"This is not your ordinary run of the mill recession," Obama said. "We undergoing the greatest economic crisis since the Great Depression."
He said the economy could "lose $1 trillion in demand and another trillion next year," if massive amounts of tax dollars are not spent on government projects.
Obama said he would continue to make overtures to Republicans in the days ahead but admitted he was frustrated with their opposition. "When I hear from folks who presided over a doubling of national debt, I would like them not to engage in revisionist history."