January 10th, 2009
09:45 AM ET
5 years ago

Obama: stimulus plan could create, save up to 4 million jobs

WASHINGTON (CNN) - Barack Obama now says his plan to pump up the ailing economy could create or save three to four million jobs, more than the 2.6 million jobs the government says were lost last year.

In his weekly radio and YouTube address, the President-elect gave details on a report released by his transition team. The report details the types of jobs that would be created or saved by Obama's stimulus proposals, officially known as the "American Recovery and Reinvestment Plan."

"The report confirms that our plan will likely save or create three to four million jobs. Ninety percent of these jobs will be created in the private sector – the remaining 10 percent are mainly public sector jobs we save, like the teachers, police officers, firefighters and others who provide vital services in our communities," says the President-elect.

The report, however, acknowledges that all of the estimates "are subject to significant margins of error" since it is unclear what the final economic package will look like once it emerges from Congress.

In his address, the president-elect once again warned that the road to economic recovery will be long and hard. "Given the magnitude of the challenges we face, none of this will come easy," he said. "Recovery won't happen overnight, and it's likely that things will get worse before they get better. But we have come through moments like this before."

Obama's economic team is negotiating with congressional leaders over the details of the plan. Senate Democrats will meet tomorrow with Obama's advisors in a rare Sunday event on Capitol Hill.


Filed under: Congress • President-elect Obama • stimulus plan
soundoff (308 Responses)
  1. Simmy

    To Ernie,

    PE Obama does not need to set up any scenarios in order to blame Pres. Bush. Bush is already to blame. Think before you speak, or ferme votre grande bouche.

    January 10, 2009 02:15 pm at 2:15 pm |
  2. Debbie

    Gee...wonder why Bush didn't think of something to do to make the economy better! The hillbilly repubs want to call it welfare....I guarantee NOT A SINGLE ONE OF THEM will send back ANY stimulus money or refuse a job that comes out of this. They cry "welfare and giveaways" yet they participate and partake in ANYTHING the democrats put in place. They are just a bunch of sore, sour sports who blindly followed a criminal administration. All I can to them is.....deal with it....the rest of us suffered for 8 years under an elitest administration....NOW IT'S OUR TURN!

    January 10, 2009 02:15 pm at 2:15 pm |
  3. Dennis

    Its not just BUY AMERICAN, but restrictions to be put on companies to force use of US taxpayer money to be used at home rather than in India and China.

    US taxpayer money SHOULD not be used to stimulate India, China, Russia, east Europe, Brazil, etc. Afterall, those countries have DONE NOTHING FOR US except to take our jobs.

    January 10, 2009 02:15 pm at 2:15 pm |
  4. Scott

    Conservation, solar, wind and other clean energy systems can and will bring billions of energy profits home to all Americans. These technologies need to be available to all of us... not just a few petro addict companies, their CEO's and stockholders....available to the other 99% of us. Site based production of energy at the home or business, not only eliminates grid line loss of up to 70% (something utilities don't often mention), the expense of maintaining the grid, potential for terrorism, and puts the profits into the hands of everyone.

    This grand and bold move will solve much of our current economic problems, put millions of Americans to work doing so and provide a clean living environment for us and our children. Go for it Barack, doubling our existing production of alternative energy is a joke...we need and voted to increase it by thousands fold...not double it. Don't let the petro addict companies and their puppet politicians tell us that these technologies needs developed...or that it is undependable or any ot the other self serving denials of the truth.

    Solar, wind, and other energy production methods are proven, available and for real. They just need a level playing field with the petro's. The whole and true costs of clean energy is far and away the best investment economically and environmentally. With business, comes better production costs, efficiency and all of the wonderful benefits that putting the energy economy in the hands of the people would do. Time is of the essence!

    January 10, 2009 02:17 pm at 2:17 pm |
  5. Mike

    Jobs get shipped offshore because the taxes ALREADY imposed on business in this country make this country's labor force unable to compete. Reduce (not increase, Mr. Obama) corporate taxes and more people will be hired. Make-work jobs of having people dig ditches to have others fill them up, all the while using tax revenue, does not, will not and has never created a growing economy anywhere in the world. It will not this time.

    January 10, 2009 02:18 pm at 2:18 pm |
  6. d

    "Wisest one of all"
    love the name, you are a moron. Proven Fact!

    Wisest one of All January 10th, 2009 1:32 pm ET

    the racist empty suit hussein nobama can not create any jobs without depriving real businesses of the money to create jobs.

    The government has proven it can't do anything correctly and with the mind blowing moron of a new president we have they will be unable to do any good for the country. Proven Fact!

    BTW, since nobama hates the US he does want the country to fail and so do his mindless cult followers. Another Proven Fact!

    January 10, 2009 02:18 pm at 2:18 pm |
  7. DavidinCA

    How about this plan; You give me $200,000 and I will create or 'save' one job. Now do this 4 million times. This is Obama's plan. Who the hell's running this "American Recovery and Reinvestment Plan"? General Motors? Why all the fluff? Who in their right mind would buy into this?

    January 10, 2009 02:20 pm at 2:20 pm |
  8. Fred

    I'm not sure which I prefer; the standard liberal, incapable of independent thought, who spews names and hate towards any clear thinker, or the high brow liberal, incapable of independent thought, who less venomously repeats the democrat mantra in a attempt to somehow defend or justify the disastrous policies of the democrats that got us to this point. Like a previous blogger mentioned, pretty much our only hope is surviving till the next election and praying Obama, Pelosi and Reid don't do so much damage it can't be undone.

    January 10, 2009 02:27 pm at 2:27 pm |
  9. Has anyone seen Paulson?

    Bush,Bernachi and Paulson have their bags stuffed with cash and headed for extradition free Chile as you fight over trivia.

    January 10, 2009 02:30 pm at 2:30 pm |
  10. skunxxxxs-TXDallas

    Good to be optimistic rather than the opposite. Some republicans and democrats yell that the Obama's plan is not gud while they cannot produce a better presription for our economy. They like criticism which is ok but they need to provide a better one.
    Obama agreed that any gud suggestions is under consideration from all spheres of stakeholders.
    Stop tearing, but build a strong and vibrant economy.
    Obama go ahead.

    January 10, 2009 02:30 pm at 2:30 pm |
  11. mina

    What a shame that basically all the comments are negative and he hasn't even been sworn in. Government cannot do it alone it also involves the people. Where is your Grace and what can you do as an american citizen other than complain!

    January 10, 2009 02:31 pm at 2:31 pm |
  12. Gmp

    OMG to Clifford regarding Obama's mother-in-law living in the White House. She is there to take care of her grandchildren – and if public money is all you are concerned about (rather than their welfare) that is significantly cheaper than paying for a Nanny (who would also live at the White House). Comments lite these are so discouraging as we clearly are so backward and racist in this country. I always think we are further along and then hear/read a comment like this.... GMP in Texas

    January 10, 2009 02:32 pm at 2:32 pm |
  13. "E" from Ohio...

    Unfortunately for Mr. Obama he has said anything and absolutely everything he could (no matter how vague and naive) possibly think of to help himself win the election and now he has raised the expectations of the American people and even the world so much that I don't believe he will ever be able to live up to those expectations to which he himself has created.

    I am 100% "not a fan" of Mr. Obama, but IF he is able to live up to the reputation and expectations for change he has created I will be the first to admit that I was wrong and show some pride that my country (not myself) has elected such a leader. But as of right now, Mr. Obama, I am not impressed... and I don't believe that I will be.

    Anyone can shoot their mouth off with vague ideas and pretend to give a **** about everyone in this country (like all politicians pretend to do), but it takes a TRUE LEADER to ACTUALLY change the world for the better. I whole-heartedly believe he will absolutely NOT be on of those leaders and articles like these do nothing to dissuade me.

    January 10, 2009 02:33 pm at 2:33 pm |
  14. Please spare me

    First of all, government does not create jobs. The governement puts into place policies and laws that allow individuals, companies, etc., to create jobs. The government only creates beuracracy to inhibit the little man from succeeding. What job has Barack HUSSEIN Obama ever had. Has he ever owned a company, managed people.? Yes, George Bush did. Obama is nothing but a lacky for the Democratic Party. I am a single parent, self employed, drive 178 miles round trip every day. I am not on the public pig trough. I served in the military during the Gulf War. All I see these days is what can my Country give me, I do not want anything from my country, except to be protected by our Outstanding Armed Forces, our police and firefighters. I am so sick and tired of going to the store (Wal-mart) is what we have and seeing the LoneStar Card (Texas version of Welfare) pulled out by Illegals, White Trash, and Blacks, all who have 50 million children that they can not afford buying better things than I do. America as has become the SOW – just give me more. Get off you behinds and work, quit having children you can not afford.

    January 10, 2009 02:33 pm at 2:33 pm |
  15. Buddy

    You will never solve the job market until you secure the borders.

    January 10, 2009 02:34 pm at 2:34 pm |
  16. Nevada Mom

    The days of Fat and Happy Americans are coming to a close.
    We are waking up the reality that our gluttonous culture of over-consumption has caused a great deal of ill.
    We are sick from over-consumption.

    Keeping up with the Jones's and spending more than we can afford has made us fiscally sick. It will take a long time for us to recover.

    All of the daily Starbucks runs for those mocha frappucinos, and easy-to-prepare junk food meals supplied to us by the unconcerned mega-food companies have made us physically sick. We are now a nation of obese people by the majority, with every possible ailment plaguing us.

    And, ALL OF IT comes from a mentality of having whatever we want, when we want it. No self control. No restraint.
    No one can survive a life of excess and gluttony. Not even Americans.

    We wouldn't change ourselves voluntarily. Well, we'll have to, now. Our total health depends on it. So, Americans should resolve to become a completely healthy nation once more. We should support our own businesses and revive our fiscal health. We should eat foods locally grown by small farmers (organic would be the best) and we can leave the grease-pits on every corner behind. Then, we can get physically healthy again, too.
    Then, let's lead the world!!!!!!!!!!!!!!!!

    January 10, 2009 02:37 pm at 2:37 pm |
  17. "E" from Ohio...

    "Polar Bears Against Palen"
    ^Ha, first of all you could at least spell her name correctly (Palin).

    Name calling only makes you look like an ignorant person, who really doesn't know anything about this matter, so therefore you just throw out what you think would be offensive names to the opposing party. I have seen a great deal of these messages that are some what negative towards Mr. Obama and are from Democrats. Not only that, but many of these people are probably so moderate that they vote for each parties on different occasions (like myself). So, to sit there and blame the Republican Party for all these comments against your beloved Obama is really pointless and ignorant.

    January 10, 2009 02:41 pm at 2:41 pm |
  18. Hammer

    Obama knows that this will happen because his team told him so!

    January 10, 2009 02:41 pm at 2:41 pm |
  19. Has anyone seen Paulson?

    @Brent from Alabama.Its the economy stupid.No one is buying Toyotas or the rest of the commie trash either.

    January 10, 2009 02:44 pm at 2:44 pm |
  20. Debra

    Give Obama a fair chance. At least he's being honest with the american people by stating "this will be a rough road." We can not say the same about Bush! Can any of you name at least one thing he did in the last 8 years that made america better? We are more divided than ever before. Farthermore, I'm waiting to see what else he can screw up in the next 10 days.

    And to all of you Obama haters...start practicing saying the following~
    President Barack Obama. And do not forget First Lady Michelle Obama!!! You only have 10 days!!!!!!

    January 10, 2009 02:45 pm at 2:45 pm |
  21. Lew Standish

    I suggest we bring God's ten commandments back out of hiding and get them on display and let them guide us again. Without them any stimulus package could be useless. Here's a test... ask, most anyone near you at this moment; "What is God's eighth commandment"? their response will verify how far we have drifted from our creator. And for those who don't or can't believe the end is near just remember,
    " NEITHER WAS IT RAINING WHEN NOAH WAS BUILDING THE ARK"

    Yes, the atheist will be screaming, but just maybe a few of them can be saved too.

    January 10, 2009 02:46 pm at 2:46 pm |
  22. Ken

    Meh,

    Sorry, I have no front yard. It's a luxury I can not afford.

    None of the things I have mentioned below apply to me. I have never had a speeding or driving ticket either. Maybe the firework thing applies. I don't know. I'll have to check with my city. But I do know of several counties and states that oppress the people from shooting off fireworks on the 4th of July.

    Sorry, but again, none of my 11 requests apply to me. I just think we would be a better America if we weren't so restrictive.

    January 10, 2009 02:46 pm at 2:46 pm |
  23. Texas Teacher

    Clifford... better check... your sheet is showing or else you're ignorance... Michelle's mother will be much cheaper than a NANNY! And all she will get paid is her meals! :( The Girls grandmother will be much better for them than a paid nanny for when her parents are busy with political business!

    January 10, 2009 02:46 pm at 2:46 pm |
  24. Dwight Huth

    What I don't like is the percentage's, 90% for the private sector the remaining 10% for civil services. What these percentages are really telling me is that the jobs that are changing are the ones that will be vacated after Bush leaves the Whitehouse, which would then be filled with the new Presidents people.

    What should be done is kick the illegals out of the country, shut down those business' that employee(d) the illegal immigrants, cut down welfare and benefits for those able to work but have been suckling off of the system and put them to work at least part time. The business' that get shut down for employing illegal immigrants would then be turned over to Americans who would then hire Americans that can be taxed to put more ISK back into the economic coffers of this country. Also start taxing the church, there is another establishment that when taxed would create a substantial amount of tax money to fund new means of energy to propel our automotive industry. Who wants to be part of an industry where the result of the energy uses continues to kill thousand's if not hundreds of thousands each year? The real question is who wants to be part of change that will actually create new jobs not just around the the country, but around the globe?

    Who wants to sit around and be dinosaurs, when we could invigorate the economy with change.

    January 10, 2009 02:47 pm at 2:47 pm |
  25. Dick---somewhere

    To the wisest one of all.

    YOUR A NUT NUT NUT

    January 10, 2009 02:51 pm at 2:51 pm |
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