John Spratt: “But you haven't shown us the arithmetic. We are not sure your arithmetic is correct.”

I think it is a bit irresponsible to at least articulate to the American people, to the Congress, why you think we need a new policy direction.

Failed Republican economic policies had brought the financial system dangerously close to a complete meltdown and had driven the economy into its deepest recession since the 1930s.

The positive impact of the Recovery Act is already being made apparent, and more economic activity will be generated as stimulus dollars continue to spend out.

Under Democratic leadership, the 111th Congress moved swiftly to enact the American Recovery and Reinvestment Act, which has jump started economic activity.