January 10th, 2009
09:45 AM ET
9 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. Sam in TX

    What excuses are you talking about, Ernie? Obama's stating the plain truth - we've got a long road ahead of us and reconstruction won't happen overnight. The economy won't recover until we get our jobs back. Even just a quarter of the jobs he's hoping for (powerful stuff, that is) will go a long way in helping everybody. Let's give it time and see what he can really do.

    January 10, 2009 11:27 am at 11:27 am |
  2. Jeff

    He's going to "save or create" 4 million jobs? How do you prove how many jobs you "saved"? If his "program" [i.e. larger program] works, and creates a million new jobs, a more verifiable number, he could then just credit the program as having saved an additional 3 million jobs – how do you disprove that?

    January 10, 2009 11:28 am at 11:28 am |
  3. Mark

    "3 to 4 million of what kind of jobs?!?!? Building bridges, roads, etc???"..Sure. Let's see, 2 million unemployed collecting benefits or their benefits have run out back on a payroll re-building a worn out infrastructure which will have long term benefits to the country. Not to mention they will also be paying into taxes and social security, paying mortgages and buying cars, durables and non-durables. You would have them sit around for two more years or more on food stamps? People want to work and be self sustaining. If that means a temporary change to work on roads and bridges, you bet millions of Americans will jump in, do something for the country and take home a paycheck. Absolutely!!

    January 10, 2009 11:28 am at 11:28 am |
  4. Mark

    Most americans are too stupid to talk to today. How many people are in this country? How about giving our money back? Imagine what the average person could do with a million or two of the trillions that are being wasted. It is about control you idiots! We have to take back what is ours!!! You people just don/t get it!!! The DOD alone can't account for around 3tril., how long are you idiots going to put up with this? Where is the bailout money? Have you got a check yet???????? WAKE UP, WAKE UP, WAKE UP, WAKE UP WAKE UP!!!!!!!! You better lock and load, you fruit cakes!!!!!!!!!!!!!!!

    January 10, 2009 11:30 am at 11:30 am |
  5. Joan

    Sandy, as you probably already, know the 12 million "illegals" are doing jobs that nobody else wants. When was the last time that you or someone in your family wanted to be a migrant farm worker for 12 hours a day, or work in flood ravaged housing in New Orleans for $10 bucks an hour, if you get paid at all?

    January 10, 2009 11:30 am at 11:30 am |
  6. flyer

    I hate to say this, but it won't work. You can't spend you way out of this. It sounds good, but all it's going to do is make things worse as far as the debt goes, and make the situation last longer.

    January 10, 2009 11:31 am at 11:31 am |
  7. False Prophet

    "He is giving all of these excuses already so if he fails he can just blame it all on Bush for leaving it that way"

    Blame it all on Bush??? I do not believe that "blame" is the proper term. It is very well documented what the last 8 years have brought us. So, don't come around with this "blame".

    January 10, 2009 11:31 am at 11:31 am |
  8. Tim

    In stead of bailing out the Auto Industry and Wall Street that 700 Billion should go to the tax payers. I have total faith in Presedent Elect Obama and I would not bet against him.

    January 10, 2009 11:32 am at 11:32 am |
  9. Don

    We're going to be spending money we don't even have. I see where he bashed President Bush for the budget problems. He is learning quick. He'll spend and keep on spending and blame it all on the Bush administration. I'm going to love the next four years because you can only blame President Bush for so long before it comes back to haunt you. They are going after the Governor of Illinois big time. One crook after another. The Democrats are going to be stepping each other for the next four years and I'm going to love it. Obama is going to just be a puppet for the old head Democrats. Senator Reid is going to stop Burris from being seated. What a joke!!! The Governor of Illinois called their bluff and won. He slapped the Democrats in the face. Say what you want, he beat them at their own game. GO DEMOCRATS!!!!!!!!!

    January 10, 2009 11:33 am at 11:33 am |
  10. Ken

    That's great news! And while we are at it, since Americans funded all of these bailouts and got nothing in return, maybe we should get something in return, maybe some extra rights: say, no police tickets for speeding, and other non-serious driving matters; say, people should be allowed to marry whoever they want regardless as to whether they are the same sex in ALL STATES; say, non-serious drug offenders should not be locked up in jail or fined; say, stem cell research should be legalized; say, all Americans should be given free wireless access to the Internet; say, drop the Stalinistic goals imposed on teachers through No Child Left Behind Act; say, all Americans are allowed to fire off fireworks and not be prohbited on a city by city or state by state basis; say, if a person has a messy front yard, that they wouldn't be fined; say, city government should not be able to retake land rightfully owned by citizens in order to increase business; say, lift the ban off of traveling to Cuba; gee, for all the crap that Americans go through because of our government, we sure do give up a lot of freedoms.

    And why is Bernie Madoff not in jail!!!!? It just comes to show how our government serves the rich and confines the poor.

    January 10, 2009 11:33 am at 11:33 am |
  11. Joseph

    Ernie in LA Said:

    He is giving all of these excuses already so if he fails he can just blame it all on Bush for leaving it that way.

    My reply:
    I did not see any excuses here or much of anywhere. Nothing posted about him saying that he can not fix what is happening, but how hard it will be on America.

    It is sad to me that everything has to become political party lines. That people nay say just on the color of the party... either party does this.

    It does not solve anything to be like this...

    So much is not fact, but conjecture of how people want to see the facts. People do not want to facts . They want nbcnews or fox. They want to see color cast of party on their viewing pleasure.

    So much garbage it will never end.
    Like this news above... You said nothing about what was said.
    Neither have I really, I have just addressed what you wrote.

    Have a good one,

    January 10, 2009 11:33 am at 11:33 am |
  12. Lorenzo

    Getting rid of illegals is not the answer. They are mainly engaged in low paying jobs that Americans either wont do or don't do well. Most of the people losing there jobs are high paying, high skilled workers. They are not likely to become dishwashers line prep cooks, produce pickers, gardners etc..that only pay $6.00 per hour. They could not survive! A plan of building the infrastructure, alternative energy jobs, and retooling the industrial military complex to pursue space instead of feeding off and promoting war and instability is the answer in my universe.

    January 10, 2009 11:33 am at 11:33 am |
  13. Paul in Chicago

    and how will all of this be paid for? Notice how nothing is said about making the USA more competitive in world economies....What can be done to overhaul goverment regulation which inhibits domestic business growth in favor of cheap foreign imports.

    January 10, 2009 11:34 am at 11:34 am |
  14. laurie

    Bush pulverized this country. He put it through a juicer and served it to all of his friends and cronies. Now Obama has pulp to work with. It will be hard to bring our economy back to a healthy place, but I have faith in our new president and whether you Republicans like it or not, he's the only hope we have. And frankly, Mr. Ohm's "One Million dollar stimulis" plan would sound a little better if he had bothered to run anything through spellcheck and spell the word "stimulus" right. I mean, it's five lines above you in the CNN copy. Honestly.

    January 10, 2009 11:34 am at 11:34 am |
  15. katiec

    Barack Obama has been handed the worst diasters ever created for our nation. Those who think Bush and the republicans are not responsible listen too often to Limbaugh etc.
    We are in the middle of numerous crisises and the politics as usual has to stop immediately. Unification is demanded for our survival.
    For once, every and all politicians have to do what is right for
    our country, party affiliation put aside, egos put on the back burner
    and bringing our nation back to the greatness we once had the top priority.
    There is no other choice.

    January 10, 2009 11:35 am at 11:35 am |
  16. DavidinCA

    For somewhere around $800,000,000,000.00, creating or saving only 4,000,000 jobs is no bargain. You could pay 4 million people $50,000 a year for 4 years for the amount of money they are talking about spending here. The private sector could create ( not just create or save ) twice as many jobs for half as much money. What does this mean? It means spend half as much money with tax breaks for business and create twice as many jobs if that's the real intent. Future generations of Americans will thank us for spending their money more wisely.

    January 10, 2009 11:36 am at 11:36 am |
  17. Curt

    And a deficit of $1 trillion dollar which our grandkids will have to pay and potentially sky-rocketing inflation as no one will want to buy a debt.

    January 10, 2009 11:36 am at 11:36 am |
  18. Butch

    Sandy, are you going to take a $4 an hour landscaping job or a $5 dishwashing job? Those 12 million illegals aren't exactly pulling down six figures.

    January 10, 2009 11:36 am at 11:36 am |
  19. Anonymous

    We all be much better than we were under out going administration.

    Obama is trying some thing useful to the country.

    January 10, 2009 11:36 am at 11:36 am |
  20. Kathleen

    As a Military Wife and Mother, I believe in Obama. He truly cares about the real people of this country, and the Military members as well. Give him a chance...his heart is in the right place and he has to clean up some major dirty laundry from some major dirty politicians he has to follow.

    January 10, 2009 11:37 am at 11:37 am |
  21. Gale

    I have all the faith our new President will give it his best to turn this sucko economy around, but lets not forget he still has to overcome the mighty roadblock known as the Senate & Congress.
    Not to mention, we need to bring Manufacturing jobs back INTO the USA, not push them OUT of the USA to some other country.

    He SHOULD START by removing the illegals/immigrants from the USA who have (1.) taken American Jobs, (2). who have drained our Healthcare System, (3) . who are overcrowding our Jails, (4). who are the highest percentage of those who have defaulted on their mortgages and gone into foreclosure.

    Did those in Washington DC somehow forget about the problem in this country called "ILLEGAL IMMIGRATION?" It was such a blazing hot topic in the 2004 election, but was all but forgotten about in the 2008 election......

    January 10, 2009 11:37 am at 11:37 am |
  22. Mike

    3-4 million jobs, and 80% in the private sector. That leaves 20% in GOVERNMENT, or 600,000-800,000 jobs in government paid for by you. This will be the biggest expansion of government in my lifetime and will represent taking more and more of our freedom. Those who believe this is "helping" the American public are out of their collective minds.

    January 10, 2009 11:38 am at 11:38 am |
  23. Outside looking In

    There is absolutely no way on earth that the US will ever dig out of the debt they are creating. 1.2 trillion last year, probably over a trillion this year. Add to this approximately 30 or 40 Trillion social security and medicare shortfall obligations that the US will owe on top of the already 10 or so Trillion already owed by the government. On top of all this, add the State debt that is mounting up and the US is all but bankrupt

    This is a disaster. Anyone who thinks spending money like this is a simple solution just does not understand how much of a financial hole the US is falling into and how it may be impossible to ever get out of it. I'm not an American so there is no political bias with my beliefs.

    January 10, 2009 11:40 am at 11:40 am |
  24. bryce

    Jobs SAVED!!!! How do you determine which jobs are saved. How do you "save" a job. I haven't been fired over the past 8 years, does that mean that Bush "saved" my job? I think Obama is realizing that his plan isn't going to create as many jobs as he thought so now he is switching focus the to "saving" jobs instead of "creating" jobs. Pathetic. Despite the recent uptick in unemployment, the labor bureau reports that 154,648,000 people are still working. Thank heaven that President Bush was able to "save" 154 million jobs.

    January 10, 2009 11:41 am at 11:41 am |
  25. Anonymous

    I wish people in this country new that the government cannot save them.

    January 10, 2009 11:42 am at 11:42 am |
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