President-elect Barack Obama has called for an economic stimulus package in stark terms, but can his cautionary words and economic plan be effective amidst widespread unemployment and incredibly bleak retail sales? Maya MacGuineas, Director of New America Foundation's Fiscal Policy Program, and Jamie Jones, a reporter for the Dalton, Georgia Daily Citizen, join John to continue our economic roundtable.

Listen to part one of our economic roundtable.

In case you missed the President-elect's speech, here it is courtesy of AP/Youtube.

Today the unemployment numbers for December will be released. The projections are grim: economists expect unemployment rates to rise to a 15-year high of 7.0 percent. This is a reality that President-elect Obama did not sugarcoat yesterday when he addressed the nation and it’s economic forecast. In the first major speech since he won the election, Barack Obama acknowledged the unemployment crisis and stressed the urgency of passing a robust economic stimulus package. Joining us to discuss the ailing economy, the unemployment crisis, and Obama’s approach to both, is Kelly Evans, a reporter for The Wall Street Journal, Christopher Hayes, the Washington Editor of The Nation, and entrepreneur Jim Svetz.

Don't miss part two of our economic roundtable.

UPDATE 8:47 a.m. ET: Unemployment rose to 7.2 percent in December 2008. Listen to The Takeaway's coverage.

President-elect Obama kicked off the week on Capitol Hill, pitching his economic stimulus plan. It’s a plan that leading Democrats are eager to have signed first thing on January 20th. To jump-start the stimulus debate, House Democrats are holding a number of informal hearings, starting today. Mark Zandi, Chief Economist for Moody’s, will be among the many experts who are testifying today. He joins us now for a preview of what he will say on the Hill.

For more on Mark Zandi's take on the economic crisis, buy his book Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis.

President-elect Barack Obama is preparing to present a stimulus package to the country. Yesterday he warned the nation that between the bailout plans and the stimulus packages, it is likely we could see a multi-trillion dollar deficit. Today the Congressional Budget Office is set to release it’s latest budget estimates. To go over the numbers, The Takeaway is joined from Washington, D.C. by New York Times reporter Jeff Zeleny.

If you want more on this topic, read Jeff Zeleny's article Obama Warns Trillion-Dollar Deficit Potential in the New York Times.

States around the country are facing billions in budget shortfalls, with cuts to education, health care, and infrastructure already on the books.

Faced with the same economic crisis currently gripping the rest of the globe, Britain has unveiled an economic stimulus plan of its own, with some striking similarities and differences compared to the American plan. The U.K. package offers cuts in the sales tax to spur spending among middle and low-income earners and raises the tax rate on the wealthy. The Takeaway also examines the short and long-term implications of President-elect Obama's recently-announced stimulus plan.