US President-elect Barack Obama spends sleepless nights worrying about the fate of America in the face of a looming recession, with a "lame duck" in charge of the country.

With few more weeks to go until he takes over the charge at Oval, Obama in an interview to ABC News' Barabara Walters spoke about his "biggest fear" that keeps him awake all night.

"There are a lot of things that keep me up all night..One of the concerns I have is that the economy is so weakened that the next 60 days are going to be difficult because we've got a president who, even though he may mean well, is now sort of in lame-duck status (and) Congress isn't in (session)."

"And I don't have the reins of power," Obama added.

He, however, parried a question about what his government would do after coming to power on January 20.

"I am not a miracle worker," he said but added that he and his team would carefully review the way the Bush administration distributes bailout funds to Wall street banks seeking emergency assistance.

Calling automaker executives "tone deaf", he said the "captains of industry" on Wall Street and in Detroit don't have "any perspective on what's happening to ordinary Americans".