In what was an honest, but dire assessment of our country's economic future, President-elect Barack Obama stated today in his address to the nation that he is developing an aggressive stimulus package in an effort to prevent millions of job losses in the next year according to MSNBC.com. In his address he stated the following:
"If we don't act swiftly and boldly, most experts now believe that we could lose millions of jobs next year." "We now risk falling into a deflationary spiral that could increase our massive debt even further."
Obama, who named Timothy Geithner as his nominee for Secretary of the Treasury, is at least being honest amidst all the doom and gloom of the economic markets, high unemployment, and general uneasiness of the American people.
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