<![CDATA[Obama Discusses Tax Cut On First Day Back: Wants $500 Tax Cut For Most Workers (SLIDESHOW) (VIDEO)]]>

1.0 link 155317 <![CDATA[Obama Discusses Tax Cut On First Day Back: Wants $500 Tax Cut For Most Workers (SLIDESHOW) (VIDEO)]]> http://www.huffingtonpost.com/2009/01/05/obama-tax-cut-wants-500-t_n_155317.html Scroll down for video

WASHINGTON - President-elect Barack Obama declared the national economy was "bad and getting worse" Monday as he began crisis talks with congressional leaders on emergency action. He predicted lawmakers would approve hundreds of billions of dollars in new spending and tax cuts within two weeks of his taking office.

"The economy is very sick," Obama said before meeting with Senate Democratic Leader Harry Reid. "The situation is getting worse. ... We have to act and act now to...

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