I can't work miracles, says Obama

BARACK Obama today attempted to play down expectations that he could provide an instant fix to America's economic problems as he said: "I'm not a miracle worker."

With millions of Americans looking to the incoming president to solve the nation's financial crisis, he warned that there would be no easy ways out of the slump.

Confidence in Mr Obama has grown almost daily as he rolls out his economic team. Since he began announcing appointments Wall Street has rallied, with the Dow Jones index up 1,100 points.

But in a candid interview last night on US TV, Mr Obama admitted that the worsening economic situation was keeping him awake at night.

He said his biggest fear was what might happen to the country before he assumed power from President George Bush in January. He told ABC TV star interviewer Barbara Walters he was worried for the country while a "lame duck" president was in charge.

"One of the concerns I have is that the economy is so weakened that the next 60 days are going to be difficult because we've got a president who, even though he may mean well, is now sort of in lame-duck status and Congress isn't in session. And I don't have the reins of power."

Mr Obama said he and his team, including former Federal Reserve chairman Paul Volcker, 81, named as head of a new economic advisory board, would look at how Mr Bush has spent the £400 billion bail-out agreed by Congress. "I'm not president yet, so I don't know yet how much more money is going to be spent," Mr Obama said.

"I'm going to scrutinise very carefully how that money is spent. If the Bush administration chooses to draw down that money, then I'm going to have something to say about whether it's doing it wisely."

He also said his young daughters will still have to do chores when they move into the White House, including picking up after their new puppy.

Sasha, seven, and Malia, 10, will have to "scoop the poop", he told Ms Walters. "We've been talking to them about that. We don't want litter on the White House lawns. They're going to have to do their job."