Obama's YouTube economy warning <http://www.youtube.com/watch?v=X9QkLzxrYzw>
US President <http://uk.news.yahoo.com/fc/george-bush.html> Barack Obama has used his first radio and web address from the White House to promote his own economic stimulus plan. Mr Obama, in his first YouTube address as president, warned Congress that failure to approve and implement the $825 billion (£607.2bn) package to boost the American economy could damage the prospects of millions of people. He said: "If we do not act boldly and swiftly, a bad situation could become dramatically worse." The US is in its worst economic crisis since the Great Depression and Mr Obama's economic team also is working on a plan for the remaining half of a $700 billion (£515.2bn) bail-out that Congress approved last year to help financial firms. This is expected to help distressed banks as well as providing aid for people who face losing their homes. Mr Obama said more people filed for unemployment this week than at any time in the past 26 years and warned joblessness could hit double digits and the economy could fall $1 trillion short of its full capacity if nothing is done. The US leader said the economic recovery plan will save or create 3 million to 4 million jobs while investing in clean energy development, education and improving health care efficiency. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "WebTV Dawgs/Dittos" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/WebTV-Pals -~----------~----~----~----~------~----~------~--~---
