WASHINGTON (AP) -- Eager to show action on the ailing U.S. economy, President Barack Obama promised Monday to speed federal money into hundreds of public works projects in the next few months, vowing that 600,000 jobs will be created or saved.

Surrounded by his Cabinet, Obama emphasized what has become a dominant issue of public concern -- an economy that keeps bleeding jobs -- on the day after returning from a week of diplomacy and sightseeing in the Middle East and Europe.

He concentrated in his remarks on the billions of dollars from a taxpayer-funded plan that will be disbursed over the next three months, although much what he was described was already in the works, spurring new debate about just how much the $787 billion stimulus plan is helping so far.

"We've done more than ever, faster than ever, more responsibility than ever, to get the gears of the economy moving again," Obama said.

Based on the work carried out across a broad spectrum of federal agencies during the first 100 days of the administration, Obama said, "we're in a position to really accelerate."

The jobs cover an array of public works ranging from parks and wastewater projects to improvements at military facilities, airports and veteran medical centers.

The ramp-up is not surprising; the administration had always viewed the summer as a peak for stimulus spending, as better weather permits more public works construction and federal agencies had processed requests. The event allowed Obama to remind the US, on his own terms, that help is on the way.

Republicans remain critical of the stimulus spending, slamming it as a big government program that ultimately will do little for recovery. With only a fraction of the federal money actually spent thus far, it is premature to give the stimulus plan credit for economic trends, many congressional Republicans say.

The government reported last week that the number of unemployed continues to rise; the unemployment rate now sits at 9.4 percent, the highest in more than 25 years. Hundreds of thousands of Americans continue to lose jobs each month, although fewer jobs were lost last month than expected.

Obama called the smaller-than-expected slashing of jobs a sign that the economy was moving in the right direction. But he cautioned bluntly that "we're still in the middle of a very deep recession" and that "it's going to take a considerable amount of time for us to pull out of."

The president said he understands the hardships of people who have lost jobs, homes and financial stability.

here is one of my concerns with this whole 'stimulus'.

I have heard they are giving tax breaks to people making under a certain amount, however, is it just me or has anyone else noticed the tax increases being implemented.

The government wants to tax you less on payroll but in my local area, court filing costs have increased, insurance rates have increased, homeowner insurance rates also increasing, smokes have increased, gas is increasing, etc., how is this tax break supposed to help me when in the long run I will be paying more than before this whole 'stimulus' package was thought of.

sorry just one of those days

good point fran.

Sorry didn't mean to kill your thread.

I am waiting for the promised 'stimulus', I can tell you right now I am not very stimulated at all.

nah...I just started this thread...not dead YET

I don't feel "stimulated" myself. when cuts are made...something else goes up. so there isn't really any breaks IMO

I have a brush krupa...let me sscrub your toilet

Economic recovery cannot happen as fast as people would like it to anyway.

There are too many cogs that have fit and start turning again for it to happen.

We are being too impatient.

I understand though People are suffering.

It was a long process to get to this point of economic downfall and it is usually a longer process to reverse it.

Obama is doing all that his financial advisors have told him would help, sadly we have to wait and see.

As for the raise in prices, companies are trying to make up for shortfalls by increasing prices, it was bound to happen with the economy being bad. It is also one of the reason it takes so long to recover from this type of thing.

I do understand that it doesn't happen over night...I just see it being done all the wrong way. I would be patient if I saw that it would work....but a lot of things don't add up to me (no pun intended)

Take $300 Bil of that and give $1 Mil to every citizen (with a priority on paying off bills 1st). Economy stimulated and Bil left to work on Public Works.

This all makes sense and I am a fairly patient person, but I am referring to my government - giving me tax breaks with one hand and charging me more taxes and fees with the other.

Everything here locally has gone up, elec, insurance, cigs, gas, food, every year stuff goes up so I don't see it as adding on, it's our local folks raising yet again. In turn everyone feels justified in raising prices as well. It's not just the fed gov raising taxes.

My home owner taxed when up here as well, probably other stuff I am not thinking of right now.

Besides the minute you get a break from the fed gov, you can expect everyone will want to take that money from you in higher prices.

I don't like to hear presidents say they understand our pain, makes me want to punch them.. LOL

exactly - they take less from my left hand and charge the hell out of my right hand. wondering who in reality is benefiting from this 'stimulus'. Cuz it ain't me

guess I am just a grouch today - but not feeling stimulated in the least

Imagine what the 700 billion (proposed) could have done, given to people.


It would have been both - benefit to the people (paying off stuff and buying ~ stimulating the economy, stimulating the businesses and basically everything) and by the time reaches the investors and banks, with the interest it would have tripled and even the banks would have walked away with much more than any bailout.

Obviously, the bailouts were the biggest heist ever done in history of humanity, and unfortunately most people refuse to even realize this, others can't comprehend it, due to not understanding anything about debt, money, credit, and simple accounting.

So..which one will it be? It does matter ya know..

How about this:


http://www.upi.com/news/issueoftheday/2009/06/05/Job-losses-slow-but-economy-still-getting-worse/UPI-81691244218028/

But..isn't that normal? Homeowner's taxes, etc. go up every year.

I wouldn't describe the current status as "normal" .

Yes, things get more expensive by the time but let's look at what is happening, how the Federal Reserve is pumping more money into the system while things get more expensive.

This will lead to inflation ~ dollar loosing its value. In this current status quo...this could get very ugly very quick.

I still believe that some of the "earmarks" could be spent on better things to help the people. things like blueberries and sidewalks or the state's and city's responsibility IMO. there are things that can be put on the back burner until the economy and work force is where it should be.

when someone is in debt or struggling...do you pay what is in need first or go to a movie?

cutting taxes on one thing but raising them on others...isn't cutting anything

JMO of course

that's my point I thought this whole stimulus package was to help local government and us the taxpayers.

So far my local govt is losing employees, increasing fees, making up for budgeting deficits, cutting services this is not really stimulating for me.

I would think homeowner's tax go down when the property values goes down.

By BRETT J. BLACKLEDGE and MATT APUZZO, Associated Press Writers Brett J. Blackledge And Matt Apuzzo, Associated Press Writers – 55 mins ago
WASHINGTON – President Barack Obama assured the nation his recovery plan was on track Monday, scrambling to calm Americans unnerved by unemployment rates still persistently rising nearly four months after he signed the biggest economic stimulus in history.

Obama admitted his own dissatisfaction with the progress but said his administration would ramp up stimulus spending in the coming months. The White House acknowledged it has spent only $44 billion, or 5 percent, of the $787 billion stimulus, but that total has always been expected to rise sharply this summer.

http://news.yahoo.com/s/ap/20090608/ap_on_go_pr_wh/us_obama_stimulus