President-elect Barack Obama said that if U.S. Congress doesn’t do something to help fix the poor economic situation in America, the recession could last for years and many more people could lose their jobs.
“If nothing is done, this recession could linger for years,” said Obama. “The unemployment rate could reach double digits.”
Obama says his “American Recovery and Reinvestment Plan” will save or create 3 million jobs and invest money into important industries like health care, energy and education.
There’s been no official word on how much the plan will cost, but experts estimate it could reach the $800 billion mark.
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