While speaking at the graduation of the Columbus Police Division's 114th class, President Barack Obama touted his administration's recently enacted economic stimulus plan.
Signed into law by Obama on February 17, the American Recovery and Reinvestment Act is a nearly $800 billion plan designed to stimulate the economy and, according to the Obama administration, create or save over 3 million jobs.
The ARRA had faced heavy Republican opposition while in the Congress, most of which was because Republicans felt they weren't being given a fair opportunity to implement amendments to the bill before it went to the president.
Despite these objections, the bill passed the House on January 28 and the Senate on February 7.
Since its passage, the ARRA has come under heavy criticism for the amount of money it spends, with states like Louisiana declaring it will not even accept the money.
Due to the harsh criticism, Obama has been making a major push to tout the advantages of the program to the American people, making major prime time speeches on television and around the country devoted to the program.
"There were those who argued that our recovery plan was unwise and unnecessary," Obama said in his remarks Friday.
"For those who still doubt the wisdom of our recovery plan, I ask them to talk to the teachers who are still able to teach our children because we passed this plan," Obama said. "I ask them to talk to the nurses who are still able to care for our sick, and the firefighters and first responders who will still be able to keep our communities safe."
"Altogether, this recovery plan will save and create over three and a half million American jobs over the next two years," he continued.
"Because of this plan, those who have lost their jobs in this recession will be able to receive extended unemployment benefits and continued health care coverage." Obama added. "Because of this plan, 95 percent of working Americans will receive a tax break that you will see in your paychecks starting on April 1st."
Still, Obama did admit that, by itself, "this recovery plan won't turn our economy around or solve every problem."
"That's the work we must continue in the days and months ahead," the president said. "That's why my administration is also moving quickly and aggressively to restart lending for families and businesses; to help responsible homeowners pay their mortgages and refinance their homes; to address the major economic challenges of our time: the cost of health care, our dependence on foreign oil, the state of our schools."
Obama noted, "All of this takes time and it will take patience. It will entail great effort and cooperation."
"But most of all, it will require a renewed sense of responsibility from every American -- a responsibility to ourselves and one another; a responsibility that's already been demonstrated by the men and women who are sitting behind me here today," he added.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.