Responding to criticism that the Obama administration's $787 billion in stimulus spending hasn't done enough to boost employment, House Speaker Nancy Pelosi told CNBC Wednesday that the recovery package passed in January has created or saved one million jobs, and without it, the economy would be in much worse shape.
AP
Nancy Pelosi
She did say, however, that more needs to be done.
"It's not enough to say we saved jobs, and we haven't created enough," she said.
As a result, the administration is considering short-term initiatives to help businesses boost hiring, such as a $3,000 tax credit for adding new employees, Pelosi said.
It has discussed extending health benefits from COBRA, so that people who have lost their jobs "have some relief," she said.
The government's multi-billion investments in health care and energy are also designed to create more jobs, she said.
"And we thought Rick Wagoner of GM was incompetent...God Help Us All!!!!"
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