(Washington, DC) -- The economic recovery is on the White House agenda today.
The president takes his sales pitch to Florida -- while in Washington, the Senate takes a final vote on its stimulus package -- and the Treasury Secretary plans to cure the ailing financial industry.
President Obama's revving up support for his huge stimulus plan today in a town that could really use it. He's visiting Fort Myers, Florida...where unemployment has climbed to 10 percent. It's housing market is among the
"The federal government is the only entity left with the resources to jolt our economy back to life," Obama said during his first prime time news conference Monday night.
The President drove home the need for his proposal and painted an economic picture too dire for political games. "The plan that ultimately emerges from Congress must be big enough and bold enough."
The $838 billion stimulus package could clear another key hurdle today when the Senate holds a final ballot. The vote comes as the White House moves ahead on another plan to clean up the country's economic mess.
The President's economic wing man, Treasury Secretary Timothy Geithner will outline rules today for the second half of the $700 billion Wall Street bailout. Along with loosening up credit, the revamped plan will reportedly include better oversight of how the money is spent and help banks take bad debt off their books for good.
"We are going to have to work with banks in an effective way to clean up balance sheets to restore confidence in the marketplace," Obama said.
The President says he's not sure whether more money will be needed in order to accomplish his goal and, if so, how much.
(Susan Roberts, CBS News)