Stimulus spending this summer will be guided by Vice President Joe Biden's 'Roadmap to recovery,' which he presented to the president Monday.
Bernanke warned Wednesday that federal debt as a share of GDP is approaching highest levels since the early 1950s, after the massive borrowing of World War II.
Even as the president urges Senate Democrats to move quickly, a Congressional Budget Office ruling lowers a hurdle that tripped up the Clinton-era reform effort.
Though Democrats are asking for bipartisan support, the resolution passed Wednesday suggests they are prepared to go it alone on healthcare and education reform.
The plan, which will help fund Obama's healthcare reform and education agenda, is also on track to pass in the Senate Wednesday.
Deficit projections mean even Democrats are looking for ways to trim, some of them gimmicky.
It pledges $30 billion more, amid insurance giant’s record losses.
The plan, projecting a $1.7 trillion deficit, includes a down payment on universal healthcare.
It would buy 4.8 billion Wiis. As a standard mortgage, it would cost $6.7 billion a month.
Once the economy starts growing again, he wants to cut programs that have 'outlived their usefulness.'