In his first prime time press conference, President Barack Obama pushed the Economic Recovery and Reinvestment Plan as a jobs creation plan.
“That is why the single most important part of this Economic Recovery and Reinvestment Plan is the fact that it will save or create up to 4 million jobs. Because that is what America needs most right now.
It is absolutely true that we cannot depend on government alone to create jobs or economic growth. That is and must be the role of the private sector. But at this particular moment, with the private sector so weakened by this recession, the federal government is the only entity left with the resources to jolt our economy back to life. It is only government that can break the vicious cycle where lost jobs lead to people spending less money which leads to even more layoffs. And breaking that cycle is exactly what the plan that’s moving through Congress is designed to do.”
What do you think? Do you support the stimulus bill? How do you think it should be changed? Do you think it will help save and create new jobs?
A few interesting articles and editorials:
New York Times: A Better Stimulus Bill
Wall Street Journal: There’s No Stimulus Free Lunch
Washington Post: Again With the Depression? Great.