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. Roy

    If Obama is strong enough to stop the IT works which are outsourced in India and to bring bk to US then its perfect. I hope around 10 million jobs are of US clients in India. 'US for US' if the US clients can find a US company then there is no question of creating jobs. These ll b more than 3 million jobs. Also, should stop consuming gradually from Asian countries by opening a path to consume from the US itself. Hope he ll do it...Good Luck America !!!!!

    January 10, 2009 01:20 pm at 1:20 pm |
  2. T Robertson

    How does anyone govern and make decision on which way a country wants to go when everyone wants to live beyond their means to keep up with the jones. We the people are out of control. We the people are the country that is looking for someone to bail us out. We all need to realize that we are the ones who got us where we are at and this my friends and neighbors is the hard cold truth, We are the problem not the presidents they just are veted in to take the blame. Ever been to a city? 100 000 cars 100 000 drivers 100 000 complaints about the environment 100 000 pompus people complaining about gas prices,,, fight back and just go green, get over ourselves, step up to the plate and lead by example,,,,,MORE MORE MORE we all want more and I say congratulations people we screwed ourselves and our mommys are not going to be there to say there there eveything is going to be allright,,,,suck it up ,,,,
    If this comment hit close to home and pissed you off , have a beer and smile cause you just accepted the truth. Go farming. Save the earth.

    January 10, 2009 01:20 pm at 1:20 pm |
  3. Ken

    oh, and

    11.) Medical Insurance for all Americans!

    January 10, 2009 01:20 pm at 1:20 pm |
  4. Bryne

    I worry about Obama not doing anything... at this point anything is better than what Bush has done.

    January 10, 2009 01:20 pm at 1:20 pm |
  5. Ronald

    If you think that it is possible to get rid of the immigrants, maybe you should take a drive through the poor side of D.C. and see all the illegals lined up for jobs in the parking lots. People who try to save a buck, pick them up for day labor.
    When Americans decide to pay Americans a real wage for work then the immigrants will leave. It's as simple as that.

    January 10, 2009 01:23 pm at 1:23 pm |
  6. Joseph Marble

    It says 90% to the public sector. My edjumakated guess would be that they plan on giving ( loaning, investing, who knows?) to companies that have smart business plans but have no capital.

    Since getting a loan today for decent rate is like pulling teeth, the U.S. is probably going to act like a bank and give out smart loans. The whole investing in green technology thing, etc.

    There's also the whole infrastructure)roads, schools, hospitals, etc.) that needs repairing. Those jobs are awarded to private contractors who will employ (hopefully legal) workers to fix everything (we hope).

    January 10, 2009 01:23 pm at 1:23 pm |
  7. Jon

    It's amazing how Obama is able to predict the "creation" of millions of jobs. Jobs doing what? Making solar panels, insulating houses, making green lightbulbs or maybe in a nod to the NRA (of the Great Depression) just digging ditches. Obama becomes more messaniac every day. Rather frightening.

    January 10, 2009 01:27 pm at 1:27 pm |
  8. Meh

    Wow. So many negative people! Give the guy a chance, eh? I'm tired of the gloom and doom scenereos. Breadlines? Come on.

    Sean> It's not that people are lazy or afraid of getting their hands dirty...it's that these jobs do not pay enough to live in. I know I couldn't survive on min. wage. Could you?

    January 10, 2009 01:28 pm at 1:28 pm |
  9. Tony P.

    Bryce is right on...Mr O is moving away from his statements that he will CREATE jobs and is now saying he will SAVE jobs. The reason is simple, you cannot measure the number of saved jobs. He's really CREATING early excuses.

    January 10, 2009 01:29 pm at 1:29 pm |
  10. Learning

    Over the years, in many ways we've become a nation of selfish "takers." We claim to be a cohesive nations, and flex our might automatically, but for the most part we live in isolation from the rest of the world and from our past's lessons. To me, this points to the remedy for most of our national problems.

    I believe the solution to our woes, our current financial one for example as there are many, rests not in a particular president or congress but in the individuals that made this nation strong in the first place.

    We did not get to where we are currently in overnight fashion. We have personally seized and exploited every opportunity in the interest of self, or perhaps for "the sake of our children" – whatever. My point is that the notion of being conservative and prudent slowly gave way to moderation, which slowly gave way to excess. Of course, all things being relative, we were for the most part blind to seeing it happen. Tradition teaching and guidlines are gone because "we know it all."

    Well, obviously we don't know it all.

    At this time we need to accept that the fix will take time, have casualties; but let it be a lesson we don't forget. We need to humble ourselves to our selfish ways and accept that we simply accept that we can't "have it all now." Contentment with reasonable aspirations and expectations is part of it, the other is the fact in helping others we all win.

    Look to yourself first – what can you do, or not do, to make a difference. It all adds up, and with each of working in concert with a cohesive mindset we'll slowly begin to realize what success really means.

    January 10, 2009 01:29 pm at 1:29 pm |
  11. L

    Ken, you are an idiot. Speedings cool as long as its under twenty miles over the limit. Non violent drug offenders shouldnt be fined or jailed....its cool, its not against the law or anything. You are a moron

    January 10, 2009 01:29 pm at 1:29 pm |
  12. Engineer

    The electrical grid system needs updating! The majority of the systems get their design from Tomas Edison. (MIT Technology Review, Feb 09 P40) That means mechanical switches and major inefficiencies. Just this upgrade will save all US people hundreds of billions per year!! With out this upgrade we will see more power outages across the country. All of this without the benefits of alternative energy. Plus we can keep money from fuels not used within this country. This is a plan that benefits us all.

    January 10, 2009 01:30 pm at 1:30 pm |
  13. STOP

    1. Stop the war on drugs, it is never going to be won!! Another tactic must be done.
    2. Stop the war in Iraq, stop the war on Terror. Terrorists are not responsible for nearly the deathtoll that is called HEART DISEASE.
    3. If you must have a war force our own criminal prisoners to enlist for the armed forces. Send them to the front lines first.
    4. Don't bail out the banks, if you are going to make changes, modify EVERYBODY's mortgage loans and create strict standards for getting loans going forward. Not everybody is able to buy a house. We need to remember that.
    5. Everybody is so afraid of what will happen if we pull out of Iraq. HELLO, what is our defense budget for? Don't we spend billions annually on DEFENSE? Lets aim a big gun at somebody and shoot it if they cause us problems. Otherwise lets not buy any more big guns!!!


    January 10, 2009 01:31 pm at 1:31 pm |
  14. Evan from Idaho

    Jim, I wonder...since you are apperently better educated, not illiterat, racist, or uninformed are you blaming our situation not on Bush or Obama, or the U.S. Legislature but on the Great Creator.
    Why the profanity? If you have a vocabulary use it and educate with it!

    January 10, 2009 01:31 pm at 1:31 pm |
  15. Billy Peaches

    I am astonished at Obama's whole-hearteded plunge into FDRism. WWII ended the Depression NOT FDR's New Deal. Somebody needs to tell Obama this.

    January 10, 2009 01:31 pm at 1:31 pm |
  16. kitty

    this number is increasing daily. is it that easy that i'll say i create x number of jobs and it is created? just wish and so be it! moreover, these jobs will not be comparable to jobs lost. construction jobs will disappear after constructions are done. i'm afraid we are digging a bigger hole just to show some action.

    January 10, 2009 01:31 pm at 1:31 pm |
  17. CP in auto industry

    The Thing we need is PROTECTIONISM. I'm sick and tired of hearing why we cannot tarrif Chinese goods. WHY NOT? they don't buy anything of ours; they aren't free to. Wal-Mart can go and move over there. I refuse to buy anything in China, thats why I dont buy anything. Want me to spend my money? don't paint it with lead, don't put rat poison in it and for god sakes make these migrants wash thier hands when they handle the tomatoes!
    FDA needs to be fired and tripled in size with only people that have children; no way someone with kids will let this crap in this country.
    Madoff should be stripped naked and left in central park pennyless...
    Any company that shipped jobs overseas should be Triple taxed. and or tarriffed.we Americans can build our own things, like Choppers.

    January 10, 2009 01:32 pm at 1:32 pm |
  18. Wisest one of All

    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 01:32 pm at 1:32 pm |
  19. David Allen

    One major reason for the strong unemployment situation is that years ago we started shipping the jobs of substance (manufacturing and technical) abroad. We left the service job behind and I believe most of the jobs lost are somewhat service related. Service jobs are good but somewhat fragile.
    The manufacturing jobs lost are due to making things that people do not need or want.
    Can anyone tell me which of the jobs that have been shipped abroad were lost?
    I am sure that if those jobs were here, they would help to stabilize the situation since they would provide the ability to purchase some of the services provided.
    I hope the government add this to their list of things to revise.

    January 10, 2009 01:34 pm at 1:34 pm |
  20. johntedder

    Barack Obama hasn't been sworn in yet. Why don't you give him 5 minutes as president before you start complaining? We should all rejoice and be thankful that Bush will not be president in 10 more days.

    January 10, 2009 01:34 pm at 1:34 pm |
  21. Meh

    Personally, I think the Infrastructure idea could work. 1. It's something that needs to be done anyway. The roads, bridges, and dams in this country are deplorable and downright dangerous! 2. These jobs COULD lead to manufacturing jobs...someone needs to make the equipment they're using...and maybe they will be forced to buy American. 3. Could also lead to admin. jobs since someone needs to handle all the paperwork involved. I think it's all interconnected.

    Ken> I take it you have a messy front yard? You seem to be really upset that people are fined for this. Why shouldn't they be?? It brings down the values of the other homes in the neighborhood.

    January 10, 2009 01:34 pm at 1:34 pm |
  22. 55 and need help...

    I need health insurance. I have a college degree and can't get a job. I am also a paralegal. I am diabetic. I have to be a member of a group (employed in a group) in order to get health insurance. I can't find a job.

    Governor Arnold has caused unemployment in California.

    January 10, 2009 01:35 pm at 1:35 pm |
  23. larry

    Time will tell. If he is HORRIBLE he will be a thousand times better than the train wreck, AKA Bush/Cheney, than we've been going through for the past eight long years.

    January 10, 2009 01:37 pm at 1:37 pm |
  24. Blog Smith

    With each Saturday radio address the "job creation" number grows. Obama, try to create one more new job before inflating non-existing growth each week. The American people deserve results and transparency.

    January 10, 2009 01:37 pm at 1:37 pm |
  25. Proud American

    Wow after reading some of these Idiot comments, it appears to me he should put the money into education because that's where it's needed. What a bunch of Idiots.

    January 10, 2009 01:37 pm at 1:37 pm |
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