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Obama: Stimulus plan means lower power billsPresident says U.S. could 'lose a generation of potential' if action isn't taken
The Associated Press - updated 8:24 a.m. PT, Sat., Jan. 24, 2009WASHINGTON - President Barack Obama on Saturday laid out more pieces of an economic plan he says would add 3,000 miles of electrical lines, increase security at 90 ports and double the United States' renewable energy capacity within three years.
It was the latest appeal from the new president for a massive spending bill designed to inject almost a trillion dollars into a flailing U.S. economy and to fulfill campaign pledges. As members of Congress consider an $825 billion plan and Obama woos them, his White House released a radio and Internet address directed at voters who want answers.
"Our economy could fall $1 trillion short of its full capacity, which translates into more than $12,000 in lost income for a family of four. And we could lose a generation of potential, as more young Americans are forced to forgo college dreams or the chance to train for the jobs of the future," Obama said in a five-minute address that the White House released early Saturday.
"In short, if we do not act boldly and swiftly, a bad situation could become dramatically worse."
Along with the speech, Obama's economic team released a report designed to outline tangible benefits of the plan and shore up support. Aides said they wanted people to understand exactly what they could expect — more schools, lower electricity bills — if their members of Congress supported the proposed legislation.
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