In an interview on CBS’ 60 Minutes, his first since the election, President-elect Barack Obama talked about the economy, the housing market and how to create a sustainable auto industry. He said that the $700 billion bailout plan has done little to improve the economy so far, but he credited the Bush administration Sunday for working to address the global financial crisis.

“There’s no doubt that we have not been able yet to reset the confidence in the financial markets and in the consumer markets and among businesses that allow the economy to move forward in a strong way,” Obama said. “And my job as president is going to be to make sure that we restore that confidence. We shouldn’t worry about the deficit next year or even the year after. … The most important thing is that we avoid a deepening recession.”

The president-elect also said that not enough has been done to address bank foreclosures and distressed homeowners.

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