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Talk Isn't Cheap

This column was written by CBS News Early Show Co-Anchor Harry Smith.


Remember the urgency of now? President-elect Obama tried to let lawmakers and everyone else know that time is of the essence when it comes to jumpstarting America's stalled economy.

In his speech at George Mason University Thursday, he effectively started to take the reins of power from still president George Bush.

Obama has said over and over again that there is only one president at a time, but as of that speech, he basically said, "We can't wait that long."

As details have come available, so has the criticism. The $3,000 bonus to employers for making new hires, the tax rebates and the infrastructure jobs are all are up for debate.

And the question becomes, how long will Congress wrangle over the particulars?

If President-elect Obama is correct and time is so critical, does that mean that we are at a tipping point? When does a recession turn into a depression?

Congress should keep that in mind. Yes, they want their say. Perhaps talk is not cheap. It may be very costly.

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