Obama: Country needs economic stimulus plan
CHICAGO — President-elect Barack Obama on Saturday urged congressional leaders 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 distributed on radio and posted on YouTube Saturday morning.
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.
Obama aides had hoped to have an economic plan approved by the House and Senate before he takes office. That timeline, though, appears unlikely as time is running out and Republicans have urged a delay to review the plans.
