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On Saturday, January 24th, President Obama gave his first radio and Internet address from the White House. He discussed his plan for the $825 billion government spending plan which he believes will put a stop to the current economic downfall and result in a number of benefits including producing better schools, health care insurance coverage for millions of Americans who are unemployed or likely to become unemployed, and lower electricity bills.

With unemployment higher than it’s been in 26 years, he says “… if we do not act boldly and swiftly, a bad situation could become dramatically worse. That is why I proposed the American recovery and reinvestment plan. To immediately job start job creation as well as long term economic growth. I’m pleased to say that both parties in congress are already hard at work on this plan and I hope to sign it into law in less than a month. It’s a plan that will save or create 3 to 4 million jobs over the next few years and one that recognizes both the paradox and promise of this moment. The fact that there are millions of Americans trying to find work even as all around the country there is so much work to be done.”

The plan calls for, among other things:

  • doubling the capacity of generating alternative fuels, like wind, solar and biofuels over the next 3 years Tax payers would save $2 billion per year, by making 75% of the federal buildings more energy efficient, while helping the average American family save $350 on their energy bill by weatherizing 2.5 million homes.
  • Medical costs will decrease along with improved care through the use of computerized health records within 5 years.
  • Health insurance for people in danger of losing their health insurance will be protected.
  • 10,000 schools will be renovated and modernized to improve learning opportunities for over 5 million students.
  • 7 million more students will benefit from greater investment in Pell Grants, making college more affordable for many families, while 4 million students would receive a $2500 college tax credit.
  • Roadways will be repaired and new options for mass transit will be created for millions of Americans.
  • Securing 90 major ports, and improving communication for the nation’s law enforcement and public safety officials in the event of emergency.

The president realizes that many American’s are skeptical of this plan, and understands it. It’s why he believes in more transparency than ever before, saying, “Instead of politicians dolling out money behind a veil of secrecy, decisions about where we invest will be made public and informed by independent experts whenever possible. We’ll launch an unprecedented effort to rule out waste, inefficiency and unnecessary spending in our government. And every American will be able to see how and where we spend tax payer dollars by going to a new website called Recovery.gov.”

Despite great optimism for the success of the $825 billion spending plan, Obama cautioned against expecting instant results: “No one policy or program will solve the challenges we face right now, nor will this crisis recede in a short period of time.”



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