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| Obama urges quick economic action | |
| (about 4 hours later) | |
| US President Barack Obama has called for urgent action on his $825bn (£586bn) economic recovery plan, saying the American people expect it. | |
| Republican lawmakers are increasingly vocal in opposing the bill, complaining it is too expensive and unworkable. | Republican lawmakers are increasingly vocal in opposing the bill, complaining it is too expensive and unworkable. |
| Amid talks with congressional Republicans to try to persuade them to accept the plan, he said he did not expect 100% agreement from them. | |
| But Mr Obama appealed to them to "put politics aside". | |
| The president hopes his plan could clear Congress by mid-February. | The president hopes his plan could clear Congress by mid-February. |
| "There are some legitimate philosophical differences with parts of my plan that the Republicans have, and I respect that," Mr Obama said. The American people expect action President Barack Obama class="" href="/1/hi/world/americas/7834460.stm">Obama diary: The first 100 days class="" href="/1/hi/business/7748874.stm">Timeline: US government bail-outs | |
| "In some cases they may just not be as familiar with what's in the package as I would like. | |
| "I don't expect 100% agreement from my Republican colleagues, but I do hope that we can all put politics aside and do the American people's business." | |
| He spoke to reporters after meetings with House of Representatives Republicans and before another meeting with senators. | |
| "The main message I have is that the statistics every day underscore the urgency of the economic situation. | |
| "The American people expect action." | |
| Republican House leader John Boehner said after the Obama meeting: "I think we both share a sincere belief that we have to have a plan that works." | |
| Republicans lack the votes to defeat the stimulus bill on their own, but could slow its progress, especially in the Senate. | Republicans lack the votes to defeat the stimulus bill on their own, but could slow its progress, especially in the Senate. |
| 'Unprecedented crisis' | |
| Any decision will fall to the new Treasury Secretary Timothy Geithner, who was sworn in on Monday, with the task of trying to get the US economy back in shape. | Any decision will fall to the new Treasury Secretary Timothy Geithner, who was sworn in on Monday, with the task of trying to get the US economy back in shape. |
| President Obama has said his administration will be held accountable for the success or failure of his stimulus plan. | President Obama has said his administration will be held accountable for the success or failure of his stimulus plan. |
He has described the US as being "in the midst of an unprecedented crisis" and has announced:
| He has described the US as being "in the midst of an unprecedented crisis" and has announced:
|
| Other proposals include tax credits for firms that create jobs, tax cuts for 95% of American workers and extended unemployment benefits. | Other proposals include tax credits for firms that create jobs, tax cuts for 95% of American workers and extended unemployment benefits. |
| The president has pledged the plan "will save or create three to four million jobs over the next few years". | The president has pledged the plan "will save or create three to four million jobs over the next few years". |