Story Published:
Feb 9, 2009 at 11:21 PM CDT
Story Updated:
Feb 10, 2009 at 12:40 PM CDT
SPRINGFIELD -- President Obama took an hour of primetime television to ramp up urgency for passage of an $827 billion economic stimulus package. The president said any delay in action could potentially create "a negative spiral."
The Senate bill includes tax credits for college students and $1,000 tax cuts for middle class family but Republicans still view it as a massive spending bill.
"Only in Washington would trimming a trillion dollar bill down to $827 billion be called fiscally irresponsible," said Sen. Kit Bond on the Senate floor Monday.
Bond said Missourians are urging him to vote against it by a rate of 4 to 1.
"They want me to vote against it because Missourians know that the only thing about this bill that will stimulate is the national debt and the growth of government," Bond said.
"When I hear that from folks who presided over the doubling of our national debt, I just want them not to engage in revisionist history," Obama said, answering his critics on Monday night.
Sen. Claire McCaskill said, while the bill isn't perfect, every economist agrees government spending is essential.
Obama reiterated that the size of the package is necessary to create or save nearly 4 million jobs. Spending will go to new highways and schools but the president acknowledged that some programs like smoking cessation and sexually transmitted disease prevention should not be included.
The president also tempered expectations, warning that even with its passage, 2009 would be difficult and that any recovery would be slow.
A final Senate vote is scheduled for Tuesday around 11 a.m. It's likely to pass but it's likely not to get many more than 60 votes. Then, the differing House and Senate versions will head to a conference committee.