[FINANCIAL CRISES: From the Depression until today]
[SURVIVAL GUIDE: Weathering the financial crisis]
In a series of network television interviews, the president said the short-term outlook is bleak.
He told CNN that even three months ago, most economists would not have predicted the economy was "in as bad of a situation as we are in right now."
There is "no magic bullet," he told Fox News. But he says that working with Congress on his economic package, "we are closer to getting it right."
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