Obama Talks Finance

January 6. 2008

President-elect Barack Obama has been busy making plans for the U.S. economy. In support of what he would like to accomplish, he visited Congress. He also spoke with senator Nancy Pelosi.

Obama further shared his concerns that the economy is getting worse.

Obama says trillion-dollar deficits may last years

WASHINGTON (AP) - President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."
He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.

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Obama says economy 'getting worse'

Obama Meets With Pelosi To Discuss Economic Stimulus Plan

WASHINGTON (AP) - President-elect Barack Obama describes the economy as "bad and getting worse."…

"We have to act and act now," in order to break what he called the "momentum of this recession."…

He said he went to Capitol Hill ahead of his inauguration because "the people's business cannot wait."

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