January 3:
http://change.gov/ne...and_reinvestment/
ThatÂs why we need an American Recovery and Reinvestment Plan that not only creates jobs in the short-term but spurs economic growth and competitiveness in the long-term. And this plan must be designed in a new wayÂwe canÂt just fall into the old Washington habit of throwing money at the problem. We must make strategic investments that will serve as a down payment on our long-term economic future. We must demand vigorous oversight and strict accountability for achieving results. And we must restore fiscal responsibility and make the tough choices so that as the economy recovers, the deficit starts to come down. That is how we will achieve the number one goal of my planÂwhich is to create three million new jobs, more than eighty percent of them in the private sector.
Yes, Obama "endorsed" that 75% figure. But let's see what else he said:
http://www.whitehous...etrics_report.pdf
In light of this historic economic weakness, President Obama is working with Congress to enact an American Recovery and Reinvestment Plan, a nationwide effort to create jobs and transform our economy to compete in the 21st century. The plan invests in clean energy, health care, education and infrastructure; cuts taxes for American families and businesses; and helps protect the most vulnerable families from economic harm during the recession. This plan will also break from conventional Washington approaches to spending by ensuring that public dollars are invested effectively and that the economy recovery package is fully transparent and accountable to the American people. Overall, the plan will:
 Create or save 3 to 4 million jobs over the next two years. Independent analyses by Macroeconomic Advisers and Economy.com have confirmed that the recovery plan will meet this job goal. Jobs created will be in a range of industries from clean energy to health care, with over 90% in the private sector.
 Spend out at least 75% of the package in the first 18 months after passage. By including major fast-spending provisions like tax cuts for middle class families, measures to avoid state health care cuts, and temporary expansions of unemployment insurance, food stamps and health care for unemployed workers, the package will spend out at least 75% of its total commitment within the first 18 months after passage. The Administration will work with Congress to refine this package to ensure that it meets this 75% goal.
It's a goal, not a "promise". HTH!
Cheers,
Scott.