"It is absolutel
y 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," Obama said in his first prime time news conference.
"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."
Obama, his advisers and the Democratic leaders of Congress argue the roughly $838 billion measure will help pull the U.S. economy out of its current skid.
Much of the package involves infrastructure spending, long-term energy projects and aid to cash-strapped state and local government.
Obama said the plan -- a version of which passed a key Senate hurdle Monday -- was "not perfect," but would create up to 4 million new jobs. Watch Obama explain how the plan will create jobs »
"These will not be make-work jobs, but jobs doing the work that America desperately needs done," he said, including rebuilding roads and bridges and developing alternative energy sources.
The president said 90 percent of those jobs would be generated by the private sector, a rebuttal of some conservative critics who say the plan amounts to little more than a government jobs bill.
y 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," Obama said in his first prime time news conference."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."
Obama, his advisers and the Democratic leaders of Congress argue the roughly $838 billion measure will help pull the U.S. economy out of its current skid.
Much of the package involves infrastructure spending, long-term energy projects and aid to cash-strapped state and local government.
Obama said the plan -- a version of which passed a key Senate hurdle Monday -- was "not perfect," but would create up to 4 million new jobs. Watch Obama explain how the plan will create jobs »
"These will not be make-work jobs, but jobs doing the work that America desperately needs done," he said, including rebuilding roads and bridges and developing alternative energy sources.
The president said 90 percent of those jobs would be generated by the private sector, a rebuttal of some conservative critics who say the plan amounts to little more than a government jobs bill.
The president assembled top aides at the White House on Sunday evening to "go over topics" for a little refresher, according to White House Press Secretary Robert Gibbs.
Gibbs said the president was ready for all the key topics because he covered a lot of the same ground -- topics like the economy, health care, Iraq, Afghanistan -- for nearly two years on the presidential campaign trail.
Obama will start the news conference with an 8 to 10 minute opening statement on the economy. Aides have allotted 40-45 minutes for questions from reporters, Gibbs said.
Obama's remarks come on the eve of a crucial vote, when the senators decide whether to pass their version of the stimulus bill.
The Senate gave Obama a big victory just hours before his news conference, voting to end debate on the bill and move to a full vote Tuesday.
The House passed its version of the stimulus bill nearly two weeks ago -- without a single Republican vote.
If the measure passes the Senate, the two chambers will have to reconcile the differences in their versions of the bill.
The president wants the final bill on his desk by Presidents Day, which is next Monday.
Republicans opposed to the bill say there is too much wasteful spending and not enough tax cuts in it.
Obama has urged lawmakers to act swiftly, warning that failure to do so "will turn crisis into a catastrophe."
Obama gave his message a road test Monday as he traveled to Elkhart, Indiana, to stump for the plan.
The downturn could become a "crisis that at some point we may be unable to reverse," Obama told a packed high school gymnasium at a campaign-style town hall. "We can't afford to wait."
Obama is planning a second campaign-style swing Tuesday, heading to Fort Myers, Florida, another city wrestling with double-digit unemployment.
Polls show the public is split over the stimulus plan. A slight majority, 54 percent, favors the bill; 45 percent are opposed, according to a CNN/Opinion Research Corp. survey released Monday.
Obama says his plan will spur job creation and long-term growth by:
Doubling the production of alternative energy in the next three years
Modernizing federal buildings and improving the energy efficiency of 2 million American homes
Making investments to have the country's medical records computerized within five years
Equipping schools with 21st-century classrooms
Expanding broadband access
Investing in science and new technologies
Leading Republicans warned Sunday that the Obama administration's stimulus effort will lead to what one called a "financial disaster."
"Everybody on the street in America understands that," said Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee. "This is not the right road to go. We'll pay dearly."
Gibbs said the president was ready for all the key topics because he covered a lot of the same ground -- topics like the economy, health care, Iraq, Afghanistan -- for nearly two years on the presidential campaign trail.
Obama will start the news conference with an 8 to 10 minute opening statement on the economy. Aides have allotted 40-45 minutes for questions from reporters, Gibbs said.
Obama's remarks come on the eve of a crucial vote, when the senators decide whether to pass their version of the stimulus bill.
The Senate gave Obama a big victory just hours before his news conference, voting to end debate on the bill and move to a full vote Tuesday.
The House passed its version of the stimulus bill nearly two weeks ago -- without a single Republican vote.
If the measure passes the Senate, the two chambers will have to reconcile the differences in their versions of the bill.
The president wants the final bill on his desk by Presidents Day, which is next Monday.
Republicans opposed to the bill say there is too much wasteful spending and not enough tax cuts in it.
Obama has urged lawmakers to act swiftly, warning that failure to do so "will turn crisis into a catastrophe."
Obama gave his message a road test Monday as he traveled to Elkhart, Indiana, to stump for the plan.
The downturn could become a "crisis that at some point we may be unable to reverse," Obama told a packed high school gymnasium at a campaign-style town hall. "We can't afford to wait."
Obama is planning a second campaign-style swing Tuesday, heading to Fort Myers, Florida, another city wrestling with double-digit unemployment.
Polls show the public is split over the stimulus plan. A slight majority, 54 percent, favors the bill; 45 percent are opposed, according to a CNN/Opinion Research Corp. survey released Monday.
Obama says his plan will spur job creation and long-term growth by:
Doubling the production of alternative energy in the next three years
Modernizing federal buildings and improving the energy efficiency of 2 million American homes
Making investments to have the country's medical records computerized within five years
Equipping schools with 21st-century classrooms
Expanding broadband access
Investing in science and new technologies
Leading Republicans warned Sunday that the Obama administration's stimulus effort will lead to what one called a "financial disaster."
"Everybody on the street in America understands that," said Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee. "This is not the right road to go. We'll pay dearly."
The nonpartisan Congressional Budget Office reported last week that the stimulus measure, as it's presented now, is likely to create between 1.3 million and 3.9 million jobs by the end of 2010, lowering a projected unemployment rate of 8.7 percent by up to 2.1 percentage points.
But the CBO warned the long-term effect of that much government spending over the next decade could "crowd out" private investment, lowering long-term economic growth forecasts by 0.1 percent to 0.3 percent by 2019.
But the CBO warned the long-term effect of that much government spending over the next decade could "crowd out" private investment, lowering long-term economic growth forecasts by 0.1 percent to 0.3 percent by 2019.
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