Obama: 'If Nothing Is Done, This Recession Could Linger for Years'

Obama: 'If Nothing Is Done, This Recession Could Linger for Years'
President-elect urges Congress to take ''dramatic action'' with an economic recovery plan as quickly as possible. Transcript of radio broadcast:
08 January 2009


This is the VOA Special English Economics Report.

President-elect Barack Obama is calling on Congress to pass an economic recovery plan in the next few weeks. He warned about the deepening recession in a speech in Virginia on Thursday, less than two weeks before he takes office.

BARACK OBAMA: "Now, 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. If nothing is done, this recession could linger for years."

On Wednesday, the Congressional Budget Office estimated the federal budget deficit this year at one trillion two hundred billion dollars. That is almost three times the size of last year's deficit. And the estimate does not include an economic stimulus plan, like the president-elect proposes.

But Barack Obama warns that without decisive action, trillion-dollar deficits will be a reality for years to come. His proposals could cost around seven hundred seventy-five billion dollars in government spending and tax cuts over two years. Some economists think the plan needs to provide as much as one trillion dollars or more to be effective.

Forty percent of the plan could come in the form of tax cuts. That provision is partly an effort to gain support from Republicans.

BARACK OBAMA: "Now I understand that some might be skeptical of this plan. Our government has already spent a good deal of money but we haven't yet seen that translate into more jobs, or higher incomes or renewed confidence in our economy. And that's why the American Recovery and Reinvestment Plan won't just throw money at our problems. We'll invest in what works."



Mister Obama says the plan should save or create at least three million jobs over the next few years, mostly in private industry. It includes money for needed repairs to roads and bridges. But it would also invest in clean energy, health care and education.

Mister Obama says his team is beginning discussions with members of Congress about how to deal with the deficit and control federal spending. He has to present his first budget proposal to Congress early next month.

He says the emergency legislation he proposes must be free of special-interest spending projects. His plan will "help struggling states avoid harmful budget cuts," he says. But he added that they must use the money to support services like police, fire, education and health care. He promises to show, online, where taxpayer money is being spent.

On Wednesday he named Nancy Killefer to a new White House position -- chief performance officer. She is a former assistant Treasury secretary currently at the management consulting company McKinsey. A big part of her job will be to look for ways to cut government waste.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember

----------------------------Google Translate

奥巴马： '如果不采取任何行动，这衰退可能余辉多年'
当选总统敦促国会采取行动'' ''戏剧性的经济复苏计划，尽快。誊广播：
2009年1月8日


这是美国之音特别英语经济学报告。

当选总统奥巴马呼吁国会通过的经济复苏计划在未来数周内。他警告说，对深化经济衰退的讲话中日在弗吉尼亚州，不到两周的时候，他的职务。

奥巴马说： “现在，我不认为为时已晚改变方向。但是，这将是如果我们不采取重大行动，尽快。如果不采取任何措施，这种衰退可能持续数年。 ”

周三，美国国会预算办公室估计，联邦预算赤字在今年一万点零零零亿2000.00亿美元。这是近3倍的规模去年的赤字。与估计数不包括经济刺激计划，如当选总统提议。

但奥巴马说，如果不采取果断行动，万亿美元的赤字将是一个现实的未来的几年。他的建议可能会花费大约七千七百五十〇点零亿美元的政府开支和减税超过两年。一些经济学家认为，该计划需要提供高达1万亿美元或更多的是有效的。

百分之四十的计划可能会为形式的减税。这一规定的部分努力争取支持共和党。

奥巴马说： “现在我的理解是，一些国家可能受到怀疑这一计划。我国政府已花费了大量的钱，但我们还没有看到，转化为更多的就业机会，或更高的收入或新的信心在我们的经济。而且这就是为什么美国的恢复和再投资计划将不只是投钱，我们的问题。我们会投资于什么作品。 “



奥巴马先生说，该计划应保存或创建至少3万个就业岗位在未来几年中，主要集中在私营工业。它包括资金需要修理道路和桥梁。但是，它也将投资于清洁能源，保健和教育。

先生奥巴马说他的团队已经开始讨论与美国国会议员有关如何解决赤字和控制联邦开支。他提出他的首份财政预算案建议国会下个月初。

他说，紧急状态法，他建议必须是免费的特殊利益的开支项目。他计划将“有助于避免有害的挣扎国削减预算， ”他说。但是他补充说，他们必须用这笔钱，以支持服务，如警察，消防，教育和卫生保健。他承诺显示，网上，在纳税人的钱是花在。

昨天，他任命南希Killefer到一个新的白宫的立场-首席性能官。她是前助理财政部长在目前的管理咨询公司麦肯锡。一个大的一部分，她的工作将是寻求新的方式来减少政府的浪费。

，这是美国之音特别英语经济学报告撰写的马里奥斯科特里特。我史蒂夫余烬