President-elect Barack Obama called early Saturday for urgent action to prop up the flagging US economy and stop the hemorrhage of jobs, arguing that there was not "a moment to lose." In his first weekly radio address since his decisive election victory last Tuesday, the Illinois Democrat said he wanted to reassure Americans that his administration would "hit the ground running on January 20th because we don't have a moment to lose." He argued that while the administration of President George W. Bush and Congress had taken steps to prop up the struggling financial sector and other parts of the economy, the United States "will need further actions during this transition and subsequent months." "First, we need a rescue plan for the middle class that invests in immediate efforts to create jobs and provides relief to families that are watching their paychecks shrink and their life savings disappear," the president-elect said.