Democratic officials told CNN that forecasts predict up to 4 million jobs will be lost over the next year and that the unemployment rate should rise to more than 9 percent.
Another sign of the ailing economy came from California where Gov. Arnold Schwarzenegger declared a fiscal emergency with the state's revenues falling more drastically than anyone expected.
The big question again though is where all the money will come from. Will Obama raise taxes or increase the deficit?
 CTV.ca |
CNN -
WASHINGTON (CNN) -- President-elect Barack Obama has decided to increase his goal for creating new jobs after receiving economic forecasts that suggest the economy is in worse shape than had been predicted, two Democratic officials told CNN.
Obama Expands Economic Recovery Plan to Create 3 Million Jobs
Obama Expands Economic Goals as Outlook Dims
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