October 14th, 2009
03:08 PM ET
5 years ago

Obama defends economic stimulus plan

Obama defends economic stimulus plan.
Obama defends economic stimulus plan.

(CNN) – President Barack Obama defended his administration's $787 billion stimulus plan Wednesday, arguing that it has helped stem the nation's economic slide and spur new job creation.

"As difficult as these times are ... we are moving in the right direction," he said while touring a construction site in Springfield, Virginia.

"Our economy is in better shape today than when I took office."

The effectiveness of the stimulus bill has been hotly debated in recent weeks. The White House has said it is responsible for saving or creating more than 1 million jobs.

Top Republicans, however, claim the stimulus has been a failure. Among other things, they have highlighted the fact that the national unemployment rate has climbed to nearly 10 percent.

–CNN's Tami Luhby contributed to this report


Filed under: President Obama • Stimulus
soundoff (104 Responses)
  1. Tim

    Well, since the economy continues to head down, only a democrat could think that is the right direction.

    Also, the new Government Motors is ramping up to increase output by 45%, yet car sales are continuing to get worse. The wonderful cash for clunkers program basically brought forward all of the purchases that would have happened over the next 12 months, and gave those buyers a subsidy. Now we'll get to see silence in the showrooms for the next 12 months.

    October 14, 2009 04:30 pm at 4:30 pm |
  2. Tim

    Obama has created or saved, or at least didn't destroy, and additional 2 million jobs. Double digit unemployment around the corner. Great job, I hope healthcare works as well.

    October 14, 2009 04:31 pm at 4:31 pm |
  3. Jilli

    He's right, the economy is improving.

    Jobs are always a trailing indicator – it'll come around, we were in one heck of a mess, and it's going to take time to clean it up. I'd venture a guess and say that many of the jobs lost just won't be refilled. I saw this in the 90's, companies streamlined after a recession, and the employment market was changed.

    October 14, 2009 04:35 pm at 4:35 pm |
  4. Right Leaning Independent

    The stimulus may have saved a few jobs but not 1 million. The economy had no where to go but up since Obama took office and it would be doing much better if he had cut taxes and let consumers spend "their" money the way they wanted which in turn would have created jobs. The stimulus did not produce the Bang for the Buck$$$!! Obama can sugar coat it all he wants but the stimulus was more political payback than anything else...

    October 14, 2009 04:40 pm at 4:40 pm |
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