Obama's top priority will be to tackle the economic crisis

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Washington, Nov 8 : President elect Barack Obama speaking at his first press conference after getting elected president has warned that fixing the economy will not be "easy" or "quick," and assured people to confront this economic crisis head on as soon as he is sworn in.

Obama also warned of a tough road ahead during his first press conference on Friday after meeting with a team of top economic advisers, FOX News reported.

Obama said he's "confident a new president can have an enormous impact," calling the financial crisis the "greatest economic challenge of our lifetime."

"It is not going to be quick. It is not going to be easy for us to dig ourselves out of the hole that we are in. But America is a strong and resilient country, and I know we will succeed," Fox News quoted Obama, as saying."

Obama stressed the need to extend unemployment benefits, stimulate job growth and reduce the number of foreclosures, and he pressed for Congress to pass a new stimulus package sooner rather than later.

"If it does not get done in the lame duck session, it will be the first thing I get done as president of the United States," Obama said.

He also deferred to President Bush, saying "we only have one president at a time."

Obama said he appreciated Bush's commitment to ensuring a smooth transition, and said he was grateful Bush invited him and his wife, Michelle Obama, to the White House on Monday.

Obama spoke after he and Vice President-elect Joe Biden convened a meeting of the transition economic advisory board, a high-powered group of business, academic and government leaders.

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