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Friday, January 23, 2009

Obama expects stimulus bill to be ready by mid-Feb



WASHINGTON (Reuters) - President Barack Obama launched a drive on Friday to get his $825 billion economic recovery plan through Congress, predicting lawmakers would resolve differences before a mid-February deadline.
"We are experiencing an unprecedented economic crisis that has to be dealt with and dealt with rapidly," Obama told reporters as he met Democratic and Republican congressional leaders at the White House.
Obama, who was sworn in on Tuesday on a mandate of change, has pledged swift action to rescue the U.S. economy from the worst turmoil in decades. With a daily stream of gloomy economic data, he has warned there is little time to lose.
Winning Republican support for the stimulus package will be an early test of Obama's promise to forge consensus and overcome the partisan politics that bitterly divided Washington under his Republican predecessor, George W. Bush.
In another show of bipartisanship, Obama will meet Republican lawmakers on Capitol Hill on Tuesday to hear their ideas about the stimulus plan, White House spokesman Robert Gibbs said. Bush rarely visited Congress, preferring to send aides and sometimes his vice president, Dick Cheney.
Obama's appeal to Democrats and Republicans to set aside their differences appeared to pay swift dividends, with the most powerful Republican in Congress, Senate Minority Leader Mitch McConnell on Friday calling for a joint effort to fix the economy.
It remains to be seen though how long this honeymoon will last. more

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