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Saturday, January 10, 2009

Obama Says Economic Critics Should Show Him Ideas

Facing unwelcome resistance from fellow Democrats, President-elect Barack Obama is encouraging critics of his $800 billion economic recovery plan to "just show me" their own ideas. With more than 11 million Americans out of work, Obama pressed Congress for urgent action Friday and said the U.S. is undergoing "a devastating economic crisis that will become more difficult to contain with time."

His warning was underscored by a government report showing that unemployment hit a 16-year high of 7.2 percent in December.

But congressional Democrats are making it clear they want to put their own stamp on the revival plan, despite the inevitable delays. Some Obama ideas, like a $3,000 job creation tax credit, might get scrapped.

Many Democrats aren't thrilled with Obama's business tax cut plans and are griping that there's not enough money in the measure for traditional infrastructure projects like road construction and water projects or for tax credits to promote renewable energy.

Under pressure, Obama aides agreed Friday to increase the money ticketed to energy tax breaks from $10 billion to $20 billion, according to congressional Democratic aides. The Democrats want $30 billion.
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