Obama urges bold action on economy

(01:36) Report

Jan. 8 - President-elect Barack Obama warned of a lengthy recession without decisive action and passage of a massive fiscal stimulus program.

Obama -- who hopes to secure passage of the economic plan by mid-February --acknowledged that the economy is likely to get worse and the U.S. could face trillion-dollar deficits for years to come. Jon Decker reports.

SOUNDBITES: President-elect Barack Obama

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