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Obama Ponders Stimulus Change

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The Associated Press

Published: January 4, 2009

CHICAGO - President-elect Barack Obama urged congressional leaders Saturday to move quickly on an economic recovery plan, even as some Republicans are saying they want more time to review the details.

Obama said Congress should pass an American Recovery and Reinvestment Plan designed to create 3 million jobs. The Democratic president-elect hasn't announced a final price tag on it, but aides said the cost could be as high as $775 billion.

"For too many families, this new year brings new unease and uncertainty as bills pile up, debts continue to mount and parents worry that their children won't have the same opportunities they had," Obama said in an address taped Friday and distributed on radio and posted on YouTube on Saturday morning.

As part of the plan, Obama and congressional Democrats are considering major expansions of government-assisted health care insurance and unemployment compensation as they begin intensive work this week on a two-year economic recovery package.

One proposal, as described by Democratic advisers, would extend unemployment compensation to part-time workers, an idea that congressional Republicans have blocked in the past.

Other policy changes would subsidize employers' expenses for temporarily continuing health insurance coverage to laid-off and retired workers and their dependents, as mandated under a 22-year-old federal law known as COBRA, and allow workers who lose jobs that did not come with insurance benefits to be eligible, for the first time, to apply for Medicaid coverage.

House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., are to receive details on Monday. Obama plans meetings next week with other congressional leaders - including Republican members whose support he will need - and made an effort not to blame his predecessor.

"However we got here, the problems we face today are not Democratic problems or Republican problems," Obama said. "The dreams of putting a child through college, or staying in your home, or retiring with dignity and security know no boundaries of party or ideology.

The House is not expected to vote until next week at the earliest, which likely will push final action into February, Democratic aides said.

The drafting of a two-year plan is being done by a small group of Obama advisers and Cabinet designees.

Information from The New York Times was used in this report. Keyword: Obama address to view Obama's address to the nation as it appeared on YouTube.

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