Obama Aides: Recovery Will Take Time

Published December 24, 2015

WASHINGTON -- Top aides to President-elect Barack Obama said Sunday that it didn't take a couple months for the economy to get in such dire straits, so no one should expect a recovery in that amount of time.

"I think the American people understand, as the president-elect does, that this economy is likely to get worse before it gets better and I think the American people and the president-elect understand also that it's certainly going to get far worse unless or until we act immediately," said incoming Press Secretary Rob Gibbs.

Gibbs told "FOX News Sunday" that Obama is working with Congress to try and pass the Economic Recovery and Reinvestment Act, a $825 billion package, by President's Day Weekend.

Senior adviser David Axelrod said the new administration is determined to "put the brakes on the most serious economic downturn" in years.

"Even if we move rapidly, it'll take a little while," Axelrod said on ABC's "This Week."

He also said that Obama wants to pursue whatever strategy necessary to avert double-digit unemployment across America. The nation's unemployment rate shot up to 7.2 percent in December, the highest in 16 years.

Axelrod said the new administration will try to guide its policies with "a combination of optimism and realism." He said officials believe that it will take years, not a matter of months, to turn the economy around.

He added that Obama will have a "strong message" for bankers, and wants to see credit flowing again.

The Associated Press contributed to this report.

URL

https://www.foxnews.com/politics/obama-aides-recovery-will-take-time