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Obama wins his battle for $789bn economy package
Paul Thompson in Miami12 Feb 2009
Barack Obama secured his first major victory as politicians from the House of Representatives and the Senate reached an agreement on a $789billion (£549billion) economic stimulus package.
The President is expected to sign the bill aimed at rescuing the US economy into law tomorrow, paving the way for billions of dollars in tax relief for hard-up Americans.
The stimulus package will also create up to three million jobs, amid hopes it will halt the worst recession in the US since the Thirties.
Mr Obama praised Democrats and Republicans in Congress for their "hard-fought compromise".
He said: "I'm grateful to the House Democrats for starting this process, and for members in the House and Senate for moving it along with the urgency that this moment demands."
White House aides said the President had been expecting a tougher battle as politicians from both sides had been at loggerheads over how and where the money should be spent.
But having warned in a primetime TV press conference that America faced a "catastrophe" if politicians failed to act, his words appeared to have had a galvanising effect.
Republicans and Democrats thrashed out the compromise deal in a lengthy behind-closed-doors session.
Senate majority leader Harry Reid said the final deal "bridged differences" between an $820billion House version of the bill and a $838billion Senate version.
The approved version includes help for victims of the recession in the form of unemployment benefits, food stamps and health coverage.
Billions of dollars will be directed to states to allow them to create jobs, the majority going towards improving the infrastructure.
Less than a month into his four-year term Mr Obama has staked his presidency on the stimulus package working.
Speaking in Virginia he acknowledged that he stands or falls by its success.
He said: "There are those who have expressed the opinion that we won't be able to do it, who say that this plan is too big to be implemented effectively and efficiently.
"As President, I expect to be judged - and should be judged - by the results."
Mr Obama visited a construction site in Springfield, Virginia, and said it was a perfect example of why the package must be passed.
"Look at this construction site right where we're standing," he said.
"We're surrounded by unmet needs and unfinished business - in our schools, in our roads, in the systems we employ to treat the sick, in the energy we use to power our homes.
"And that's the core of my plan: putting people to work doing the work that America needs done."
Reader views (1)
I am very concerned about people like myself who have not over spent. We live pay check to pay check just to pay our morgages, utility bills, food and our health care. We don't have money left to maintane our homes.
It seems we are the ones who seem to be bailing out the people who have gone beyond their means. It is frustrating. It just doesn't seem right. It's time these Corporate people start feeling what us simple people are feeling and have been feeling.
I don't understand why you are putting so much effort into selling homes, how about helping the ones who are trying to keep their homes. Why can't the interests rates come down a little more so we can keep our homes. It's hard to sell homes if there are no job's for these people to be able to buy homes.
It just frustrates me that the rich have all kinds of loop holes and it doesn't faze them that we are out here struggling. They just want more for less. "GREED"
My son has all kinds of medical bills that are unpaid because he doesn't have medical insurance. He has struggled for years with medical challanges.
I just needed to vent. Over all I am thankful for life and what I do have. I live one day at a time.
- Suzanne P Lemay, Biddeford Maine, 12/02/2009 14:55
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