Tuesday, November 11, 2008

Hitting the Ground Running

President Bush walks with President-elect Barack Obama during a visit to the White House, November 10, 2008.
(Jim Young/Reuters)

Obama went to the White House on a mission to fix the economy. Will Bush act?

MSNBC First Read: The details on today's meeting

A source familiar with today's White House meeting tells NBC News that President-elect Obama focused on three economic issues during his conversations with President Bush this afternoon. The top topics: a stimulus package in the lame duck session, aid to the auto industry, and help for homeowners with adjustible-rate mortgages in order to prevent more foreclosures.

According to the source, Obama told Bush that action is needed on a stimulus package now - in a lame duck session - and cannot wait until after the inauguration.

Obama also urged help for automakers and encouraged the acceleration of the disbursement of $25 billion dollars for the industry.

On his third focus - housing - Obama voiced his concern that homeowners whose mortgage rates are about to go up will need aid to prevent more Americans from defaulting on home loans.

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