Obama, McConnell agree the economy is bad, but differ on solutions[SIZE=-1]The state of the economy is bad and the government needs to step in to help, President Barack Obama and Sen. Mitch McConnell said Saturday in their weekly addresses. There is, however, plenty left to debate about what it is the government should do, according to the president and the Republican leader in the Senate.
The president said the good news is that his administration is "moving forward with a sense of urgency," pointing to the White House-backed stimulus package, as well as a new strategy for fixing the nation's financial system.*
"This week the House passed the American Recovery and Reinvestment Plan, which will save or create more than 3 million jobs over the next few years," Obama said. "It puts a tax cut into the pockets of working families, and places a down payment on America's future by investing in energy independence and education, affordable health care, and American infrastructure."
McConnell, while agreeing that a stimulus package is needed, criticized the House bill for being "loaded with wasteful spending."
"At a time when Americans are worried about holding onto their jobs and their homes, and learning to live with less, politicians in Washington shouldn't be spending taxpayer dollars on new cars for government workers or sprucing up federal buildings in Washington," McConnell said.
The senator proposed instead steps to tackle the problems in the mortgage market and a series of tax cuts.
The Senate is set to debate the stimulus bill next week.
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