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Obama urges quick economic action Obama urges quick economic action
(about 19 hours later)
US President Barack Obama has called for urgent action on his $825bn (£586bn) economic recovery plan, saying the American people expect it.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.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".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 Obama diary: The first 100 days class="" href="/1/hi/business/7748874.stm">Timeline: US government bail-outs "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 Obama diary: The first 100 days
"In some cases they may just not be as familiar with what's in the package as I would like."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.""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.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 main message I have is that the statistics every day underscore the urgency of the economic situation.
"The American people expect action.""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."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:
  • More than 3,000 miles of new electricity transmission lines would be laid down to improve the US power network
  • 75% of public sector buildings would be made more energy-efficient, saving taxpayers $2bn a year
  • More than 2.5m homes would be "weatherized" (made more energy efficient)
  • Funds would be made available to improve or renovate 10,000 schools
He has described the US as being "in the midst of an unprecedented crisis" and has announced:
  • More than 3,000 miles of new electricity transmission lines would be laid down to improve the US power network
  • 75% of public sector buildings would be made more energy-efficient, saving taxpayers $2bn a year
  • More than 2.5m homes would be "weatherized" (made more energy efficient)
  • Funds would be made available to improve or renovate 10,000 schools
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".