US: Biden warns economy in danger of "absolutely tanking"
21 Dec 2008 11:45 AM
WASHINGTON, Dec 20 DPA - Vice president-elect Joe Biden has warned in a television interview that the US economy is in danger of "absolutely tanking".
"The economy is in much worse shape than we thought it was in," Biden told ABC News in an interview that aired on Sunday. He called for an economic stimulus package of $US600 billion ($A879 billion) to $US700 billion ($A1.03 trillion).
"There is no short run other than keeping the economy from absolutely tanking. That's the only short run," Biden said according to excerpts made public before the broadcast.
He said the economy will be the top priority for the Obama administration during its first year.
