I swear that it looks like President-Elect Obama is listening the Geroge W. Bush thinking, “For Real Dude”. This is whatcha leaving me.
President-elect Barack Obama said Thursday the recession could “linger for years” unless Congress pumps unprecedented sums from Washington into the economy, making his highest-profile case yet on an issue certain to define and dominate his early presidency.
“A bad situation could become dramatically worse,” Obama said, painting a dire picture _ including double-digit unemployment and $1 trillion in lost economic activity _ that recalled the days of the Great Depression in the 1930s.
Indeed, the economic news is grim.
Consumers and companies are folding under the negative forces of a collapsed housing market, a global credit crunch and the worst financial crisis since the 1930s. The recession, which started in December 2007, already is the longest in a quarter-century.