News / USA

Obama: Stimulus Has Saved 2 Million Jobs

U.S. President Barack Obama says the massive economic stimulus bill he signed one year ago has prevented another Great Depression and kept millions of Americans working. The president is celebrating the anniversary of the bill's signing.

President Obama says the $787 billion Recovery Act is working.  "It is one of the main reasons the economy has gone from shrinking by six percent to growing by about six percent.  And this morning we learned that manufacturing production posted a strong gain.  So far, the Recovery Act is responsible for the jobs of about two million Americans who would otherwise be unemployed," he said.

But Mr. Obama acknowledges with U.S. unemployment at 9.7 percent, many Americans are still frustrated about the state of the economy.

"Millions of Americans are still without jobs. Millions more are struggling to make ends meet. So it does not yet feel like much of a recovery, and I understand that. That is why we are going to continue to do everything in our power to turn this economy around," he said.

Republican lawmakers, almost all of whom have voted against Mr. Obama's domestic initiatives, say the stimulus has cost too much, incurred too much debt and done too little.  

Senate Minority Leader Mitch McConnell says the Recovery Act has been full of waste, fraud and abuse.  And in a statement titled Where Are The Jobs?, House Minority Leader John Boehner says it is clear that the stimulus has utterly failed.

The president admits it would be impossible for government spending alone to restore economic health.  He says the intent of the Recovery Act was to help businesses stay in business and encourage them to keep hiring. "What government can do is provide a temporary boost that puts money in people's pockets and keeps workers on the job," said Mr. Obama.

Despite fierce political opposition and mixed acceptance by the American public, Mr. Obama says the stimulus has achieved its desired results. "There has never been a program of this scale, moved at this speed, that has been enacted as effectively and as transparently as the Recovery Act," he said.

With health-care reform in jeopardy and financial regulatory reform on hold, the stimulus is the only one of the president's legislative priorities that he has signed into law.  

You May Like

India PM Modi's Party Distances Itself From Religious Conversions

BJP under fire for being slow to rein in hardline affiliate groups allegedly trying to promote Hindu-dominant agenda by luring Muslims and Christians to convert More

Anti-Whaling Group Found in Contempt of Court

Radical environmentalists who threw acid and smoke bombs at Japanese whalers in the waters off Antarctica continue their campaign to disrupt Japan's annual whale hunt More

UN's Ban Urges End to Discrimination Against Ebola Workers

Ban was speaking in Guinea on the second day of a whistle-stop tour aimed at thanking healthcare workers of the countries at the heart of the epidemic More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
US Decision on Cuba Underscores Divisions Among Miami Cubansi
X
Sharon Behn
December 19, 2014 9:34 PM
For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video US Decision on Cuba Underscores Divisions Among Miami Cubans

For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video Three Cities Bid for Future Obama Presidential Library

President Barack Obama still has two years left in his term in office, but the effort to establish his post-presidential library is already underway. The bid for the Obama Presidential Library is down to four locations in three states -- New York, Hawaii, and Illinois. As VOA’s Kane Farabaugh reports, each of them played an important part in the president’s life before he reached the White House.
Video

Video Cuba Deal is Major Victory for Pope’s Diplomatic Initiatives

Pope Francis played a key role in brokering the US-Cuba deal that was made public earlier this week. It is the most stunning success so far in a series of peacemaking efforts by the pontiff. VOA religion reporter Jerome Socolovsky has more.
Video

Video Fears of More Political Gridlock in 2015

2014 proved to be a difficult year politically for President Barack Obama and a very good year for the U.S. Republican Party. Republican gains in the November midterm elections gave them control of the Senate and House of Representatives for the next two years -- setting the stage for more confrontation and gridlock in the final two years of the Obama presidency. VOA National Correspondent Jim Malone has a preview from Washington.
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.

All About America

AppleAndroid