20 as the U.S. 44th president. "The need for us to act is now. It's never been more urgent," he said, warning that "Recovery won't happen overnight, and it's likely that, even with these measures, things will get worse before they get better." The U.S. economy, stuck by the current financial crisis, has been in a recession since December 2007. Many economists believe the current downtown will be the most severe since the Great Depression. Economists polled by Reuters expected the economy to contract at an annualized 4.3 percent in the last three months of the year
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WASHINGTON
louis vuitton make up bag, Feb. 5 (Xinhua) -- U.S. President Barack Obama warned on Thursday that the current economic crisis might "turn into catastrophe" if the congress does not approve his massive stimulus package immediately. "Crisis could turn into catastrophe for families and businesses across the country, and I refuse to let that happen," said Obama at the Department of Energy. He called on lawmakers "to rise to this moment." "Inaction is not an option that is acceptable to me, and it's certainly not acceptable to the American people, not on energy
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