SiliconBeat

Google chief executive Eric Schmidt said the current economic slowdown put advertising budgets “under stress,” according to an interview he did with Bloomberg TV in New York. “There’s no evidence that we’re immune,” Schmidt said. “We’re being cautious.”  Schmidt says the wariness has made the world’s most popular Internet search site slow its hiring rates.

Schmidt made other, perhaps more-widely followed news Monday when he was reported to be ready to endorse Barack Obama for president and appear with him on the campaign trail, according to the Wall Street Journal. Mr. “Schmidt said his planned endorsement of the Illinois senator is a ‘natural evolution’ from his role as an informal adviser to the Obama campaign,” reported the Journal.

A Google spokesperson confirmed the news to Clint Boulton of eWeek.com, saying:

“Eric is actively campaigning for Barack Obama because he believes that it is time for a change in America. In addition, his personal views on technology and energy are similar to Senator Obama’s. Google of course remains neutral in the campaign.”