U.S. President Barack Obama is assuring skeptics that his massive
economic stimulus plan will not just throw money at the nation's
problem, but invest in programs that work to remake America.
his first weekly broadcast address as president Saturday, Mr. Obama
says he understands why some are skeptical about the size and scale of
the $825 billion package.
However, Mr. Obama warned that if
nothing is done, the unemployment rate could reach double digits and
the economy could fall $1 trillion short of its capacity.
Obama says members of both parties in Congress are still working to
improve and refine the package, the American Recovery and Reinvestment
Plan, which he hopes to sign into law within a month.
Republican's response, Congressman John Boehner says the way to jump
start the economy is through fast-acting tax relief, not through what
he called "slow-moving government programs."
Boehner says Republican leaders presented their ideas to Mr. Obama during a bi-partisan meeting at the White House on Friday.
Obama says his stimulus plan will save or create three to four millions
jobs and invest in the nation's top priorities, such as creating clean
and alternative energy, reforming healthcare, improving education, and
rebuilding the nation's infrastructure.
Mr. Obama is also
vowing to maintain transparency. He says Americans will be able to see
how taxpayer dollars are being spent by going to a new Web site called
Some information for this report was provided by AP and Reuters.