Obama advisers: Plan would create up to 4.1M jobs

[Terri]

By PHILIP ELLIOTT
Associated Press
January 12, 2009

WASHINGTON (AP) -- President-elect Barack Obama countered critics with an analysis Saturday by his economic team showing that a program of tax cuts and spending like he's proposed would create up to 4.1 million jobs, far more than the 3 million he has insisted are needed to lift the country from recession.

Congressional Republicans reacted skeptically, just as Obama acknowledged that he would be forced to recant some of his campaign promises given the economic crisis facing the country. Even the president-elect's own economists acknowledged their two-year estimates could be wrong.

The---page analysis, which was posted online, says estimates are "subject to significant margins of error" -- because of the assumptions that went into the economic models and because it is not known what might pass Congress.

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