January 24, 2009
Obama addresses the American people on the economy.
In his first weekly address to the nation Saturday, President Barack Obama pressed lawmakers to approve a massive economic stimulus plan within a month, warning that failure to act quickly would bring financial hardship to American families.
"Our economy could fall $1 trillion short of its full capacity, which translates into more than $12,000 in lost income for a family of four. And we could lose a generation of potential, as more young Americans are forced to forgo college dreams or the chance to train for the jobs of the future," the president said in wide-ranging speech that the White House released early Saturday.
"If we do not act boldly and swiftly," Obama added, "a bad situation could become dramatically worse."
The proposed $825 billion recovery package before Congress is the cornerstone of the new administration's effort to create or save three million to four million jobs over several years and promote long-term economic growth.
In his radio and Internet video address, Obama made a public appeal for the key priorities of the plan, focusing on renewable energy, national security, education, health care and infrastructure. "This is not just a short-term program to boost employment," he said. "It's one that will invest in our most important priorities like energy and education; health care and a new infrastructure that are necessary to keep us strong and competitive in the 21st century."
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