his leading economic advisors during his first news conference Friday. Among them was Michigan's Gov. Jennifer Granholm, who warned about several U.S. automakers who may be on the verge of collapse.

"If this domestic auto industry goes under, that means 3.5 to 5 million jobs in this nation. It's a big [deal]. It would have a ripple affect that is just unacceptable," Granholm said.

Obama is also apologizing for his first faux-pas as president-elect, when he said he planned to seek advice from former presidents, but only those who are still alive.

"I didn't want to get into a Nancy Reagan seance thing," Obama said during Friday's press conference.

Barack Obama has called Nancy Reagan to say he's sorry for what his aides call a "careless, off-handed remark."

Obama's election has been great for the Chicago newspaper business. Special Sunday commemorative sections in the Chicago Tribune and the Chicago Sun-Times are selling out but will be replenished throughout the weekend.

Copyright © 2023 WLS-TV. All Rights Reserved.