(Bloomberg News circulated the following on January 30, 2009.)
WASHINGTON, D.C. — President Barack Obama said the state of the U.S. economy is “a continuing disaster” for families and said urgent action is needed to revive growth.
The president cited a Commerce Department report showing the economy shrank 3.8 percent at an annual pace in the last three months of 2008 as he said Vice President Joe Biden will head an expanded task force that will come up with policies to help middle-income Americans.
“The recession is deepening and the urgency of our economic crisis is growing,” he said at a White House ceremony.
Obama also said he would reverse former President George W. Bush’s policies by signing three executive orders to strengthen the ability of unions to organize workers.
“We have to reverse many of the policies toward organized labor,” he said. “I do not view the labor movement as part of the problem.”