President Obama talks plans for the economy

WASHINGTON D.C. - President Obama is meeting with Republican leaders trying to stop his 825-billion dollar stimulus request.

The GOP leaders say the President's plan is not only expensive, but wasteful.

Still, President Obama argues his plan will create jobs and jump-start the economy.

Exactly a week after his swearing-in, President Obama is heading back to Capitol Hill.

To fight for Republican support on his $825-billion stimulus package.

GOP lawmakers are demanding more tax cuts, less spending and a seat at the President's table.

Monday the senate confirmed Timothy Geithner as Treasury Secretary.

An hour later, the President's economic point man was taking the oath.

Pesident Obama said, "We cannot lose a day because everyday economic picture is darkening."

The 'Change' President rewrote another page of the Bush agenda.

Issuing two orders that tighten fuel efficiency standards and could allow California to toughen emissions standards.

Governor Arnold Schwarzenegger applauded the plan, but it's hardly good news for struggling automakers.

David McCurdy, CEO of Alliace for Auto Manufacture said, "When you have a credit crunch, and an economy as sour as it today, they aren't buying any vehicle."

Now auto parts makers are getting in the growing line for government bailouts as the layoff wave spreads.

Home Depot, Caterpillar, Sprint-Nextel and a handful of other companies announced they're cutting tens of thousands of jobs.

Meanwhile, on Capitol Hill Republicans say their job is to stop spending.

Representative, Marsha Blackburn said, "It's a major spending bill. we all know the best economic stimulus is a job."

While the new President will try to convince them otherwise.