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Stimulus may soften, not end, recession

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Since his Jan. 20 inauguration, the new chief executive has wooed Republicans by visiting Capitol Hill for private sessions and inviting them to the White House for consultations.

On Sunday, Obama hosted a bipartisan group of lawmakers for a Super Bowl party.

In his Jan. 31 radio and video address to the nation, Obama argued that the bill is necessary because it would create 3 million jobs, as well as make downpayments on needed investments in healthcare, education, and infrastructure.

But economic recovery will take years, not months, said Obama. “No one bill, no matter how comprehensive, can cure what ails our economy,” he said.

Republicans have pledged to work with Obama as he tries to fulfill his campaign pledge of bipartisanship.

But the GOP remains opposed to much of the spending contained in the economic recovery package. The bill is part stimulus, part long-term reshaping of US domestic spending, many Republicans complain.

The plan “falls far short of the president’s vision for a bill that creates jobs and puts us on a path to long-term economic health,” said Senate minority leader Mitch McConnell in the GOP’s own weekly radio address.

The stimulus bill contains, among other things, $82 billion in tax cuts for individuals, as well as $90 billion in aid for Medicaid programs, $80 billion for a State Stabilization Fund, and $49 billion for energy and water programs.

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