A roundup of news, schedules, and key stories from CBS News ... - CBS News
President-elect Obama will detail his economic stimulus plan today but not without dire warnings of what might be if his plan isn’t passed.“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,” Mr. Obama will say during his 11am speech at George Mason University in Fairfax, Va.
“If nothing is done, this recession could linger for years. The unemployment rate could reach double digits. Our economy could fall $1 trillion short of its full capacity ... And our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world. In short, a bad situation could become dramatically worse.”
While he’ll acknowledge the costs will be immense, “the consequences of doing too little or nothing at all ... will lead to an even greater deficit of jobs, incomes, and confidence in our economy.”
Read more of the excerpts here. .
CBS NewsA roundup of news, schedules, and key stories from CBS News I.; Susan Collins, R-Maine; and Lindsey Graham, RS.C. Their exact stops have not been disclosed but there are reports that Pakistan is on their itinerary.