DENVER–President Barack Obama on Tuesday signed a massive $787 billion package to revive the economy, saying the measure represented the “essential work of keeping the American dream alive in our time.”
DENVER–President Barack Obama on Tuesday signed a massive $787 billion package to revive the economy, saying the measure represented the “essential work of keeping the American dream alive in our time.”
The stimulus plan of spending programs and tax cuts is at the heart of Obama’s effort to turn the economy back into a job-creating machine. It comes with a huge price tag for taxpayers and lingering doubts about whether the plan’s results will match all the lofty promises that its supporters have made.
Obama signed the bill in Denver, the city where he accepted his party’s presidential nomination last summer and a leader in the so-called “green” clean energy jobs that the legislation supports. The president now turns his attention to a plan to help struggling homeowners who are trying to fend off foreclosure.
“I don’t want to pretend that today marks the end of our economic troubles,” Obama said before signing the legislation. “Nor does it constitute all of what we’re going to have to do to turn our economy around. But today does mark the beginning of the end.”
Meanwhile, the White House isn’t ruling out a second economic plan although none are in the works right now, spokesman Robert Gibbs said Tuesday.
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