Obama Pitch: We're Doomed Without Stimulus

Barack Obama went for the hard sell today, making the case for his huge stimulus plan. “I don't believe it's too late to change course,” Obama said in a speech at George Mason University, “but it will be if we don't take dramatic action as soon as possible.” Unemployment could hit the double digits, as we “lose a generation” of prosperity.

Critics are already balking at the immense deficit spending Obama’s plan would require, and noting the scant results earlier packages have had. Obama conceded that point, promising “an unprecedented effort to eliminate unwise spending,” and a stimulus that “won’t just throw money at our problems—we’ll invest in what works.” Obama didn't give any details on those investments however; aides say he's waiting until Congress has finished hashing out the plan.