President-elect Barack Obama has warned that he does not have a "crystal ball" to predict when the US economy will recover and sought to manage expectations as to how much he could do to help it along.
Obama has said several times that the economy is likely to get worse before it gets better and has proposed a massive investment in infrastructure to help stimulate a recovery and create 2.5 million new jobs.
That recovery plan will be focused on creating a "new energy economy," Obama said yesterday in announcing his energy and environmental chiefs.
"I think that the future of innovation and technology is going to be what drives our economy into the future," Obama said at a press conference.
"And so, we get a twofer: We get an immediate jumpstart to the economy and jobs that are immediately being created on things like a smart (electrical) grid or working to make our buildings more energy efficient. And, at the same time, we're setting the path for long-term, sustained economic growth."
But when asked by a reporter when things will get better and how the American people should hold his administration accountable, Obama would offer no promises or timeline.
"I want to be completely honest with the American people. I don't have a crystal ball," Obama said.
"What I have control of is making the good, smart decisions that lead to long-term, sustainable economic development and growth."
Obama said the "yardstick" he should be measured by is whether he is creating jobs and "strengthening our economy."
Obama said he was "confident" that his recovery plan "will create jobs immediately that would not otherwise be created" through scores of "shovel-ready projects" waiting for funding across the country.
