Barack Obama wants new economic direction

President-elect Barack Obama rallied support for his new economic stimulus plan suggesting that the costly program and its associated debt is necessary to stave off even deeper woes for the economy.

"It is time to set a new course for this economy, and that change must begin now," he said at an address on the economy at George Mason University, near Washington.

Obama's plan that is projected to cost between $800 billion and $1 trillion comes on more bad employment news showing the 2008 was the worse year for job losses since 1945.

"For every day we wait or point fingers or drag our feet, more Americans will lose their jobs," Obama said. "More families will lose their savings. More dreams will be deferred and denied."

"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible."

Reuters

Congress, Obama focus on economy

Report
Jan 06, 2009

FOXNews

Obama calls for new economic course
USA Today - 1 hour ago
By Charles Dharapak, AP By Douglas Stanglin, USA TODAY WASHINGTON - President-elect Barack Obama sought to rally support for a new economic stimulus package by acknowledging that his plan will be expensive and painful, but warning that inaction could ...
Lawmakers and Financial Experts Question Obama's Tax Cuts Washington Post
Obama to Warn of Costs of Inaction on the Economy New York Times


Boston GlobeUS December Job Cuts Quadruple From Year Ago, Challenger Says
Bloomberg - Jan 7, 2009
For all of 2008, employers announced 1.22 million job cuts, the most in five years. The economy is caught in a self-perpetuating cycle of rising job losses ...
Some bad omens for key jobs report CNN
National business news briefs: Lots of job cuts Kansas City Star
Financial service hit hard by Dec. job cutsBoston Globe