Obama: government intervention necessary

Obama: government intervention necessary

Obama: government intervention necessary

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KREM.com

Posted on October 22, 2009 at 8:45 AM

President Barack Obama says the federal government is the answer to jump-starting the economy.

 

 

He says the private sector is weak and the government is the only entity with the resources needed to break "a vicious cycle" of job losses and slumping consumer demand.

The president is speaking at a news conference Monday night as he promotes his $800-billion-plus economic stimulus plan that is being considered by Congress.

He says the plan must be big enough and bold enough to meet the size of the crisis. But he also says the plan isn't perfect. And he isn't guaranteeing that everything in the plan will work as the administration hopes.

But he says inaction will turn crisis into a catastrophe.

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