Obama's US economic jolt

By Rob Reynolds in Chicago

Will Obama's team manage to calm markets more effectively? [GALLO/GETTY] Barack Obama, the US president-elect, is stepping into a yawning power vacuum in Washington DC in an unprecedented effort to restore confidence in the financial system. "The truth is, we don't have a minute to waste," Obama has said. "Right now, our economy is trapped in a vicious cycle: The turmoil on Wall Street means a new round of belt-tightening for families and businesses on Main Street – and as folks produce less and consume less, that just deepens the problems in our financial markets." Obama said the economy needs a "jolt" - a whopping stimulus package to put people back to work, fix the crumbling public infrastructure and develop clean energy sources. What he might have added is that the current president needs a jolt to wake him from his irresponsible slumber. Read more: http://english.aljazeera.net/news/americas/2008/11/2008112518503190737.html