44, Day Five
It's the first Saturday for the Obama presidency. And that can only mean one thing: it's the first Saturday radio address for the 44th president (oh, and he did it on the internet too).
-Unsurprisingly, Obama used this first address to talk how bad the economy was and how important his stimulus plans are. "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 ... If we do not act boldly and swiftly, a bad situation could become dramatically worse," he said. He talked about the need to spend more on health care, education, and the nation's roads. Acknowledging that some would be skeptical of about the plan's size and scale, he vowed that his administration would be held accountable. "Instead of politicians doling out money behind a veil of secrecy, decisions about where we invest will be made public, and informed by independent experts whenever possible," he said. Read and watch it here
-The White House released a four-page report outlining the key points of the $825 billion stimulus plan. Among the proposals are some seen as an attempt to woo Republican votes, including expanding the Child Tax Credit. The president plans to spend at least 75 percent of the package within 18 months of passage.
- Obama met with his senior economic advisers, in part to talk about the $825 billion stimulus plan, as well as to discuss how to handle the second half of the $700 billion financial services bailout that was passed last year, according to Reuters.