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Obama plans to sign stimulus measure Tuesday

(Agencies)
Updated: 2009-02-15 13:56

WASHINGTON – Savoring his first big victory in Congress, US President Barack Obama on Saturday celebrated the newly passed $787 billion economic stimulus bill as a "major milestone on our road to recovery. "

Officials said he would sign the measure on Tuesday in Denver.

US President Barack Obama delivers remarks to members of the Business Council in the East Room of the White House in Washington, February 13, 2009. [Agencies]

Speaking in his weekly radio and Internet address, Obama said, "I will sign this legislation into law shortly, and we'll begin making the immediate investments necessary to put people back to work doing the work America needs done."

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At the same time, he cautioned, "This historic step won't be the end of what we do to turn our economy around, but rather the beginning. The problems that led us into this crisis are deep and widespread, and our response must be equal to the task."

The bill passed Congress on Friday on votes split mostly along party lines, allowing Democratic leaders to deliver on their promise of clearing the legislation by mid-February. The decision to sign it Tuesday in Denver, where Democrats held their national convention last summer, was disclosed by officials on condition of anonymity. They said they were not authorized to discuss the plans.

"It will take time, and it will take effort, but working together, we will turn this crisis into opportunity and emerge from our painful present into a brighter future," the president said.

Obama "now has a bill to sign that will create millions of good-paying jobs and help families and businesses stay afloat financially," said Sen. Max Baucus, a Montana Democrat who was a leading architect of the measure.

"It will shore up our schools and roads and bridges, and infuse cash into new sectors like green energy and technology that will sustain our economy for the long term," he added in a statement.

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