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Obama Tries to Bolster Republican Support For Stimulus

President Obama headed to Capitol Hill Tuesday to try to garner bipartisan support for his economic stimulus plan, which some Republican congressional leaders have criticized for not doing enough to create and preserve jobs. Ray Suarez reports.

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  • JIM LEHRER:

    President Obama pressed his campaign for quick action on economic stimulus today. He marked his first full week in office with a pitch for support from Republicans as well as Democrats.

    Ray Suarez has our report.

  • RAY SUAREZ:

    The president headed to Capitol Hill today in a bid to win skeptical Republican support for his $825 billion stimulus plan. His meetings with the Republican leadership came as the recession, now entering its second year, is deepening.

    Yesterday, some of America's largest companies announced new cuts, totaling 75,000 jobs in the U.S. and around the world. The latest nationwide unemployment rate of 7.2 percent is already the highest in 16 years.

    After meeting top House members, the president spoke to reporters.

  • U.S. PRESIDENT BARACK OBAMA:

    As I explained to the Republican House Caucus and I will explain to my former Senate colleagues, the recovery package that we've proposed and is moving its way through Congress is just one leg in a multi-legged stool.

    We're still going to have to have much better financial regulation. We've got to get credit flowing again. We're going to have to deal with the troubled assets that many banks are still carrying and that make the — that have locked up the credit system.

    There are some legitimate philosophical differences with parts of my plan that the Republicans have, and I respect that. In some cases, they may just not be as familiar with what's in the package as I would like.

    I don't expect 100 percent agreement from my Republican colleagues, but I do hope that we can all put politics aside and do the American people's business right now.