TBO.com - TBO is Tampa Bay Online

Obama Makes Case For Stimulus

ADVERTISEMENT

The New York Times

Published: January 25, 2009

WASHINGTON - President Barack Obama, seeking to broaden the appeal of his signature initiative, said Saturday that a proposed $825 billion package of spending programs and tax breaks is critical not only to turn around the economy but also to rebuild the nation for a new era.

In his weekly video address, Obama made the case that the package would help students go to college, protect workers from losing health care, lower energy bills and modernize schools, roads and utilities.

"This is not just a short-term program to boost employment," Obama said. "It's one that will invest in our most important priorities like energy and education, health care and a new infrastructure that are necessary to keep us strong and competitive in the 21st century."

The speech was part of a campaign by the White House to build momentum for the plan and propel it to passage by mid-February. The White House released a report Saturday revealing new details about the package, including:

•Health care coverage for 8.5 million people, either through a tax credit to buy coverage under COBRA provisions if they lose their jobs or through Medicaid.

•Leveraging $100 billion in private sector clean energy investments and doubling renewable energy generating capacity over three years.

•Expanding the Child Tax Credit.

•The largest weatherization program in history, making 2.5 million homes and three-fourths of federal buildings more energy efficient.

•Spending on 90 ports to beef up national security and increase trade, extending electricity transmission lines, putting 40 million "smart meters" in U.S. homes and expanding broadband access to millions of Americans.

After unveiling his plan during the address, Obama met with his economic advisers in a two-hour session in the Roosevelt Room. The group also discussed the upcoming federal budget, Obama's first chance to shape spending amid a recession that lost 2.6 million jobs last year.

Obama will visit Capitol Hill this week to talk with Republican lawmakers on their home turf.

Information from The Associated Press and McClatchy-Tribune was used in this report.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT