Title: Stimulus putting economy back on track, Obama says
Published: Sat, 31 Oct 2009
Description: (NECN/ABC: Washington, D.C.) The first report card on the President's $787 billion stimulus bill is out, and the administration claims 650-thousand jobs have been saved or created with the $159 billion already spent. In his weekly address...
Automatically Generated Transcript (may not be 100% accurate)
" The first report card on the president's three quarters of a trillion dollar stimulus bill is out. And the administration claims 650000. Jobs have been saved or created. With a 159 billion dollars already spent in his weekly address President Obama says the stimulus has put the economy back on its speak. These investments are just helping us recover in the short. We're helping to lay a new foundation for lasting prosperity in the long term. While much of the money has been used for infrastructure projects some governors including California -- Arnold Schwarzenegger. -- the federal dollars have allowed states to avoid budget cuts in areas such as education. But despite federal spending the nation's unemployment rate is still nine point 8%. Continuing to rise as many Americans are losing their jobs and not able to find another. The administration touted the stimulus and programs including cash for clunkers. As ways to get the country out of that recession. But in the republicans' weekly address house minority leader John Boehner called the president's policies a wasted tax money. It will only add to the booming one trillion dollar budget deficit. The stimulus bill isn't working. Unemployment is rising. The -- to be paid by our kids and grandkids is exploding. Despite the criticism the White House says the stimulus is on track to reach the president's goal of creating or saving. More than three million jobs by the end of next year. David -- ABC news Washington."
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