Newt Gingrich speaks to business crowd in Omaha

Omaha, NE – Former U.S. House Speaker Newt Gingrich says President Barack Obama faces several significant challenges in his new administration.

Gingrich was the keynote speaker at the Greater Omaha Chamber of Commerce luncheon Wednesday. He says Obama's inauguration was emotionally powerful, especially since the White House changed parties after the Election. Gingrich says the new President faces challenges from world leaders.

Gingrich is now the Chairman of the Center for Health Transformation. He says people should take responsibility for their own basic health care needs. Gingrich says communities need to come together to improve everyone's health.

The retired Congressman also talked about the economy, saying everyone has a "fundamental misunderstanding" of what's led to the current economic troubles. Gingrich called the first economic stimulus a disaster and criticized Congress for bailing out banks and financial institutions without seeking real answers to their problems.