President Barack Obama

In a radio and Internet broadcast, President-elect Barack Obama said that the ailing U.S. economy is in danger of even worse turmoil and more challenges. Obama is urging Congress to act expeditiously on his economic stimulus proposals.

Barack Obama said, “as we mark the beginning of a new year, we also know that America faces great and growing challenges — challenges that threaten our nation’s economy and our dreams for the future…for too many families, this new year brings new unease and uncertainty as bills pile up, debts continue to mount and parents worry that their children won’t have the same opportunities they had.”

Barack Obama will be sworn in as America’s 44^th President on January 20, with the global economic crisis facing his administration as the number one priority. Obama indicated that he would meet in the near future in Washington with both Democratic and Republican Congressional leaders to discuss his economic stimulus plan that seeks to create 3 million new jobs just as the U.S. unemployment rate is soaring.