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. Mike Dallas

    To all the folks complaining about the government making jobs. Would you rather the taxpayer pay the weekly unemployment or have the folks at least working and producing improvements in the country?

    Do not kid yourselve, the taxpayer will be on the hook, either for the unemployment after the states exhaust the money they have allocated, increased Medicaid costs due to lost health insurance, and additional funds needed for food stamps and extended unemployment funds. Will the created jobs be desk jobs? Probably not, but they will put construction workers back to work and food on the table and health insurance for the kids. They will probably be minimum wage positions, and at least we the taxpayers our getting something for the money spent. At least the folks are not sitting on the couch waiting for the next unemployment check because they cannot find a job.

    Try not to be so narrow minded, wake up and realize we are in deep dung and right now private investors and institutions are not and will not be hiring anytime soon. The government must step in and provide the jolt. That can be done by making jobs or paying out benefits for no productivity.

    Think, people, think.

    January 10, 2009 01:05 pm at 1:05 pm |
  2. Richard

    OBAMA LISTEN UP!- rebuild our decrepit infrastructure.

    January 10, 2009 01:06 pm at 1:06 pm |
  3. Steven

    P.S. For all those saying we are getting too socialist, you are absolutely right (we need to get back to the Federation of states we once were and the constitution clearly intends us to be, less big Government). For all those saying handouts/bailouts are not the way, you are right (free-market will work itself out) and people should work to make better lives, but they need jobs to be able to pursue that. American based manufacturing (i.e. steel, technologies, etc.) could be required to be the only supplier of these public works...there you go more jobs across the board. And review all current out-of-control spending (defense, corrections system, etc). JAMES OHM=hyperinflation; SANDY=go work in a corn field for $5.50/hour (like I thought)-we need cheap labor; BRYCE=you measure jobs by the unemployment rate duh; GALE=yes that's right the problem is "illegals", not a 10 year war, fears of depression, or the failure to educate our children, yes, yes your right, I forgot your ancestors are Native American...ask your parents/spouses/friends how to respond since you obviously can't think intelligently for yourself; GEORGE=There are International laws and trade agreements that don't allow us to raise Tariffs that high;

    January 10, 2009 01:06 pm at 1:06 pm |
  4. Asian

    Obama is doing great for this country

    January 10, 2009 01:07 pm at 1:07 pm |
  5. Vinnie

    He's being more positive and pro-active then Bush ever thought of when it comes to problems that are bogging down this economy.

    If anyone loses their jobs in the next year or two it will be BUSH'S FAULT!!!!!!!!!!! He has done nothing to try and stop this mess except to give money to his buddies in the banking industry, without any oversight.

    January 10, 2009 01:07 pm at 1:07 pm |
  6. Rollie Arceo

    The comment coming from Canada is really an eye opener.
    The Chinese are also getting economically robust, because they stay healthy by their exercises and good food intake. Americans must stay healthy and have a good access to medical attention to stay healthy and be productive. A sick nation can never be productive. The government and the medical industry must look deeper in making the society very healthy to stay productive.

    January 10, 2009 01:07 pm at 1:07 pm |
  7. Lefty

    Oboma isn't sworn into office yet. And he is already being blamed for starting this mess. Bush and Chaney stood by while big bussiness went unchecked. Again Bush and Chaney are responsible for this problem. And people shouldn't forget that.

    January 10, 2009 01:08 pm at 1:08 pm |
  8. SMK

    Why are all the Democrats still falling for what Obama has to say? He's doing exactly like he did to win their vote. Saying what they want to hear without actually saying HOW he is going to do it. He can talk and talk without ever really saying anything. Or haven't you figured that out by now? Let alone the fact he keeps changing what he says. He said he wanted to create 2-3 million new jobs, now he wants to SAVE those jobs. How? There is no way he can save someone’s job, if a company decides to downsize or close. What's he going to do, go to each and every company in the USA and say, no, you can't downsize, you can't lay off that worker, you can't close because your losing money?

    The key to his plan is to PRINT more money, to pay for all these new Created/Saved job. But, he will only create Inflation and throw this Country into an even bigger Depression. How is an extra $500 dollar stimulus going to fix anything? It's not enough for the average person to get out of debt or go on a spending spree. It is the same amount Bush gave to us and all it did was buy a few more months. Maybe he thinks he can buy us off for 4 years and hopes the Country can fix itself by the time his term ends.

    January 10, 2009 01:09 pm at 1:09 pm |
  9. Chris Wallace

    The direct connection between creating this "balloon of potential bounty" and, not just "main street", but "my street" continues to allude me. This at a time when I expect to be laid off next Wednesday. I need stimuli literally next week or my family will begin to suffer.
    I respect Mr. Obama. I cheer for him, his wife, his two daughters, but I have my own wife and three daughters and their Dad is not moving to a new job or office.
    I worked in a besieged high technology market that is rapidly not just leaving America, but being "squeezed" from America towards other shores. I do not see anything in this package relating to me in terms of loans for retraining, grants for retooling or professional certification. In order to benefit from a tax credit, I need to earn. I only see that the amount I can earn in my profession is under pressure to match the same rate paid 12-15000 miles away.
    Technology has been a catalyst for stimulating the American business environment, reducing costs and accellerating productivity and I am among the top of my field. This bleak market however is both highly challenging and unforgiving. We don't need a bail out, we need rungs on which to keep climbing. Large firms will market and leverage to consume the stimulus package funds to bolster their bottom lines, we minority technology professionals will be the first to go (statistics bear this out) and the last to benefit from this attempt to keep America afloat.
    God be with me. The guy I counted on to look out for this sort of thing has moved from the legislative to the executive branch. Mr. Obama was my senator and federal advocate. Mr. Durbin, a very, very good man, remains to do double/triple duty. No one remains to address these issues.
    Godspeed America. God speed Mr. Obama.

    January 10, 2009 01:09 pm at 1:09 pm |
  10. TCM

    this is a hoot! Each time OBama utters a "duh..." the "jobs created," numbers increases...now up to 4 million? What an infommerical;
    This is all a show to try and keep his wavering popularity from declining.....
    what kind of jobs? Paying minimum wage to keep dems poor and dependent on his highness? So, that he secures their vote again in the next election? What sheep! Besides, the lib media keeps spouting about the jobs lost, but never states the jobs gained, or created....what a snow job!

    We all want the country to succeed, and I could eat crow if by some miracle of GOD, he was competent, however, the continual regurgitation of lofty and spacial ideas and concepts ain't gonna put meat n' taters on the table!

    Time to step off your Messiah Podium and try to make a president out of yourself.....for all of us...

    January 10, 2009 01:09 pm at 1:09 pm |
  11. Ken

    Americans deserve more rights for all the bailing out we've done for the rich:

    1.) Take off all restrictions to Cuba. This will increase business.
    2.) People should be allowed to fire fireworks anywhere and not be prohibited by state or city regulations. This will increase business.
    3.) People should be allowed to marry anyone in ANY STATE regardless as to whether they are the same sex. This will increase business.
    4.) Drop the Stalinistic goals of No Child Left Behind Act. 5.) Cities should not be able to seize land owned by citizens in order to increase business.
    6.) Non-violent drug offenders should not be fined or thrown in jail. This will save the government money.
    7.) If you have a messy front yard, you should not be penalized by your government.
    8.) Free wireless Internet for all. This will help out business.
    9.) Stem cell research should be legalized as it will increase work and business.
    10.) Get rid of non-serious driving offense fines, such as the California stop, fining cars for not being moved for over two weeks, ticketing people for not washing their car even though it's in their driveway. I'll concede that speeding is not beneficial to anyone, so yes, Americans should still be ticketed for speeding, but only if they are going 20 miles over the speed limit on freeways or 10 miles over the speed limit in residental areas.

    January 10, 2009 01:09 pm at 1:09 pm |
  12. HM

    Nice BOB. Stand at podiums all week talking about how horrible everything is and then toss off a prop piece on how you have "solved" the problem. Not that easy BOB. In 2 weeks it will be how much "worse" everything really was than expected and that BOB will have to be even more of a miracle worker to get us out of it. Yay BOB.

    January 10, 2009 01:10 pm at 1:10 pm |
  13. Workingwith0

    People! Obama is not going to release his plans/intentions until he is in that house. If he does and the economy rebounds before January 2oth then BUSH can take some credit. American politics is not about " REACHING ACCROSS PARTY LINE" say it is but it's not!

    I've been out of work for 7 Months now and as an imigrant I was able to survive it.But! if after February and I dont see changes I'm moving to Iran, Venezuela, China, or any third world country with a different approach.

    January 10, 2009 01:11 pm at 1:11 pm |
  14. Trevor

    I think everyone just needs to take a step back and look, Obama is walking into a huge mess, hes not backing out, or complaining, in fact hes not even the president yet and hes already working extremely hard. He is an extremely ambitious, smart and determined person. Everyone needs to quit prejudging him. I watched his speech the other day on the economic crisis and he was just so calm, cool and collective. I think he is a brilliant man and will make a great president. He is in the works of making a huge plan, and I totally have faith in him that he could in fact make this country energy dependent, create tons of jobs through that, pull us out of the economic downturn and really put us on the top.

    January 10, 2009 01:12 pm at 1:12 pm |
  15. Lauren

    All is fine and great, but wait until Pelosi and Reid stab Obama right square in the back.

    And you know darn well, NOTHING will get done without pet project, perks, earmarks, etc etc etc.

    Obama may be trying, but congress has nothing but old time rules and selfish motives.

    January 10, 2009 01:13 pm at 1:13 pm |
  16. al canada

    millions of jobs with a new middle east war, first obama says one prez at a time regarding killing babies in gaza, but he sure is talking about jobs…
    millions of jobs doing what? unloading shipping containers from china, that was the last job left in america before the depression hit, now even that is gone.

    January 10, 2009 01:13 pm at 1:13 pm |
  17. Dennis

    During the campaign Obama said he would 'create' this many jobs.

    A few weeks ago, this language has been changed to 'create and save' this many jobs.

    Wondering if this language will change once more to just 'save' this many jobs.

    January 10, 2009 01:14 pm at 1:14 pm |
  18. betsy

    Why are YOU PEOPLE blaming any president. If any of you were educated about how our governmental system is set up, you would remember that we have THREE branches of government–the judical, the legislative, and the executive branches–to disipate power. The congress (the senate and the house of representatives) conceptualize and produce LAW. They come up with our budget. Why aren't any of you questioning your representatives part in any of this?

    January 10, 2009 01:14 pm at 1:14 pm |
  19. paul

    Once again OBAMA and the BIG LIE. 90 % will be in the private sector but he doesnt give one single example, then says 10% will go to police, fire teachers etc............if Americans cannot see though this then they are as stupid as I think they are.............

    January 10, 2009 01:15 pm at 1:15 pm |
  20. Chez

    Socialism is on its way people. You can't fight what's right and what's fair. Everyone needs to be equal from top CEO's to the janitors.

    January 10, 2009 01:15 pm at 1:15 pm |
  21. Larry

    Obama's creating an out for himself and his administration,he has no idea what he is doing,thank God the Democrats and Republicans in Congress are going to be able to stop him.I hope the media,who has no idea about what they are saying either,does not influence the politicians in any way.

    The answer,Reagen said it,"The government is not the solution,it is the problem !"

    January 10, 2009 01:16 pm at 1:16 pm |
  22. Me

    The "crisis" was generated on purpose.

    Obama is going to tax you for everything. Get ready for "change".

    January 10, 2009 01:16 pm at 1:16 pm |
  23. RC

    ..."What a joke!!! Hey lets put more people on the backs of the tax payers…. "Recovery won't happen overnight, and it's likely that things will get worse before they get better. NO KIDDING, THIS PLAN WONT WORK AT ALL!.."

    Um the PE already has said that recovery won't happen overnite, numerous times or have'nt you been listening?

    ..." Politicians will promise the sun and the moon.
    Instead of all these big promises, if they get rid of the 12 million illegals, we will have more jobs and a safe and secure place to live."

    Millions of illegals are being deported back to their countries of orgin and many thousands more are voluntarily returning home to south of the border due to the lack of jobs in the U.S.

    January 10, 2009 01:16 pm at 1:16 pm |
  24. Casey Jones

    Great -he's not even in office yet, and we are getting report/stats with 'potential for great margin of error'.

    Here's an idea: Don't start shooting off stats and figures *without full basis* -just to get more people on your side.

    Fear tactics as a way to garner approval went out in WWII (or at least I thought they did)

    January 10, 2009 01:18 pm at 1:18 pm |
  25. BOO BOO

    Too bad all the people who will fill these jobs are the illegal aliens that he wants to give amnesty.

    January 10, 2009 01:18 pm at 1:18 pm |
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