Office of the Press Secretary
For Immediate Release January 27, 2009


Ohio Clock Corridor
U.S. Capitol

1:41 P.M. EST

THE PRESIDENT: Hello, everybody. We had a very constructive meeting with the House members, members of the Republican Caucus. I'm a little bit late for my Senate colleagues -- former Senate colleagues.

And the main message I have is that the statistics every day underscore the urgency of the economic situation. The American people expect action. They want us to put together a recovery package that puts people back to work, that creates investments that assure our long-term energy independence, an effective health care system, an education system that works; they want our infrastructure rebuilt, and they want it done wisely, so that we're not wasting taxpayer money.

As I explained to the Republican House Caucus, and I'll explain to my former Senate colleagues, the recovery package that we have proposed and is moving its way through Congress is just one leg in a multi-legged stool. We're still going to have to have much better financial regulation, we've got to get credit flowing again, we're going to have to deal with the troubled assets that many banks are still carrying and that make the -- that have locked up the credit system. We're going to have to coordinate with other countries, because we now have a global problem.


END 1:43 P.M. EST

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