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Obama to urge speed on stimulus Obama to urge speed on stimulus
(about 3 hours later)
President Barack Obama is set to renew calls on Congress to speed up the passage of his economic stimulus plan when he makes two speeches later. US President Barack Obama is to take his economic stimulus plan to the public, in a bid to boost support for it amid stalling in Washington.
Although the House of Representatives has already approved the plan, and the Senate is expected to do so by Tuesday, their versions of the bill now differ.Although the House of Representatives has already approved the plan, and the Senate is expected to do so by Tuesday, their versions of the bill now differ.
The two Congress houses will have to agree on a single final version. Mr Obama will give a public speech on the plan in Indiana, a state hit hard by the country's economic crisis.
President Obama says his package, which may come to $900bn (£612bn), is "absolutely necessary" for the economy. He is also due to give his first presidential news conference later.
His is to set to renew his calls on Congress to agree the plan as quickly as possible at both a speech in Indiana, and at his first presidential news conference at the White House. His Indiana destination is a town hall-style meeting in Elkhart, and after returning to Washington for the White House primetime press conference, he will appear in Fort Myers, Florida, on Tuesday.
The president is to set to renew his call for Congress to agree the plan as quickly as possible.
He says his package, which may come to $900bn (£612bn), is "absolutely necessary" for the economy.
The two houses of Congress will have to agree on a single final version.
Jobs pushJobs push
One of the president's top advisers, Larry Summers, has already used television interviews to remind politicians of the need for haste.One of the president's top advisers, Larry Summers, has already used television interviews to remind politicians of the need for haste.
There are respects in which both bills can surely be improved Larry Summers, presidential advisorThere are respects in which both bills can surely be improved Larry Summers, presidential advisor
"The president feels that... we need a major programme enacted very quickly that will create three to four million jobs," Larry Summers told ABC TV."The president feels that... we need a major programme enacted very quickly that will create three to four million jobs," Larry Summers told ABC TV.
Mr Summers is head of the White House's national economic council.Mr Summers is head of the White House's national economic council.
Speaking on ABC's This Week programme, Mr Summers said: "The most important thing is that people come together and create the three to four million jobs."Speaking on ABC's This Week programme, Mr Summers said: "The most important thing is that people come together and create the three to four million jobs."
He added that there was "90% overlap" between the two versions of the bill now in Congress, and "we've got to get closure on the last 10%".He added that there was "90% overlap" between the two versions of the bill now in Congress, and "we've got to get closure on the last 10%".
"There are certainly good ideas in both versions and we'll have to draw from those ideas in creating an ultimate vehicle," he said."There are certainly good ideas in both versions and we'll have to draw from those ideas in creating an ultimate vehicle," he said.
The House and Senate measures are largely similar, but there are some differences over how to expand the federal medical assistance programme, Medicaid, and over certain tax issues.The House and Senate measures are largely similar, but there are some differences over how to expand the federal medical assistance programme, Medicaid, and over certain tax issues.
'Forthright''Forthright'
US lawmakers will have to combine the two bills and have a finished version ready by the president's deadline of 16 February.US lawmakers will have to combine the two bills and have a finished version ready by the president's deadline of 16 February.
"There are respects in which both bills can surely be improved," said Mr Summers."There are respects in which both bills can surely be improved," said Mr Summers.
The former Treasury secretary added that a "large, forthright" approach was needed, with more support for education state and local governments to ward off a potentially downward spiral.The former Treasury secretary added that a "large, forthright" approach was needed, with more support for education state and local governments to ward off a potentially downward spiral.
New US employment figures were released on Friday showing that nearly 600,000 jobs were lost in January, pushing the unemployment rate to 7.6% - its highest in 17 years.New US employment figures were released on Friday showing that nearly 600,000 jobs were lost in January, pushing the unemployment rate to 7.6% - its highest in 17 years.