Plans have been etched out by President Barack Obama and the House Democrats for an $825 billion stimulus package in the past weeks up to the president's inauguration. Also, two House committees have amended and modified the provisions for $550 billion in spending and $275 billion in tax cuts over the previous two weeks.
During a meeting with a dozen CEO's including Sam Palmisano from IBM and Dave Cote from Honeywell President Obama said, "The businesses that are shedding new jobs to stay afloat...and all those who live in fear that theirs will be the next job cut-they need help now. They are looking to Washington for action...bold and swift."
In a last big push before the House votes on an economic stimulus package. President Obama said on Wednesday that the country needs immediate action to solve rampant job loss taking place.
"When it comes to rebuilding our economy, we don't have a moment to spare," he said.
"The most critical piece of legislation Congress will consider this session," is what House speaker Nancy Pelosi is calling the bill. Stating that the bill supports jobs, tax cuts and accountability to the taxpayers.
The House has been expecting to vote on the bill, but Republicans are expressing concern about the large amount of spending in the bill and have also criticized the tax cut provisions for not going far enough.
After the meeting President Obama said, "I don't expect 100% agreement from my Republican colleagues, but I hope that we can put politics aside."
"The main message I have is that the statistics every day underscore the urgency of the economic situation," Obama said, " The people expect action."
Many analysts believe that the President will get the support he wants for the bill, even if some Republican concerns aren't met.
Whether or not this version of the bill is passed something needs to be done now! The people definitely are demanding action and as the President said, " We don't have one moment to spare."
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