Obama grim on future if stimulus delayed

In his most high profile speech since the election, the president-elect ratcheted up the rhetoric to pressurise lawmakers who are threatening delays to his stimulus package.

He said the unemployment rate was in danger of reaching double digits and the recession “could linger for years” without urgent intervention.

“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,” he told an audience at George Mason University near Washington.

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