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| Obama warning on stimulus delays | Obama warning on stimulus delays |
| (10 minutes later) | |
| President Barack Obama has urged Congress to pass his $800bn (£541bn) stimulus plan, warning that delaying it would worsen a "full-blown crisis". | President Barack Obama has urged Congress to pass his $800bn (£541bn) stimulus plan, warning that delaying it would worsen a "full-blown crisis". |
| In his first White House prime-time news conference, Mr Obama said only government could break the vicious cycle crippling the US jobs market. | In his first White House prime-time news conference, Mr Obama said only government could break the vicious cycle crippling the US jobs market. |
| He said his plan would create up to 4m jobs and help jump-start the economy. | He said his plan would create up to 4m jobs and help jump-start the economy. |
| The House of Representatives has already approved the plan and the Senate is due to vote later on Tuesday. | The House of Representatives has already approved the plan and the Senate is due to vote later on Tuesday. |
| The version approved by the House differs from that being discussed in the Senate, and the two chambers will have to agree on a single final version. | The version approved by the House differs from that being discussed in the Senate, and the two chambers will have to agree on a single final version. |
| The Senate voted 61-36 on Monday to end its debate, paving the way for a final vote on the Senate's version of the bill on Tuesday. | The Senate voted 61-36 on Monday to end its debate, paving the way for a final vote on the Senate's version of the bill on Tuesday. |
| Mr Obama stressed that approval of the plan was extremely urgent, as the present crisis was unlike any other faced by the US for 60 years. | Mr Obama stressed that approval of the plan was extremely urgent, as the present crisis was unlike any other faced by the US for 60 years. |
| "The federal government is the only entity left with the resources to jolt our economy back to life," he said. | "The federal government is the only entity left with the resources to jolt our economy back to life," he said. |
| 'Delay and paralysis' | 'Delay and paralysis' |
| Earlier, the US president gave his first public speech on the plan in Indiana - a state hit hard by the economic crisis. | Earlier, the US president gave his first public speech on the plan in Indiana - a state hit hard by the economic crisis. |
| We can't posture and bicker and resort to the same failed ideas that got us in into this mess in the first place US President Barack Obama | |
| At the town hall-style meeting in Elkhart, Indiana, Mr Obama conceded that the stimulus plan was "not perfect" but insisted it could help create jobs and "jump-start" the economy. | At the town hall-style meeting in Elkhart, Indiana, Mr Obama conceded that the stimulus plan was "not perfect" but insisted it could help create jobs and "jump-start" the economy. |
| "I can't tell you with 100% certainty that every single item in this plan will work exactly as we hoped," he said. | "I can't tell you with 100% certainty that every single item in this plan will work exactly as we hoped," he said. |
| "But what I can tell you is... that endless delay and paralysis in Washington, in the face of this crisis, will only bring deepening disaster. | "But what I can tell you is... that endless delay and paralysis in Washington, in the face of this crisis, will only bring deepening disaster. |
| "We can't posture and bicker and resort to the same failed ideas that got us in into this mess in the first place." | "We can't posture and bicker and resort to the same failed ideas that got us in into this mess in the first place." |
| Mr Obama is due to appear in Fort Myers, Florida, on Tuesday, and Peoria, Illinois, on Thursday. Like Elkhart, both are cities that have been badly affected by the economic downturn. | Mr Obama is due to appear in Fort Myers, Florida, on Tuesday, and Peoria, Illinois, on Thursday. Like Elkhart, both are cities that have been badly affected by the economic downturn. |
| A Gallup poll suggests 67% of Americans approve of the president's efforts to pass a stimulus package. | A Gallup poll suggests 67% of Americans approve of the president's efforts to pass a stimulus package. |
| The same poll found much lower support for the two parties in Congress, with the Democrats receiving a 48% approval rating and the Republicans 31% for their handling of the situation. | The same poll found much lower support for the two parties in Congress, with the Democrats receiving a 48% approval rating and the Republicans 31% for their handling of the situation. |
| Jobs push | Jobs push |
| Earlier Larry Summers, head of the White House's national economic council, used television interviews to argue for speedy approval. | |
| 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 differences over how to expand the federal medical programme, Medicaid, and on spending priorities. | The House and Senate measures are largely similar, but there are differences over how to expand the federal medical programme, Medicaid, and on spending priorities. |
| While the House bill would give more money to schools, local governments and individual states, the Senate bill devotes more resources to tax cuts. | While the House bill would give more money to schools, local governments and individual states, the Senate bill devotes more resources to tax cuts. |
| 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 from 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 from 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. |