Washington (CNN) - President Barack Obama called Wednesday for Republicans to work with his administration and Democrats in Congress on winding down the federal economic bailout program and creating jobs.
In a brief White House statement after meeting with congressional leaders from both parties, Obama said changing economic conditions since he took office called for new efforts to stimulate job growth.
Acknowledging "less than full bipartisan support" for his stimulus package and other steps "that have broken the free-fall of our economy," Obama said he hoped "we can move forward together."
One step would be ending the Troubled Asset Relief Program (TARP) from the previous administration that bailed out U.S. banks and automakers in danger of collapsing in the recession, Obama said.
"This program has served its original purpose and the cost has been lower than expected," the president said, adding that the savings would help pay down the federal deficit and invest in job creation.
Obama said he would work with congressional leaders from both parties on "how we can structure a plausible scenario to get to medium- and long-term debt reduction," saying such issues were neither Republican nor Democratic.
"I'm absolutely committed to working with anybody who is willing to do the job to make sure we can rebuild our economy," Obama said.
Sen. Mitch McConnell of Kentucky, the top Republican in the Senate, attended the meeting with Obama but signaled continued GOP resistance to the president's agenda, especially sweeping proposals such as health care reform and cap-and-trade energy legislation.
"We're willing to talk about some kind of job-creating measure, but the best thing we could do to get this economy rolling again would be to stop these measures from becoming law," McConnell said.
Such GOP intransigence sometimes bothers Obama, White House Press Secretary Robert Gibbs told his daily news briefing.
"Has the president been frustrated about this? Absolutely," Gibbs said, citing a lack of Republican support for the stimulus package and other steps that helped prevent "another Great Depression."
Now, Gibbs said, Obama was proposing job creation measures previously advocated by Republicans, such as increased investment in infrastructure development, cutting taxes for small businesses and helping them get access to capital.
"But, again, if the president outlines ideas that the Republicans have previously supported, and then Republicans seem unwilling to support the ideas they (previously) supported ..., you can leave it up to others to judge why it is they don't want to participate in a solution that we all agree and we've said in the past would put people back to work," Gibbs said.