ARI SHAPIRO, host:
NPR's business news starts with a fresh appeal from the president-elect.
(Soundbite of music)
SHAPIRO: President-elect Barack Obama says the economy is in desperate shape and needs immediate attention.
President-elect BARACK OBAMA: Nearly two million jobs have been now lost. And on Friday we're likely to learn that we lost more jobs last year than at any time since World War II. Just in the past year, another 2.8 million Americans who want and need full-time work have had to settle for part-time jobs. Manufacturing has hit a 28-year low.
SHAPIRO: Mr. Obama spoke this hour at George Mason University in Virginia. He made another pitch for a new economic stimulus package, saying it will save three million jobs and lay the foundation for America's economic future.
President-elect OBAMA: And that's why we'll invest in priorities like energy and education, health care and a new infrastructure that are necessary to keep us strong and competitive in the 21st century. That's why the overwhelming majority of the jobs created will be in the private sector, while our plan will save the public sector jobs of teachers, police officers, firefighters, and others who provide vital services.
SHAPIRO: Some experts say the plan could cost more than three-quarters of a trillion dollars. The president-elect could face resistance from Congress. Lawmakers are already voicing concerns about the ballooning deficit.
President-elect OBAMA: There is no doubt that the cost of this plan will be considerable. It will certainly add to the budget deficit in the short term. But equally certain are the consequences of doing too little or nothing at all, for that will lead to an even greater deficit of jobs, incomes, and confidence in our economy.
SHAPIRO: There are still 12 days until Mr. Obama takes over at the White House, and his speech today was aimed at laying the groundwork for a major initiative early in his presidency.