Gov. Granholm: Obama Economic Insider

Nov. 8, 2008 — -- Yesterday President-elect Barack Obama met with a team of economic advisers to craft a strategy to deal with the nation's suffering economy.

Michigan Gov. Jennifer Granholm was there for it all as a member of Obama's economic advisory board.

Today, Granholm spoke with "Good Morning America" about the strategy Obama may implement after inauguration in January.

"Clearly, [Obama] wants to focus on short-term, medium-term and long-term strategies that will help him fulfill the promises that he made on the campaign trail, but also deal with this economic crisis that industries are facing. The auto industry being a full-fledged economic crisis, but others as well. Extension of unemployment benefits was on the table."

Granholm said that Obama recognized he will not be president until January 20, but "charged his Cabinet advisory team and his strategists" and future Cabinet with "coming up with the specific steps that will be necessary to carry forward."

"This is a president-elect who is determined to get us through this challenge, this crisis and determined to do it in the right way," she said.

Specifically addressing the auto industry crisis, Granholm said that the economic team is looking at steps to "ensure its survival."

"It depends on what needs to happen. If one in ten jobs in the country is affected by the domestic auto industry, if this domestic auto industry goes under, that means 3.5 to 5 million jobs in this nation. It would have a ripple effect that is just unacceptable. So, there was a recognition around the table by the experts and the economic advisers there that you cannot just allow this major industry to fail."

Though her name has been rumored to be among those considered for a cabinet position in the new administration, Granholm said "I want to be governor while I have a president who is a partner."

"That means I think I can best serve his agenda, in a state that is very much in crisis, here as governor," she said. "I'm excited to have a president that cares about the auto industry and the manufacturing sector. [I'm] excited to implement his policies here."