Friday, January 16, 2009
President-elect Barack Obama says urgent action is needed to address the slumping economy, but he says there's still time to take dramatic action.
Talking to workers at a plant in northern Ohio on Friday, Obama said economists from across the spectrum argue that if nothing is done and the U.S. continues on its current path, the recession could linger for years.
Obama is on the road pitching his plan for a massive economic stimulus plan in a depressed area of the industrial Midwest that's been hit hard by the recession. The president-elect is seeking some $825 billion in new spending and tax cuts to spur the troubled economy.