In today's weekly address to the nation, President-elect Barack Obama discussed the need for an American Recovery and Reinvestment Plan aimed at creating three million new American jobs and making the long-term investments needed to build a 21st century economy.
He stressed that the problems we face are neither Democratic nor Republican problems, and that economists from across the political spectrum agree about the need to act quickly and boldy.
That's why we need an American Recovery and Reinvestment Plan that not only creates jobs in the short-term but spurs economic growth and competitiveness in the long-term. And this plan must be designed in a new way – we can’t just fall into the old Washington habit of throwing money at the problem. We must make strategic investments that will serve as a down payment on our long-term economic future. We must demand vigorous oversight and strict accountability for achieving results. And we must restore fiscal responsibility and make the tough choices so that as the economy recovers, the deficit starts to come down. That is how we will achieve the number one goal of my plan – which is to create three million new jobs...
President-elect Obama will meet with leaders of both parties next week in Washington to discuss the plan.
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