White House claims rescue effort saved three million jobs

07-14-2010 • RawStory.com

President Barack Obama's White House will argue Wednesday that its policies have saved or created three million US jobs, as it battles to convince Americans the economic recovery remains on track. Vice President Joseph Biden and top adviser Christina Romer will make the case for Obama's handling of the economy, which has come under withering criticism from voters and pundits. Obama's two lieutenants will unveil a study which claims stimulus spending "saved or created about three million American jobs," according to officials. In February 2009, Obama signed a 787 billion dollar stimulus package aimed at propping up the US economy, which was still teetering after the collapse of the real estate market and key Wall Street banks. Romer and Biden will argue that cash is on course to help "save or create" 3.5 million new jobs by the end of this year, but the administration admits it faces a tough challenge in convincing voters.