[texprofi]

US economy a 'disaster' for American families

Saturday January 31, 2009, 7:41 am




US President Barack Obama is urging Congress to quickly pass his economic stimulus package, after the American economy shrank again.

In its worst performance in more than a quarter of a century, the American economy shrank by 3.8 per cent in the final months of 2008.

President Barack Obama says the result is a "disaster" for American families and he is urging Congress to pass his $US819 billion economic stimulus package.

"The plan that will save or create more than 3 million jobs over the next few years and make investments that will serve our economy for years to come," he said.

He has also set up a middle-class taskforce headed by Vice President Joe Biden to try to create and save American jobs.