Obama, Biden Deliver Remarks on the Economy

CQ Transcripts Wire
Friday, January 30, 2009; 11:01 AM

PRESIDENT OBAMA: Thank you for joining us today. It is a privilege to be among this diverse group representing labor unions and not-for-profit organizations and advocates for our business community.

And I am pleased to be here with our outstanding vice president, Joe Biden.


I see some of my colleagues. Got some senators here. We got a -- got a governor -- at least one of them I see over here. And member -- members of Congress and a lot of good friends and Cabinet members. So this is an outstanding gathering.

Today we learned that our economy shrank in the last three months of 2008 by 3.8 percent. That's the worst contraction in close to three decades.

This isn't just an economic concept. This is a continuing disaster for America's working families.

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