Obama pitches economic plan to American people

President Barack Obama took his case for a massive economic stimulus package directly to the recession-weary American people on Monday as he urged Congress to move swiftly on a final bill before the crisis worsens.

Holding his first news conference since taking office, Obama pressed lawmakers to "act without delay in the coming week" to resolve differences over an $800 billion-plus economic rescue plan expected to help define his young presidency.

"With the private sector so weakened by this recession, the federal government is the only entity left with the resources to jolt our economy back to life," Obama said as he began a televised prime-time appearance in the East Room of the White House 20 days after his historic inauguration

Sandwiched between campaign-style trips to economically blighted areas in Indiana and Florida, it gave Obama a chance to pitch his solutions for confronting the worst financial meltdown since the Great Depression.

The new Democratic president also hoped to regain momentum following a week in which a key cabinet nominee withdrew in a flap over unpaid taxes and his push for the stimulus plan hit unexpected snags in the Democratic-led Congress.

It remained to be seen, however, whether his words -- spoken in the calm, deliberative tone that helped him win the presidency -- would be enough to ease Americans' anxieties and stabilize jittery world markets.

Despite an ideological split along party lines, the House of Representatives approved an $819 billion economic recovery plan last week.

Just hours before Obama stood in front of the cameras, the Senate moved a step closer to passing its own bill, setting up a vote on a $838 billion emergency package on Tuesday.

But delays in fashioning compromise legislation, a mix of government spending and tax breaks, could prevent Congress from delivering a final bill to Obama by his deadline this weekend.

While the economy topped the agenda, Obama was also expected to face questions about his early foray into foreign policy as he seeks to repair America's image abroad. Issues were likely to include the wars in Iraq and Afghanistan and the nuclear standoff with Iran, challenges bequeathed to him by his predecessor, George W. Bush.

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