President Barack Obama Says $787 Billion Stimulus Package Helped Prevent Economic Depression

U.S. President Barack Obama has said the $787 billion stimulus package past under the American Recovery and Reinvestment Act has succeeded in preventing an economic depression and saved or created more than two million jobs.

It has been one year since the American Recovery and Reinvestment Act was passed and according to Obama “it is largely thanks to the recovery act that a second depression is no longer a possibility.”

While Obama called the stimulus package a success he didn’t deny that there were still Americans facing difficult times, saying “millions of Americans are still without jobs, millions more are struggling to make ends meet.”

Republicans have criticized the stimulus package, saying the increase in government spending has done little to alleviate the economic problems facing the country yet Obama defended his position saying “we acted because failure to do so would have led to catastrophe.”

###

Click here for more Political News

About WooEB

WooEB Community is a business, music and social networking community. WooEB provides members with a wealth of applications that enable them to create an in-depth profile within the community. Profiles include an About Me, Background and Lifestyle, Videos, Photo sharing, News, Music, Blogs, unique URL and networking with other members inside the WooEB community. WooEB provides ADit to each member providing them the opportunity to have an exclusive profile (no outside advertising) displaying only banner ads they upload to their pages. Members can run their own ads or give or sell their ad space to advertisers at prices the member sets.

To create your profile sign up and within minutes you too can have your People profile running your ads and building your network with new members daily.

WooEB is owned and operated by TransWorldNews, Inc. a news and press release distribution service.