| GEO World | | Stimulus package to create 4 mn jobs: Obama | Updated at: 1525 PST, Tuesday, February 10, 2009
 WASHINGTON: Forecasting that 2009 will be a "difficult year" for the U.S., President Barack Obama on Tuesday assured the country that the $838-billion stimulus package will create 4 million jobs and pledged to bring the economy "back to life".
Addressing his first news conference after assuming office on January 20, Obama said the stimulus plan was "not perfect", but would create up to 4 million new jobs, 90 per cent of which will be generated by the private sector.
Earlier, the Senate cleared the $838 billion version of the legislation by a 61-36 margin, with all but three Republican senators opposing it.
Calling the current economic crisis the "worst" since the Great Depression of the last century, Obama appealed to the Congress to set aside differences and pass the stimulus package as the federal government only can break "vicious cycle" gripping the U.S. economy. |  |
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