President Barack Obama delivered a speech today over radio, television and the internet regarding the urgent need for his economic stimulus package. Obama plans on delivering weekly addresses to the American people on each Saturday for the foreseeable future.

Barack Obama

Barack Obama Weekly Address

On Saturday morning, Obama addressed the nation in order to promote his $825 billion economic stimulus package. He stated that the economy is currently in a dire situation and requires urgent action to avoid a prolonged recession. According to Obama, his stimulus package will bring over two million jobs to ordinary Americans, who are currently facing the prospect of a double-digit unemployment rate this year.

Obama also announced the creation of a new website, www.recovery.gov, which will provide details on how his administration will spend the enormous stimulus package. According to Obama, the website will be a part of his plan to create a more transparent government.

Regarding the $825 billion plan, to quote Obama: “This is not just a short-term program to boost employment. It’s one that will invest in our most important priorities like energy and education, health care and a new infrastructure that is necessary to keep us strong and competitive in the 21st century.”

The key to the new economy, according to Obama, is clean energy. Obama plans on investing in biofuels and alternative energy industries to promote job growth. Under his administration, we will supposedly have 2.5 millions homes “weatherized,” and 10,000 “modernized” schools.

Obama’s stimulus plan is a tough pill for conservatives to swallow. As reported by Michelle Malkin, only a tiny proportion of the stimulus package will actually reach the economy this year. Given how slow the government moves, the vast majority of the $825 billion spent under the plan will not reach the American taxpayers until 2010. By then, according to most economic forecasts, the recession should be over.

Thus, we could be facing a nice trillion dollar deficit for a stimulus plan that won’t help us until AFTER the recession. Does that sound like a good idea?

You can see full video of Obama’s weekly address below:


Obama Weekly Address