Obama announces he will create three MILLION jobs to save 'tanking' American economy... then goes golfing
Vice President-Elect Joe Biden warns that US economy is in danger of 'absolutely tanking'
Barack Obama has increased his target of creating jobs to three million as he prepares to take over the worst American economy since the Second World War.
The U.S. President-Elect, pictured playing golf in Hawaii during his family vacation, said it was the only way to stop the country from sliding into an even worse position.
Mr Obama will be on vacation in Hawaii for two weeks.
All work and no play: Barack Obama gets ready for a day of golfing and relaxation - but it's not all play, as with him is Eugene Kang, a member of his staff
Steady hand: Barack Obama takes aim during his golf game in Hawaii yesterday
Though he will be seeing friends and family, as well as attending a memorial service for his grandmother, who died during his presidential campaign, aides insisted he will also be working.
He is to receive national security briefings every day and friends joining the family on the vacation include people who worked on his campaign.
Mr Obama's jobs announcement came as his Vice President-Elect Joe Biden warned the U.S. economy is in danger of 'absolutely tanking'.
Mr Obama said last month that he planned to create 2.5million jobs in two years as he asked Congress to authorise a $850billion rescue package.
Talking on the phone and surrounded by guards, Mr Obama arrives to enjoy his game of golf
Dire warning: Vice president-elect Joe Biden said the U.S. economy is 'in much worse shape than we thought it was'
But after meeting with his team of economic advisers, that figure has been upgraded by half a million.
He has yet to reveal how the jobs will be created, apart from announcing plans to rebuild roads, bridges and other infrastructure.
And the price is likely to be more than three times the size of the financial rescue package touted during his election campaign.
Joe Biden said another £400billion of taxpayers' money might be needed to avoid a financial catastrophe.
'The economy is in much worse shape than we thought it was in,' said Barack Obama's number two in his first TV interview since last month's election triumph.
'We've got to begin to stem this bleeding here, and (start) the creation of jobs,' he said.
'The day we're sworn in, the thing that we have to worry about is the further collapse of this economy. No president since Franklin Roosevelt would have had such an immediate, urgent obligation.'
The latest bailout plan gained greater urgency after Mr Obama and Mr Biden met privately with economic advisors last week.
Aides warned that without another aggressive infusion of government cash, up to four
million jobs could be lost over the next three years. Unemployment could rise above 9 per cent for the first time in 25 years.
Mr Biden said: 'Every single person I've spoken to agrees with every major economist.
'There is going to be real significant investment, whether it's $600billion or more, or $700billion, the clear notion is, it's a number no one thought about a year ago.
'There is no short-run other than keeping the economy from absolutely tanking.'
Source: Daily Mail Uk.
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