President to sign stimulus package
WASHINGTON: President Obama will sign the newly passed $787 billion economic stimulus package on Tuesday in Denver, Colorado, officials said Saturday.
The measure, aimed at combating the worst economic crisis since the Great Depression of the 1930s, marks Obama's first major victory in Congress, less than a month after taking office.
Obama described the bill's passage as a "major milestone on our road to recovery."
Speaking in his weekly radio and Internet address, Obama said, "I will sign this legislation into law shortly, and we'll begin making the immediate investments necessary to put people back to work doing the work America needs done."
At the same time, he cautioned, "The problems that led us into this crisis are deep and widespread, and our response must be equal to the task."
The bill passed on Friday with lawmakers largely voting along party lines, allowing Democratic leaders to deliver on their promise of clearing the legislation by mid-February. The administration said it was aimed at saving or creating 3.5 million jobs.
Agencies
(China Daily 02/16/2009 page7)
