The story

President Obama warned Wednesday that failure to act immediately on his economic aid plan "will turn crisis into a catastrophe and guarantee a longer recession."

"Millions more jobs will be lost. More businesses will be shuttered. More dreams will be deferred," Obama said, as Senate debate continued on amendments to the stimulus package.

The House last week passed an $819 billion version of the plan, but no Republican voted in favor of it. The president has been trying to gain Republican support before the Senate votes on its version of the bill. Read full article »

CNN's Brianna Keilar and Kristi Keck contributed to this report.

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