President-elect Barack Obama: US economy will continue on its downward path

The US President-elect Barack Obama made it clear yesterday that the US economy would continue to worsen, but he had little to say in his television interview about the cost to the US taxpayer regarding his rescue plan, he also declined to comment if his intentions were to raise taxes for the rich American to help pay for it.

Barack Obama said “number crunching” was still in progress with his economic advisors in relation to the post-inauguration economic stimulus package. However, Obama did say that several infrastructure projects including a massive public-works program to build roads were to be included in his package.

Although the US President-elect hinted that the economy may not strengthen quickly enough after his major stimulus plan is put into action.

He also talked of the unemployment figures that are the highest in 15 years, telling NBC that the economy will get worse.

Source: Baltimoresun