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Upbeat Obama addresses Congress Upbeat Obama addresses Congress
(10 minutes later)
US President Barack Obama is addressing a joint session of Congress for the first time, warning that a "day of reckoning" has arrived for the US.US President Barack Obama is addressing a joint session of Congress for the first time, warning that a "day of reckoning" has arrived for the US.
Stressing the severity of the economic crisis, Mr Obama told lawmakers the US will emerge stronger when it ended.Stressing the severity of the economic crisis, Mr Obama told lawmakers the US will emerge stronger when it ended.
"We will rebuild, we will recover," Mr Obama said, adding: "Now is the time to act boldly and wisely.""We will rebuild, we will recover," Mr Obama said, adding: "Now is the time to act boldly and wisely."
Mr Obama has seen Congress pass a $787bn (£545bn) economic stimulus plan and is preparing to announce a budget.Mr Obama has seen Congress pass a $787bn (£545bn) economic stimulus plan and is preparing to announce a budget.
In the speech to a joint session of the House of Representatives and the Senate, Mr Obama emphasised that his hard-fought stimulus bill - which includes efforts to save or create 3.5m jobs - will help restore growth, correspondents say. In the speech to a joint session of the House of Representatives and the Senate, Mr Obama emphasised that his hard-fought stimulus bill - which includes efforts to save or create 3.5m jobs - will help restore growth, correspondents say. I hope it's not all economy tonight. Mr Obama (in his non-state of the union) needs to address Afghanistan Justin WebbBBC North America Editor class="" href="http://www.bbc.co.uk/blogs/thereporters/justinwebb/2009/02/what_will_obama_talk_about.html">Read Justin Webb's blog
An era of extravagant spending must end, the president told Congress. I hope it's not all economy tonight. Mr Obama (in his non-state of the union) needs to address Afghanistan Justin WebbBBC North America Editor class="" href="http://www.bbc.co.uk/blogs/thereporters/justinwebb/2009/02/what_will_obama_talk_about.html">Read Justin Webb's blog class="" href="http://newsforums.bbc.co.uk/nol/thread.jspa?forumID=6111&edition=1">Send us your reaction An era of extravagant spending must end, the president told Congress.
Outlining what he saw as the roots of the economic crisis, Mr Obama told congressmen that short-term gains had been prized over long-term prosperity.Outlining what he saw as the roots of the economic crisis, Mr Obama told congressmen that short-term gains had been prized over long-term prosperity.
"And all the while, critical debates and difficult decisions were put off for some other time on some other day," he said."And all the while, critical debates and difficult decisions were put off for some other time on some other day," he said.
"Well, that day of reckoning has arrived, and the time to take charge of our future is here.""Well, that day of reckoning has arrived, and the time to take charge of our future is here."
Quick workQuick work
He praised Congress for passing the economic stimulus plan, which he said would create millions of jobs and revitalise the US, and deliver a tax cut to 95% of Americans by 1 April.He praised Congress for passing the economic stimulus plan, which he said would create millions of jobs and revitalise the US, and deliver a tax cut to 95% of Americans by 1 April.
The first month of Mr Obama's presidency has included a banking bail-out and a plan to support homeowners struggling with mortgages, as well as the passage of the stimulus plan. The first month of Mr Obama's presidency has also included a banking bail-out and a plan to support homeowners struggling with mortgages.
He is due to unveil his first budget later this week with sights set on reducing the giant US budget deficit, currently standing at about $1 trillion. CEOs won't be able to use taxpayer money to pad their paycheques or buy fancy drapes or disappear on a private jet - those days are over Barack ObamaUS President class="" href="http://newsforums.bbc.co.uk/nol/thread.jspa?forumID=6111&edition=1">Send us your reaction He won a standing ovation when he told his audience that banks and bankers taking public money would be fully accountable, vowing that tax dollars would not be frittered away.
"Those days are over," Mr Obama said. "It's not about helping banks, it's about helping people."
The speech came days before the unveiling of the administration's first budget, with sights set on reducing the giant US budget deficit, currently standing at about $1 trillion.
The budget plan will provide a vision for America and a blueprint for the future, the Associated Press reports Mr Obama as saying, although the president is preparing to warn that sacrifices must also be made.The budget plan will provide a vision for America and a blueprint for the future, the Associated Press reports Mr Obama as saying, although the president is preparing to warn that sacrifices must also be made.
Costly projects prioritised by individual politicians will be among some $2tn of savings that need to be made over the next 10 years, reports say.Costly projects prioritised by individual politicians will be among some $2tn of savings that need to be made over the next 10 years, reports say.
The speech to Congress comes as some of the first polls analysing Mr Obama's level of public support indicate that voters still strongly back the man they chose for office fewer than four months ago.The speech to Congress comes as some of the first polls analysing Mr Obama's level of public support indicate that voters still strongly back the man they chose for office fewer than four months ago.
A New York Times/CBS News poll published ahead of his speech put the president's approval rating at 63%, with a Washington Post/ABC News survey showing 68% support.A New York Times/CBS News poll published ahead of his speech put the president's approval rating at 63%, with a Washington Post/ABC News survey showing 68% support.
Both figures were considerably higher than early-term approval ratings for either of the previous two presidents, George W Bush or Bill Clinton.Both figures were considerably higher than early-term approval ratings for either of the previous two presidents, George W Bush or Bill Clinton.
'American qualities' Republican response
The BBC's Kevin Connolly in Washington says Tuesday's speech will look and feel like the State of the Union addresses which normally come at about this point in the political calendar. The BBC's Kevin Connolly in Washington says the address looks and feels like the State of the Union addresses which normally come at about this point in the political calendar.
What is required now is for this country to pull together... and take responsibility for our future once more Barack ObamaUS President But because Mr Obama is new to office, and therefore not in a position to take responsibility for the triumphs and disasters of 2008, this will be billed simply as an address to the joint houses, our correspondent adds. But because Mr Obama is new to office, and therefore not in a position to take responsibility for the triumphs and disasters of 2008, it has been billed simply as an address to the joint houses, our correspondent adds.
According to a transcript of Mr Obama's speech released in advance, the president was due to tell Congress and the American people that the country will overcome its current problems.
"But while our economy may be weakened and our confidence shaken; though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before."
"Those qualities that have made America the greatest force of progress and prosperity in human history we still possess in ample measure," Mr Obama says.
"What is required now is for this country to pull together, confront boldly the challenges we face, and take responsibility for our future once more."
Jindal response
Mr Obama has said he will halve the budget deficit he inherited from the Bush administration by 2013 - a promise made despite his huge stimulus. A wounded and worried America will hope for re-assurance and inspiration. Kevin ConnollyBBC News Will Obama feed hunger for hope?US and Japan in economy pledgeMr Obama has said he will halve the budget deficit he inherited from the Bush administration by 2013 - a promise made despite his huge stimulus. A wounded and worried America will hope for re-assurance and inspiration. Kevin ConnollyBBC News Will Obama feed hunger for hope?US and Japan in economy pledge
The package, signed after compromises debated in both houses, was designed to channel federal money toward infrastructure projects, health care, renewable energy development and conservation programmes.The package, signed after compromises debated in both houses, was designed to channel federal money toward infrastructure projects, health care, renewable energy development and conservation programmes.
Mr Obama's Treasury Secretary, Timothy Geithner, has also unveiled a comprehensive bank bail-out plan worth at least $1.5 trillion (£1.02 trillion).Mr Obama's Treasury Secretary, Timothy Geithner, has also unveiled a comprehensive bank bail-out plan worth at least $1.5 trillion (£1.02 trillion).
For housing, the government has announced a plan to provide refinancing to four to five million "responsible homeowners" on the verge of defaulting.For housing, the government has announced a plan to provide refinancing to four to five million "responsible homeowners" on the verge of defaulting.
The presidential address - expected to last about 45 minutes - will be followed by a response from Republican Bobby Jindal.The presidential address - expected to last about 45 minutes - will be followed by a response from Republican Bobby Jindal.
The 37-year-old governor of Louisiana - the first Indian-American to occupy such a post - is one of the Republican Party's rising stars, and is tipped as a likely contender for the White House four years from now.The 37-year-old governor of Louisiana - the first Indian-American to occupy such a post - is one of the Republican Party's rising stars, and is tipped as a likely contender for the White House four years from now.