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White House claims rescue effort saved three million jobs

By Agence France-Presse
Wednesday, July 14, 2010 11:41 EDT
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President Barack Obama’s White House will argue Wednesday that its policies have saved or created three million US jobs, as it battles to convince Americans the economic recovery remains on track.

Vice President Joseph Biden and top adviser Christina Romer will make the case for Obama’s handling of the economy, which has come under withering criticism from voters and pundits.

Obama’s two lieutenants will unveil a study which claims stimulus spending “saved or created about three million American jobs,” according to officials.

In February 2009, Obama signed a 787 billion dollar stimulus package aimed at propping up the US economy, which was still teetering after the collapse of the real estate market and key Wall Street banks.

Romer and Biden will argue that cash is on course to help “save or create” 3.5 million new jobs by the end of this year, but the administration admits it faces a tough challenge in convincing voters.

With more than eight million jobs lost since the recession began in late 2007, almost one in ten American workers is still without a job.

In a poll published this week 43 percent of those surveyed said they approved of Obama’s handling of the economy.

The Washington Post-ABC News poll showed US voters’ trust in President Obama’s ability to get his job done has slid to a new low.

More than one third of voters surveyed — 36 percent — said they had “no confidence or only some confidence” in the president, congressional Democrats and congressional Republicans, the poll found.

Again trying to recast an issue that threatens to define his presidency, Obama will travel to Holland, Michigan Thursday, where he plans to highlight one area where stimulus spending had spurred the growth of new jobs.

He will attend the opening of an advanced battery plant which received part of a 2.4 billion dollar fund to build battery and electric vehicle technology.

Obama signed the 787 billion dollar stimulus package in February 2009, aimed at propping up the US economy, which was still teetering after the collapse of the real estate market and key Wall Street banks.

Almost one in 10 American workers is still without a job and unemployment stands at 9.5 percent.

In a poll published this week only 43 percent of those surveyed said they approved of Obama’s handling of the economy.

The Washington Post-ABC News poll showed US voters’ trust in President Obama’s ability to get his job done has slid to a new low.

More than one third of voters surveyed — 36 percent — said they had “no confidence or only some confidence” in the president, congressional Democrats and congressional Republicans, the poll found.

And only 27 percent of those surveyed said they thought the economy was getting better.

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
 
 
 
 
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