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Obama’s Stimulus Spending Plan Gets Mixed Reviews

President Barack Obama’s plan to speed up stimulus spending over the summer drew predictable responses from Capitol Hill on Monday, with Democratic leaders praising the move and top Republicans saying it’s not a practical solution to the nation’s economic woes.Speaker Nancy Pelosi (D-Calif.) lauded Obama’s plan to accelerate 10 specific nationwide commitments over the next 100 days in an effort to save or create 600,000 jobs.“Congress will continue to work with the administration to get recovery dollars to the places where they will make the most difference, while ensuring strict accountability and transparency,— said Pelosi. Pelosi said the $787 billion stimulus bill signed into law earlier this year is already “beginning to help communities and businesses across the country save jobs and put people back to work.— But Congressional Republicans complained that the initiative will translate to more wasteful government spending.House Minority Leader John Boehner (R-Ohio) said Obama’s announcement is a sign that “the Democrats’ trillion-dollar stimulus is not working.—Despite Democratic promises of immediate job creation since passage of stimulus legislation, “unemployment has continued to climb and none of their rosy predictions have come true,— Boehner said.“I’m very skeptical that the spending binge that we’re on is going to produce much good, and even if it does, anytime soon,— added Senate Minority Leader Mitch McConnell (R-Ky.).Sen. John Cornyn (R-Texas), the chairman of the National Republican Senatorial Committee, warned that “spending more money faster is not a serious solution.—Since January, the Obama administration has “muscled through a $1 trillion stimulus bill, taken over the banking and car industries and are now attempting a Washington takeover of the health care industry,— said Cornyn.“Now they say the problem isn’t that we aren’t spending too much, the problem is we aren’t spending it fast enough,— Cornyn said. “This fiscal insanity must stop.—