President: "Quick Action On Stimulus Needed"

President Barack Obama says he's certain that
unless Congress quickly approves a massive stimulus, the economic
crisis will deepen as will the pain felt by millions of Americans.
In his primetime news conference, the president conceded the
plan "is not perfect" but that bold, quick action is needed to
prevent turning "a crisis into catastrophe."
Obama says the recession has so weakened the economy only the
federal government can jolt it back to life.
The president rejected criticism that the emphasis on federal
action is too great. He said 90 percent of the jobs created by the
plan would be in the private sector, rebuilding crumbling roads,
bridges and other aging infrastructure.
He says his bottom line is to make sure that 4 million jobs are
saved or created.
The president spoke with reporters after the Senate advanced its
$838 billion version of the stimulus toward a final vote as early
as tomorrow.