Obama Warns of Recession, Demands Action

April 4, 2008

The latest unemployment figures show the nation is "sliding into recession," Democrat Barack Obama said Friday, as he argued he has been the most aggressive presidential candidate in seeking remedies.

His rival Hillary Rodham Clinton said in a written statement: "Perhaps this jobs report will also help John McCain recognize that doing nothing is not an economic strategy in times of urgent need."

The unemployment rate jumped to 5.1 percent in March, the Labor Department reported Friday.

At a town hall meeting in Fort Wayne, Ind., Obama joined Clinton in deriding the response from McCain. He said the Republican presidential nominee-in-waiting simply wants to stand on the sidelines and watch the housing crisis unfold.

McCain, in turn, said in a written statement that "it is essential to reduce the burdens on businesses and workers by lowering taxes, streamlining regulation, tackling health care costs, opening markets to American goods and helping those workers in need."

He said Democratic proposal would hamper economic growth.

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