The Straits Times
Published on Nov 09, 2012

Obama to make economy statement on Friday: US official


WASHINGTON (AFP) - US President Barack Obama will make on Friday his major first post-election intervention in the looming showdown with Republicans over debt and spending, with an on-camera White House statement.

A White House official told AFP that the remarks, in the presidential mansion's ornate East Room, would focus on "the action we need to take to keep our economy growing and reduce our debt".

Mr Obama is expected to weigh in on the cresting row with Republicans over expiring tax cuts, looming automatic spending reductions and reducing the deficit, which experts warn could spark a recession if not defused.

The president says Americans sent a message to Washington by returning him for a second term on Tuesday, and that both parties should put aside partisan interests to focus on the economy first.