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. Robert

    I like the people that are bashing giving jobs off tax payer money or claiming outsourcing. You can not teach outsourced workers with no high school education how to build the innovations we are currently investing in. As for our money paying for our jobs which we in turn put back in the system, its called being a self sufficient nation. Instead of fighitng it like the old "American" way we should learn to emrbace what works and not what is "American."

    January 10, 2009 11:44 am at 11:44 am |
  2. Andy

    Of course he's going to raise taxes to pay for the new jobs, that's what Democrats do! Of course he's going to spend billions on free hand outs for people that are too lazy to get a job, that's what Democrats do! Politics haven't changed a bit in decades. It's a shame that all of our educators are in the hands of these liberals. Our children grow up thinking socialism is the way to go, rather than learn from the nightmares of the past.

    January 10, 2009 11:44 am at 11:44 am |
  3. javier serrato

    The USA needs food and raw materials mainly. The USA, does not need cheap products coming from India and China or Europe. The solution is simple: open the borders to Latin America in a free trade agreement and close the borders for other continents using high taxes. America for the Americans or did you forget about it? Europe is for the Europeans...Asia is for the Asians...we need to do the same.

    January 10, 2009 11:44 am at 11:44 am |
  4. Mike in MN

    Building projects were used by FDR to stimulate the economy and it worked, but it is not what caused the boom in the forties (WWII). Generally these are good things. At least he is talking about creating jobs which will help us tax payers in two ways. 1. More jobs equals more tax revenue. 2. More people making money means that less people will rely on government handouts and such. This might cost taxpayers money right now but if it works than it will hopefully save us money in the end. It is definitely better than handing it out. Also, the bailouts were loans and as long as those companies don't go chapter 11 we will get our money back.

    January 10, 2009 11:44 am at 11:44 am |
  5. Kelsey

    How? All it says is what will happen. Why won't they give us the facts so we as the American people can put our two cents in.

    January 10, 2009 11:45 am at 11:45 am |
  6. ricky

    USA will recover , but we need to work harder than before,and patience
    -by the way t, i think they should do smthing who hires the illegals.

    January 10, 2009 11:45 am at 11:45 am |
  7. Eric

    People need to realize that the government cannot save them. It was never intended to function that way.

    January 10, 2009 11:47 am at 11:47 am |
  8. tony

    Joan January 10th, 2009 11:30 am ET

    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
    So instead of making a choice between starving and having a job you would rather sit on your but and get welfare, food stamps, and other government goodies. That is exactly what is wrong with this country now. I have worked two jobs most of my life to survive. Did I like it no but I know when I go to sleep at night with my belly full in a nice soft warm bed, "I" made those things possible not someone else.

    January 10, 2009 11:50 am at 11:50 am |
  9. Blake

    $133,000,000,000,000,000 is approximately how much it would cost to give each tax paying household one million dollars. Approximately 13,000 times the outstanding debt of our government and every person in the country combined. So that's not such an easy answer to the problem.

    January 10, 2009 11:50 am at 11:50 am |
  10. strong

    We will see what he can and cannot do !

    Enough of the promises already. Let's see the action, O Chosen One.

    January 10, 2009 11:50 am at 11:50 am |
  11. SDB

    Joan...people with your mind-set need to come and visit Northern Indiana and towns like Mishawaka were the illegals are not working farm jobs...the farmers cannot hire illegals for those jobs because the illegals expect more now...they work for much more money at the Hummer plant, etc. The employers hire illegals at 38 hours a week without benefits and they are happy for that...unfortunately this means that the US citizens who want full-time employment with benefits have been "let go"...

    Anyhow, the best thing to do would be to set up a national "security force" to go door-to-door..make a national announcement that you are to have proof that you are either a citizen or here legally...give illegals a window where they can come forward and admit they are here illegally and they can take their belongings and if they do not come forward and must be detained then they will lose everything. We must take back our country and make the illegals leave...that alone would do wonders for our economy, our educational system, our health care system and so on.

    Please stop fooling yourselves people!! Stop feeling sorry for illegals because they have it better than you can imagine...I see it every day in GOSHEN, INDIANA!! Where are you ICE????

    January 10, 2009 11:51 am at 11:51 am |
  12. mark gitersonke

    OBAMA If you want to stimulate the economy build 50 new nuclear plants around the country. If you make the fianancial and requlatory process easy for companies they will build, we need the power and the jobs. Quit talking and do it !!!

    January 10, 2009 11:52 am at 11:52 am |
  13. Farrell, Houston, Tx


    January 10, 2009 11:52 am at 11:52 am |
  14. Tray

    I agree with James Ohm! Awesome plan! Some of u guys sound silly. Y'all are blaming this guy already for something he's TRYING to accomplish which is more that what your favorite president Bush could say he did. Look at all the crap Obama is inheriting! Do you really expect him to fix this by next week? He could easily lie and say, "dont worry folks, i got this, by next month our recession will be over and done with!" Get real. Give the man a chance, he hasnt even been fully inagurated yet.

    January 10, 2009 11:54 am at 11:54 am |
  15. katiec

    I see comments criticizing the Democrats but ones telling it like it is about the republicans stay on moderation.
    Typical CNN.

    January 10, 2009 11:54 am at 11:54 am |
  16. John

    Javier- good points, I agree. We can actually get along with people in the Americas and have a lot in common

    January 10, 2009 11:56 am at 11:56 am |
  17. Drake

    What kinds of jobs will these be??? Infrastructure projects might yield a few jobs for out-of-work construction workers and day laborers, but the vast majority of white collar and service workers who've lost their livelihoods won't benefit from any of this nonsensical "stimulus". This entire stimulus fiasco is nothing more than politicians feeling like they need to "do something" and isn't based on any fundamental economic or business principles whatsoever. And contrary to what the press keeps telling us, the New Deal of the 30's (the supposed model for this new stimulus package) DIDN'T WORK – the economy didn't turn around until WWII created opportunities for US-based manufacturers to exploit the need for goods elsewhere in the world, ie, places like Europe and Asia that had seen their industrial capacities wiped out by warfare.

    January 10, 2009 11:57 am at 11:57 am |
  18. tony

    Butch January 10th, 2009 11:36 am ET

    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.
    If there are no illegals to do those jobs and American citizens refuse to work for those wages I think the employer will either go out of business or pay those wages. Also I don't think dishwashers make six figures a year and I don't know too many people that makes that much.

    January 10, 2009 11:58 am at 11:58 am |
  19. Levi

    He is trying to apply a new sort of new deal approach like the one Roosevelt used to lift the economy from the great depression, but recent studies show that if anything it only slowed down the economic rebound. So, all in all this is probably a poor idea.

    January 10, 2009 11:59 am at 11:59 am |
  20. Dave in MT

    It seems most of you can't see past the end of your nose. Has anyone heard of the Great Depression? Maybe you even remember how this country climbed out of it. No, I did'nt think so. Go back to your easy chair, we don't need your help.

    January 10, 2009 12:00 pm at 12:00 pm |
  21. Jbob

    Give Obama a break, he's not even in office, yet you know he is headed for failure. I am a republican but I now support Obama...he's the one we have to lead our country for the next 4 years. I can rant and complain about every time he sneezes or I can support and wait and see what happens...so support I will do. Getting tired of the taxpayers paying for different government programs...wake up, that is what taxes are for. You've paid them all your working life and fortunately you don't get to pick how our tax money is spent. A plan has to be put in place to rescue the economy and it has to be followed unwaveringly, otherwise it won't work.

    January 10, 2009 12:00 pm at 12:00 pm |
  22. william fitzwater

    I am one of the 2 million unemployed and I am encouraged by Obamas radio address. My biggest worry is what has happned in past administrations which is to outsource jobs to the far east . Are these 2 to 4 million jobs good paying jobs. When Obama talks about extending unemployment insurance that is all good but what did he mean by extending health insurance of laid off employees. I would like to see where government is paing for my health insurance now . I pay that under COBRA and it is killing me as far as costs go. Good paing jobs that are truly USA made health care for all . Like a chicken in every pot ; I heard that one before but I voted for Obama and I do at least for now believe in him . However seeing is believing time is short the work is imense and it is time to get America moving agin. Don't let part politics get in the way this is a time when all Americans need to work togather for the common good just like in war. We are good at starting was but this is just like the same.

    January 10, 2009 12:00 pm at 12:00 pm |
  23. foxglove

    Obama will out shine the current adminstration in sound decisions and spending. I have no doubt about his skills but I do have reservations about out poor performing House and Senate. Many of these people are incompetent and should have been sent home years ago to be use car salemen.

    The Republicans should shut up....your administration has put us where we are today and that is a FACT.

    January 10, 2009 12:00 pm at 12:00 pm |
  24. democrat 4 change

    Obama is doing what Bush simply failed to do .Obama is telling the truth about the economy. Would you rather believe the economy is fundamentally sound while millions loose their jobs weekly and families loose their homes? Obama is not giving excuses for failure. The diagnosis of an ailment is the first step toward recovery.

    January 10, 2009 12:01 pm at 12:01 pm |

    All you folks should be running for a government position. With such expert opinion, maybe all of you could become part of the Obama's financial planners. GROW UP!

    January 10, 2009 12:01 pm at 12:01 pm |
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