White House Blog: First compromise, then impact (plus Obama's statement)

[ProSense]

Wednesday, February 11th, 2009 at 8:03 pm

First compromise, then impact

So we're on our way. Democrats and Republicans, House members and Senators, they all got together in conference and brought the House and Senate versions of the bill from 90% alike to 100%.

"I want to thank the Democrats and Republicans in Congress who came together around a hard-fought compromise that will save or create more than 3.5 million jobs and get our economy back on track," the President said in an official statement.

In the course of negotiations, the President made clear that he was disappointed in some of the changes from his original proposal, but he has also made clear that saving and creating jobs is the most urgent priority and that Congress can return to other issues down the line. And some of those jobs might come even before the money starts flowing -- simply from the idea that help is on the way.

The President announced today, for example, that the CEO of an iconic American manufacturer, Caterpillar, would rehire some of the 20,000 workers who were recently laid off if the recovery package were passed.

But CAT’s not alone. The Denver Business Journal reported a few days ago that, "Telecommunications companies fore-see putting thousands of construction workers to work this year expanding the nation’s broadband infrastructure, fueled by the federal economic stimulus package." The Business Review Western Michigan describes how 85% of contractors could either hire new workers or avoid layoffs if the plan is passed. Even Google CEO Eric Schmidt said the company would "absolutely" hire new employees if the stimulus passes.

The same is true for local governments, which are likely to keep or add thousands of employees -- including police. "If you can use new police to stabilize a neighborhood, consolidate crime-reduction gains, then you can have a considerable impact on the local economy," Chuck Wexler, the executive director of the Police Executive Research Forum, told the New York Times.

Wednesday, February 11th, 2009 at 12:00 am

Statement on Recovery and Reinvestment Act Agreement

THE WHITE HOUSE

Office of the Press Secretary

________________________________________________________
For Immediate Release
February 11, 2009

Below is a statement from President Obama:

"I want to thank the Democrats and Republicans in Congress who came together around a hard-fought compromise that will save or create more than 3.5 million jobs and get our economy back on track. Just today, the CEO of Caterpillar said that if this American Recovery and Reinvestment Plan is passed, his company would be able to rehire some of the employees they’ve been forced to lay off. It’s also a plan that will provide immediate tax relief to families and businesses, while investing in priorities like health care, education, energy, and infrastructure that will grow our economy once more. 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," said President Obama.

[Cha]

1. I hope those "disappointments" are

met with future success and Good Luck on the current Stimulus Bill.

[firedupdem]

2. I hope things start to turn around. This is a big step in the right

direction. So many people are struggling and the jobless numbers continue to rise. Let's hope this money gets moving and it gets some of us back to work.

[wildflower]

3. Edit: never mind, I'm wrong and/or broadband got put back in...

Per this thread: http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=8190559&mesg_id=8190559

Which includes this paragraph:

INFRASTRUCTURE

_ $46 billion for transportation projects, including $27 billion for highway and bridge construction and repair; $8.4 billion for mass transit; $8 billion for construction of high-speed railways and $1.3 billion for Amtrak; $4.6 billion for the Army Corps of Engineers; $4 billion for public housing improvements; $6.4 billion for clean and drinking water projects; $7 billion to bring broadband Internet service to underserved areas.

(Previously, I had been saying I thought broadband expansion had been taken out, and I was questioning this:

But CAT’s not alone. The Denver Business Journal reported a few days ago that, "Telecommunications companies fore-see putting thousands of construction workers to work this year expanding the nation’s broadband infrastructure, fueled by the federal economic stimulus package.")