Obama's Economic Plan in Congress

January 29, 2009 12:00:00 AM PST
President Obama's plan to revive the economy is making its way through congress, but republicans are still giving it a thumbs down. President Barack Obama will get another shot at a bipartisan stimulus bill in the senate. But last night in the House of Representatives, party lines were drawn.

"We're not simply criticizing; we're putting out alternatives to show how and why we should do better. If this were a bipartisan effort, we could have had a better outcome," said Rep. Paul Ryan (R) Wisconsin.

The $819-billion-dollar stimulus legislation passed in the house.

"We are moving the ship of state in a new direction," said House Speaker Nancy Pelosi.

But eleven democrats broke rank with their party and not a single Republican voted for it.

"It's merely a wish list of long-standing liberal democratic priorities," said Rep. Mike Pence (R) Indiana.

While this political fight in Washington continues, thousands of Americans throughout the country are losing their jobs. Starbucks, Best Buy, and Boeing are the latest companies to announce layoffs, with the world's second largest airplane manufacturer saying it would slash ten-thousand jobs.

Three experts ABC spoke with support this legislation, saying what the economy needs is a shot in the arm of government money that will quickly be spent.

They give a high marks to programs that would increase food stamps, extend unemployment insurance, and offer aid to states facing big budget shortfalls. Now the bill moves to the senate.

"Let's not stop after the third inning and tell us who won in the ninth. It's a long process," said White House Spokesman Robert Gibbs.

The senate's version of the bill is even bigger and could top $900-billion-dollars. President Obama hopes to have final legislation ready to sign by mid-February.

-----------------------------------------------------------------------------------------------


abc30 News Links:
Links to other news sections on our website.

-----------------------------------------------------------------------------------------------

Breaking News Alerts:
Click Here to Sign-Up for Breaking News E-Mail Alerts
Receive Breaking News alerts in your email inbox.


Click Here to Sign-Up for Text Message Alerts
Receive Breaking News alerts right on your cell phone.


-----------------------------------------------------------------------------------------------

Load Comments