In a major policy speech today, President-elect Barack Obama said he wanted “dramatic action” from Congress on his stimulus package as soon as possible. He described the cost as “considerable.”

“Barack Obama says failure to act quickly on his economic plan would have devastating consequences,” CNN reports.

” ‘If nothing is done, this recession could linger for years. The unemployment rate could reach double digits,’ he said. ‘In short, a bad situation could become dramatically worse.’ “

You can read CNN’s story here.