Washington - Celebrating his 100th day in office, President Barack Obama said he was happy with his early efforts to stabilize the US economy, which has dominated the young administration, but warned of more struggles ahead before the 16-month long recession comes to an end. At a White House news conference Wednesday night to mark the ceremonial day, which serves as a kind of report card for new administrations, Obama voiced surprise at the number of challenges - both foreign and domestic - that had converged on the United States since he began running for the presidency more than two years ago.
"I am surprised ... by the number of critical issues that appear to be coming to a head all at the same time," Obama said. "Obviously, I didn't anticipate the worst economic crisis since the Great Depression."
Obama asked for "patience" from the public and reiterated his long-running theme that the country had to build a "new foundation for growth" in the coming years that was less reliant on debt and lax regulations of financial institutions.
"I am pleased with our progress but I am not satisfied," Obama told reporters. "Millions of Americans are still without jobs and homes, and more will be lost before this recession is over."
Obama also touted his attempt to reshape US foreign policy, including reopening diplomatic channels with US enemies, and said the country would be safer in the long run by banning tough interrogation practices that could be considered torture.
Obama's decision earlier this month to release past legal memos that sanctioned the use of tough interrogation techniques has set off a furious debate between allies of Obama and those of former president George W Bush.
"I will do whatever is required to keep the American people safe," he said. "I am absolutely convinced that the best way I can do that is by not taking short cuts that undermine who we are."
Having been elected on a promise to change Washington's partisan culture, Obama chastised Congress for a high-degree of politicking despite the serious foreign and domestic challenges facing the country.
"There is still a certain quotient of political posturing and bickering that takes place even when we are in the middle of really big crises," Obama said as many of his policies to date have been approved along largely party lines, including a 787-billion-dollar financial stimulus package.
Obama welcomed a political gift that was handed him in the run-up to his 100th day - the defection Tuesday of long-time Republican Senator Arlen Specter to the Democratic Party - which could make it much easier for Democrats to push the president's agenda through Congress.
But Obama insisted his outreach efforts to Republicans had been "genuine" and promised to work with the opposition on a series of top issues he hopes Congress will tackle during the coming year, including reforms of health care, energy and immigration policy.
His remarks came amid some mixed signs about the state of the US economy. Government figures Wednesday showed the US economy shrank 6.1 per cent in the first quarter of this year, though the Federal Reserve touted signs that the outlook had "improved modestly" over the past few weeks.
Obama promised an "unyielding effort" to revive the economy and said he expected broader, far-reaching reforms on how Wall Street is regulated to be adopted by the end of the year.
"Even as we clear away the wreckage of this recession ... we can't go back to an economy that is built on a pile of sand," he said.
The global economy has largely been brought down by excessive risks taken in financial sectors, especially in the US housing market that began folding in mid-2006.
