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.
During his first weekly broadcast address as president today (Saturday), Mr. Obama says he understands why some are skeptical about the size and scale of the 825-billion dollar package.
However, Mr. Obama warned that if nothing is done, the unemployment
rate could reach double digits and the economy could fall one-trillion
dollars short of its capacity.
President 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.
In the 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.
Mr. 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 recovery-dot-gov.