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. Arianna

    We do need to improve our infrastructure, but what we need urgently are the jobs that will produce PROFITS, like manufacturing. I hope that, for political reasons, Obama would not discuss protectionism openly, but is working on it as the top priority. Also research and development in all industries. Other countries are gaining ground very quicky, ahead of us. Developing alternative energies is a great idea, but will come to a halt as it is very expensive and would create huge financial losses as long as oil is at this prices.

    January 10, 2009 12:13 pm at 12:13 pm |
  2. El Poco Chavaz

    If only a "wall" were built on our southern borders, we can then probably do better. I've been saying that for about 20 years now after swimming that border here! lol

    January 10, 2009 12:13 pm at 12:13 pm |
  3. Hanna

    Democrat hand outs go to Joe the Plumber not Joe the corporate CEO who has already rewarded himself for a poor performance with an astromonical bonus.

    January 10, 2009 12:14 pm at 12:14 pm |
  4. Brian

    Obama should be carefull making promises for jobs that are not there. The world economy is in a slump not just USA. Like most governments the only jobs they can provide is infrastructure. That helps construction nothing more.

    January 10, 2009 12:15 pm at 12:15 pm |
  5. Mari

    YES........ and Congress better STOP COMPLAINING AND CRITICIZING AND HELP, SUPPORT AND WORK WITH PRESIDENT OBAMA.......OR OUT THEY WILL ALL GO IN THE NEXT ELECTION....... DEMOCRATS AND REPUBLICANS ALIKE!

    January 10, 2009 12:16 pm at 12:16 pm |
  6. Tina

    Gale: I am sorry but after reading more of what you have written, did you know that in our jail systems there are more Americans than illegals or immigrants?! It awes me how you can bash and blame all of the illegals because they flooded the mortgage system as well as the credit cards. That is ridiculous. Us Americans have done a number on the systems as well. Can you please tell me how many Americans have credit card debt. On average how much? Also, research what percentage of filed bankruptcy are illegal immigrants, or even people that are non natural U.S citizens.

    January 10, 2009 12:16 pm at 12:16 pm |
  7. pammy

    Obama talks big but doesn't have a clue. What are his plans?????
    He never goes into any detail about anything he plans to do. Hasn't anybody noticed.??????

    January 10, 2009 12:16 pm at 12:16 pm |
  8. decent american

    save jobs ha? and no expanation as to how is needed because you cant put a number on a quantity that is not able to be defined coz' the jobs aint lost yet... quick thinkin'

    oh, its that loosly defined hope thing again.

    January 10, 2009 12:16 pm at 12:16 pm |
  9. Candy

    It's funny some much criticism about Obama. Why didn't you people criticize and fight against Bush. he should have been impeached. But no. We want to criticize this man before he can even get into office. Who are you? Why don;t you figure out why did the Bushes mess of the economy. Why did you vote for some who messed us up not one but twice and his father did too. When Clinton was in office they wanted to impeach him for getting a blow job. This man has committed a greater crime and nothing gets done. All I keep hearing is well who voted for him any way. You did!

    January 10, 2009 12:17 pm at 12:17 pm |
  10. Buckeye

    Economic stimulus package should include giving to the American citizen was the US gives per capita to every Israel citizen, about $1000 annually. Stop US aid to Israel. That give life to the US economy and the oppressed people of Palestine.

    January 10, 2009 12:18 pm at 12:18 pm |
  11. Anonymous

    Wow!!! I cannot believe that everyone is not realizing that we are all to blame yes President Bush screwed us it is documented. However if you want American jobs in manufacturing stop buying foreign products from China and etc. countries demand American products yes you are going to pay more for what you want but your neighbors will have jobs. It cannot be placed that one person is going to be able to fix those jobs it is going to take you also. Building roads and other public services are jobs that President-elect Obama actually has some control over it falls into the public sector where manufacturing jobs are in a private sector. I mean really are people that stupid that you cannot realize you are going to have to get involved. Also when did someone who builds bridges not be a trade sounds like a trade to me. Really lets put the last eight years behind us and move towards the future. Obama is trying to do that why can't we join the team instead of criticizing him for telling the truth about where we really are financially, we are in trouble it is no secret no one is trying to hide it but the office of President is public and cannot force private corporations into bringing those manufacturing jobs back to America. Can you walk into Walmart and tell them they have to sell american products no they are in business to make a profit and we keep buying the foreign products they sell.

    January 10, 2009 12:19 pm at 12:19 pm |
  12. Puff

    DOUBLESPEAK.... WELCOME TO 1984 REVISITED.

    January 10, 2009 12:19 pm at 12:19 pm |
  13. Paula

    to Ken: Amen brother!!

    January 10, 2009 12:19 pm at 12:19 pm |
  14. Dan

    What did the country do before the immigration problem? We took care of ourselves. If the low end jobs were not taken by illegals I'm sure there would be plenty of unemployed people more than willing to work them. What about young people starting out? Did none of you have minimum wage jobs when you were kids? Where did you learn your work ethic?

    January 10, 2009 12:19 pm at 12:19 pm |
  15. Sick of Hearing the Same Ole Vitriol

    The funny thing about all these people who keep whining about all the jobs being taken by "illegals", is that the vast majority of the jobs "illegals" are hired for are the low-level, back-breaking, menial labor jobs that most Americans don't want anyways, because they think they're too good for that kind of work for so little pay. (I know that was a run-on sentence. Sorry.)

    Also, for those who commented without reding the whole article, NINETY percent of the jobs created by Obama's plan are going to be in the private sector, not at the expense of taxpayers. Those jobs that will be SAVED (not new ones created) in the public sector will consist of positions in essential public services, and will only comprise 10% of the jobs created/saved by Obama's proposal.

    Get your facts straight before you spew your lies.

    January 10, 2009 12:20 pm at 12:20 pm |
  16. Carl

    I agree with James Ohm. Give EVERY tax paying house hold a million dollars tax free.It would cost less than what the government is spending now.

    January 10, 2009 12:22 pm at 12:22 pm |
  17. Don

    Oh please. "O"'s own Democrats dont think his plan will work! What does that tell you?? Prepare for breadlines sheeple, most of you have no clue to where this once great country is heading. We will not survive as a Democracy, we must return to the Republic we once were!

    January 10, 2009 12:22 pm at 12:22 pm |
  18. George

    ... I think that NAFTA should be revisited/modified right away;
    ... add tarifs (15-20%) to anything that is import and reduce taxes to Made in USA .

    January 10, 2009 12:23 pm at 12:23 pm |
  19. Donald

    It is common sense that in order to create new jobs, we first need to stem the outflow of the "good" jobs from this country. The causes of this outflow phenomenon need to be studied and addressed. Why did manufacturing jobs go out of this country in the last century, and why did the service sector jobs disappear in the last decade? How can boundaries be established around the Internet for electronic service delivery? This country has ample potential to create 3,4,5,6..n...milliion jobs... the bigger question is WILL THOSE JOBS STAY IN THIS COUNTRY?
    The answers lie with our "global" corporations, and politicians who make (and break) our labor, ("free") trade and immigration laws.

    January 10, 2009 12:23 pm at 12:23 pm |
  20. Jason L

    We as American's need to start relying more on our own counrty's good's, instead of relying on the cheap "made in china" toys that contain lead and cloths that were made in sweat shops. Keep your money in America!
    Punish the companies that hire Illegal immigrants, and deport anyone that is. You want to come to this country that's fine but there's a right way to do it! And make higher incentives to keep companies here in the country we all love, AMERICA.

    January 10, 2009 12:23 pm at 12:23 pm |
  21. julio rodriguez

    For one, I was one that voted for OBAMA, do I think he's a God, NO! But he faces the hardest presidency in the history of this country. And YES! BUSH is leaving him with a country that almost reflects the situation of many 3rd world countries; is not going to be easy to get the USA back on track. We do need new jobs and I do agree with one of the comments made, what kind of jobs? I'm in the marketing profession and building a bridge is not my thing – we need to try to keep jobs in the USA and as mentioned here PRODUCE instead of CONSUMING from foreign countries. Understanding that we live in a global economy I can see that we will still need to import many things from other countries but let's start to also produce things that other nations need so that we can benefit from it.

    Obama is a family man and has 2 daughter's to look out for as well, I don't think he wants to destroy the country where his grandchildren will grow; and it is unfortunate that I feel that the worst is yet to come as far as the economy is concerned, and let's face it racism still exists in this country and I do fear that many will blame the "black man" for things that in reality were caused by the BUSH administration.

    January 10, 2009 12:24 pm at 12:24 pm |
  22. Alex

    I believe he can do it. US needs more oppurtunities in energy, manufacturing and trading. Should stop all the trading with Asian countries and should start production in the US itself. If he could stop all the IT outsourcing work being carried out in INDIA, atleast a 3 million jobs will open in the US.

    January 10, 2009 12:24 pm at 12:24 pm |
  23. Joyce

    Wow, Andy and you other Obama bashers sure are idiots. Are you afraid of "immigrants" because they know how to spell, or at least use spell-check, better than you?

    January 10, 2009 12:24 pm at 12:24 pm |
  24. Alex

    Obama has a pdf on this plan which it includes a chart. They are saying that the hit would be much harder doing 0, which is common sense. What you republicans want... do nothing... let's see what you are going to say when you your self will be unemployed and homeless

    January 10, 2009 12:26 pm at 12:26 pm |
  25. Doug

    ken... no tickets for speeding? thats NOT practical at all. That gives NOTHING back to anybody. if anything, it makes driving MORE dangerous because people will go as fast as they want. If you really want to have something given back, the government needs to take a portion of that proposed bailout, and give a portion of it to every working person in america who files taxes this year. base the amount given back on their income! thats a MUCH better stimulus than giving it to failing car companies or banks who's CEO's will pocket the money. People will either be smart and save that money, or spend it, this stimulating both BANKS and the economy. its a win-win.

    January 10, 2009 12:26 pm at 12:26 pm |
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