Accessibility links

Breaking News

President Obama Begins Week Focused on Economy

Barack Obama begins his first full week as U.S. president focused on the economy - with a likely confirmation vote Monday for his nominee to run the Treasury Department.

Mr. Obama makes remarks at the White House on jobs, climate change and energy independence. Officials in Washington say he is expected to issue new regulations allowing several U.S. states to set tougher car emissions and fuel-efficiency standards.

The remarks are to come hours ahead of an expected vote in the Senate on the nomination of Treasury Secretary-designee Timothy Geithner. The nominee has been criticized for his failure to pay some $30,000 in taxes several years ago, but is expected to win confirmation.

President Obama has been aggressively campaigning for a multi-billion-dollar economic package. He met with Congressional leaders from both major political parties on Friday to discuss the economy. He is expected to go to Capitol Hill on Tuesday to lobby Republican leaders on the package, which could top 820 billion dollars.

Mr. Obama said Saturday in his weekly presidential address that if unemployment is left unchecked, the jobless rate could reach double digits. The rate now stands at more than 7 percent.

Some information for this report was provided by AP