"And breaking that cycle is exactly what the plan that's moving through Congress is designed to do," Obama said.

The president hopes the expansive stimulus plan will create or save 3 million to 4 million jobs and help revive the economy, which has been in a recession since December 2007.

The Obama administration was waging an aggressive two-front battle against America's worst economic crisis since the Great Depression in the 1930s.

Earlier Tuesday, Treasury Secretary Timothy Geithner unveiled anew financial bailout package that could top US$1.5 trillion to restore the ailing financial system.

"Instead of catalyzing recovery, the financial system is working against recovery. At the same time, the recession is putting greater pressure on banks. This is a dangerous dynamic, and we need to arrest it," warned the Treasury chief.

(Xinhua News Agency February 11, 2009)