Obama: "We've rescued our economy from catastrophe."

Jillian Bandes | August 07, 2009 1:35 PM

Obama continued to make his case for why his $787 billion economic stimulus was working in a live press conference that broke the recovery plan into three parts. A third of the money has been for tax relief, he said, claiming that he has kept his promise that 95% of working families had not and will not see their taxes raised. A third of the money went to welfare, or "emergency relief for folks who have born the brunt of this recession." And a third went to public spending, or "vital investments that are putting people back to work today."