Obama: Economic Crisis `Continuing Disaster`

`The recession is deepening and the urgency of our economic crisis is growing,` Obama told a gathering at the White House.

Warning that the U.S. economic crisis was a "continuing disaster" for American families, U.S. President Barack Obama called on Friday for the quick passage of his more than $800 billion economic stimulus package.

"The recession is deepening and the urgency of our economic crisis is growing," Obama told a gathering at the White House. "Yesterday we reached a new threshold: The highest number of Americans receiving unemployment benefits on record."

"Every day it seems there is another round of layoffs, another rounds of jobs lost and families lives turned upside down," Obama said. "This is a continuing disaster for America's families."