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Obama voices frustration over delay on Stimulus bill

President Barack Obama said Friday that the Senate's delay on the passage of his some $900 billion stimulus plan is irresponsible and inexcusable the BBC reported.

"The situation could not be more serious," said the president. "It is time for Congress to act."

Pushed by Obama's reaction, the Senate resumed its efforts Friday to come to an agreement on the plan, the New York Times reported. They are likely to vote on the stimulus bill late Friday according to Democratic Majority Leader Harry Reid.

This all after the Labor Department released a new economic report showing that in January alone, 600,000 Americans lost their jobs; the worst month of job losses in 35 years.

The stimulus bill is largely made up of tax cuts and investments in job creation. Moderate members of both parties are hoping to cut some $90 billion out of the plan, as they jockey and debate for a compromise.

The House of Representatives passed their version of the stimulus package last week, and if the Senate approves their plan, the two versions will have to merged by a joint House-Senate commitee before a final vote. President Obama has said he wants the bill to be completed and on his desk to sign into action by February 16.

“If we succeed, there will be plenty of credit to go around," said Senator Reid, "But if we fail, our entire country will suffer the consequences.?

BBC: http://news.bbc.co.uk/2/hi/americas/7875520.stm
NY Times: http://www.nytimes.com/2009/02/07/us/politics/07stimulus.html?_r=1&hp