By: President Barack Obama is warning that failure to act on an economic recovery package could lead to a recession that lasts for years and could be irreversible.
In a column editorial in Thursday's edition of The Washington Post, the president said each day that the nation waits on fixing the economy, more jobs, savings and homes are lost. He said his economic stimulus plan, which now exceeds $900 billion, is not just a short-term fix. He called it a strategy for the country's long-term growth.
Congressional Republicans have criticized the plan as too expensive and lacking enough tax cuts.
Obama said the nation resoundingly voted for change last November and the time to act is now. Otherwise, the country could sink deeper into an economic crisis that "we may not be able to reverse."
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