John
05-01-2009, 09:24 AM
US President Barack Obama has sought to reassure Americans his plans to revive the US economy are on track.
Looking back on his first 100 days in office, Mr Obama said: "We are off to a good start. But it is just a start. I am pleased with our progress, but I am not satisfied."
The President spoke out after the Democrat-controlled Congress approved his $3.4 trillion fiscal 2010 budget.
But the 100-day mark was further clouded by growing questions about the fate of troubled car giants Chrysler and General Motors.
Mr Obama said he was very hopeful that Chrysler would again become viable but it remained unclear if the company would seek bankruptcy to complete its restructuring.
Underscoring the difficulties faced by his administration, new government data on Wednesday showed the economy contracted at a 6.1 per cent annual rate in the first quarter, a steeper-than-expected decline.
Looking back on his first 100 days in office, Mr Obama said: "We are off to a good start. But it is just a start. I am pleased with our progress, but I am not satisfied."
The President spoke out after the Democrat-controlled Congress approved his $3.4 trillion fiscal 2010 budget.
But the 100-day mark was further clouded by growing questions about the fate of troubled car giants Chrysler and General Motors.
Mr Obama said he was very hopeful that Chrysler would again become viable but it remained unclear if the company would seek bankruptcy to complete its restructuring.
Underscoring the difficulties faced by his administration, new government data on Wednesday showed the economy contracted at a 6.1 per cent annual rate in the first quarter, a steeper-than-expected decline.