President-elect Barack Obama said that Democrats and Republicans need to act with urgency to address the “great and growing” economic crisis, warning of double-digit unemployment if swift action isn’t taken.
“These are America’s problems, and we must come together as Americans to meet them with the urgency this moment demands,” he said today in his weekly radio address. “If we don’t act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment.”
With the U.S. amid its worst economic slump since World War II, Obama said he is looking forward to meeting with leaders of both political parties in Washington in the new week. Job losses are likely to continue this year, as economists surveyed by Bloomberg News in December forecast the jobless rate to rise to 8.2 percent by the end of 2009 from 6.7 percent in November.
You can view Obama's entire address below:
