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President Obama's First Weekly Presidential Address January 24, 2009

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Barack Obama's first weekly presidential address optimistically launches the recovery and reinvestment plan that will boost the work market and eventually lead to the advancement and betterment of other economic and social areas in America.


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We begin this year and this Administration in the midst of an unprecedented crisis that calls for unprecedented action. Just this week, we saw more people file for unemployment than at any time in the last twenty-six years, and experts agree that if nothing is done, the unemployment rate could reach double digits. 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.

In short, if we do not act boldly and swiftly, a bad situation could become dramatically worse.

That is why I have proposed an American Recovery and Reinvestment Plan to immediately jumpstart job creation as well as long-term economic growth. I am 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.


Courtesy of The White House

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Source: The White House

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President Obama's First Weekly Presidential Address- January 24, 2009

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