President Barack Obama on Monday pledged to deliver or save more than 600,000 jobs through the $787 billion stimulus plan this summer.
Much of the spending he announced already was in the works, including hundreds of maintenance projects at military bases, about 1,600 state road and airport improvements, and federal money states budgeted for 135,000 teachers, principals and school support staff.
We have a long way to go on our road to recovery, but we are going the right way, Obama said.
The president’s statement came three days after a Labor Department report showed a rise of 9.4 percent in the U.S. unemployment rate in May, the highest rate in 25 years.
We will not grow complacent or rest. Surely and steadily, we will turn this economy around, Obama said.
The White House said the $787 billion stimulus has so far helped save or create 150,000 jobs in the first 100 days since it was signed.
Approximately 6 million jobs have been lost since the beginning of the worst U.S. recession in December 2007.