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Obama adviser: US is in economic war

(Agencies)
Updated: 2009-03-15 21:54

WASHINGTON -- A top presidential adviser says the Unite States is in an "economic war" -- one that is not being won yet.

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Economic aide Christina Romer says she agrees with investment mogul Warren Buffett, who used the "economic war" phrase last week to describe the nation's economic woes.

In Romer's words, "We haven't won yet. We have staged a wonderful battle."

Romer heads the president's Council of Economic Advisers. She says the White House believes the fundamentals of the economy are strong. Romer says the administration is looking at the long-term view, not the daily ups and downs on Wall Street.

Romer also says it is premature to talk about a second economic stimulus package that some Democratic allies are seeking.