Obama warns of dire consequences without stimulus
President-elect Barack Obama warned of dire and long-lasting consequences if Congress doesn't pump unprecedented dollars into the national economy, making an urgent pitch Thursday for his mammoth spending proposal in his first speech since the election.
"In short, a bad situation could become dramatically worse" if Washington doesn't go far enough to address the spreading crisis, the Democrat said as fresh economic reports showed an outlook growing increasingly grim.
You can't borrow your way out of debt. We're on the Titanic headed for the iceberg and the captain orders full speed ahead in 'hope' he can smash through it.
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