President-elect Obama warns the nation on the economic crisis - KSLA News 12 Shreveport, Louisiana News Weather & Sports

President-elect Obama warns the nation on the economic crisis

WASHINGTON (AP) - President-elect Barack Obama says the recession could "linger for years" unless Congress passes his economic stimulus plan. In a prepared speech, Obama says he doesn't believe it's too late to change course, but that it will be too late "if we don't take dramatic action as soon as possible." Obama says a worst-case scenario could include double-digit unemployment and $1 trillion in lost economic activity that recalls the days of the Great Depression. It's the fourth day in a row that Obama has made a pitch for a huge infusion of taxpayer dollars to revive the sinking economy.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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