Obama calls recession a 'disaster'
31-01-2009
President Barack Obama has called the contraction of the US economy in the final quarter of 2008 a "continuing disaster" for the US. The latest figures from the United States show the country's economic output fell 3.8 percent in the last three months of 2008, the worst quarterly contraction in more than 26 years. Mr Obama said the data meant Congress must not drag its feet on his stimulus plan. Speaking at the White House, the president also announced a new task force to help middle-class working families. He said the task force, to be headed by Vice President Joe Biden, would focus on creating well-paid jobs for middle-class working families. Mr Obama also said he wanted to "level the playing field" for labour unions, saying that strong unions needed to work "side by side" with strong businesses. The president said he had signed three executive orders to help workers, ensuring - among other things - that federal contractors offer jobs to existing workers when contracts change.
