LH: He said he cold do it. I am still waiting.

January 8th 2009         

Washington - US president-elect Barack Obama warned Thursday that the recession in the United States could grow "dramatically worse" and last for years unless "bold" policies are enacted to reverse the trend.

Unemployment could rise into double digits and the US economy could lose 1 trillion dollars of its capacity as the country copes with the poorest economic conditions since the Great Depression of the 1930s, Obama said.

"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," Obama said in a major speech on the economy at George Mason University, just outside Washington in Fairfax, Virginia.

Obama and his economic advisors are working on a stimulus plan that could reportedly reach up to 1 trillion dollars to pump money into the economy by investing in infrastructure projects, healthcare, education and alternative energy sources. Obama wants the plan ready for congressional action after he takes office January 20.