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Obama speaks to Bush on auto aid

(China Daily)
Updated: 2008-11-12 08:07

Barack Obama spoke with President George W. Bush about the urgency for aid to US automakers at a private White House meeting, aides to the president-elect said.

During Monday's meeting, which both sides described as "friendly", the two men also discussed the nation's housing crisis and the need for a second economic stimulus package.

Obama and Bush spoke about the "broad health of the auto industry", Obama spokesman Robert Gibbs told reporters traveling on the president-elect's plane to Chicago after the meeting.

"They talked extensively about both the economic situation as well as foreign policy."

At the same time, Obama signaled he was in no rush to assume responsibility for dealing with the financial crisis.

Speaking on a phone in front of reporters aboard his plane, Obama was overheard saying he won't be "spending too much time in Washington over the next several weeks". Obama spokeswoman Jen Psaki said he won't attend the international summit on the global economic crisis that Bush has called Nov 14 and 15 in Washington.

Before departing, Obama had a private meeting at Ronald Reagan Washington National Airport that aides refused to give any details about.

He also placed calls, including one to Senator Richard Lugar of Indiana, a senior Republican voice on foreign policy and national security, Gibbs said.

Auto industry

Figuring out how to keep the US auto industry afloat if action isn't taken before the end of the year is one of the more pressing economic issues Obama will face. General Motors Corp, the biggest US automaker, reported a $4.2 billion third-quarter operating loss last week and warned it may run short of operating cash by the end of June. Ford Motor Co reported a $2.98 billion loss for the quarter.

Agencies

(China Daily 11/12/2008 page16)