Democrats Say Economy Will Continue Slide, Even With Big Infusion Of Aid

By: Associated Press
By: Associated Press

WASHINGTON (AP) -- Don't expect a quick fix to the nation's economic problems.

That's the warning being sounded by White House officials and Democratic leaders appearing on the Sunday news shows. They say the economy probably will worsen before it improves, even with major government intervention.

Lawrence Summers, a top economic adviser to President Barack Obama, appeared on NBC's "Meet the Press." He said the economy's problems "weren't made in a day or a week or a month or even a year, and they're not going to get solved that fast."

Vice President Joe Biden told CBS' "Face the Nation" that "there's no good news on the immediate horizon," except that Obama has acted quickly.

Congress is working on an $825 billion economic recovery package that dedicates about two-thirds to new government spending and the rest to tax cuts. The Obama administration has pledged to spend three-quarters of the proposed money in the first 18 months after it's approved.

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