ABC News’ Karen Travers reports:
Vice President Joe Biden said today that it is “taking a while” for the nation’s economy to “get out of this ditch” but credited the Obama Administration’s stimulus legislation, enacted one year ago, for laying a foundation for long-term economic growth.
The vice president traveled to Saginaw, MI to tout the Obama Administration’s $787 billion stimulus plan, ahead of tomorrow’s one-year anniversary of the president signing it into law.
“The recovery act is working, it’s not only helping Saginaw get back on its feet, it’s the laying the foundation for long term recovery in the future,” the vice president said in remarks at Delta College. “It’s taking a while to get out of this ditch, but it’s working. It’s working. The act has succeeded in helping pull us back from the brink.”
Michigan’s economy has been hard hit by the downturn in the U.S. auto industry and the housing crisis. The state’s unemployment stands at 14.6 percent, the highest in the nation.
Biden toured a chemical processing training center at Delta College and met with business leaders, local officials, and workers at a diner in Saginaw. He also visited the Hemlock Semi-conductor plant, a solar cell material factory, which received over $140 million in clean energy tax credits under the stimulus act.
Biden’s day in Michigan kicks off a push this week by the Obama Administration to tout the stimulus legislation’s effect on the economy. The administration says the $787 billion legislation has helped create or save 1.5-2.4 million jobs. Tomorrow the vice president will present a report to Obama detailing how the stimulus legislation has worked at the one-year mark.
Over the next several days administration officials will visit 35 communities to check on the progress of the Recovery Act. President Obama will mark the anniversary with an event at the White House on Wednesday highlighting Americans who have benefited from the federal funding.