July 26, 2014
WASHINGTON (AP) - President Barack Obama is hailing the economic recovery package while warning much more work is required to fix the ailing economy.
Speaking in the East Room, Obama said congressional passage of the $790 billion bill is critical but only the beginning of what needs to be done to turn the economy around.
He spoke as Congress was poised for a final vote on the legislation.
Obama said other needed actions include implementing the new plan for a $700 billion financial industry bailout program, announcing an effort to stem home foreclosures and reforming the regulation that governs the nation's financial sector.
Obama plans to announce a housing program, perhaps as soon as next week.
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