Treasury Secretary Timothy Geithner is in Chicago today, touring an employment center on Chicago’s west side with Mayor Daley.
Geithner will use his trip to Chicago to announce a federal plan to provide billions of dollars to aid community development centers and projects.
The job-training center that Geithner and Daley will tour is eligible for funds under the plan.
Thursday evening Geithner gave a speech at the Economic Club of Chicago in which he touted US Gross Domestic Product numbers – which showed a 3.5 percent growth -- as a sign that the economy was stabilizing.
"It wasn't just cash for clunkers and it wasn't just the direct effects of stimulus. You saw consumption stronger, investment stronger, housing, construction stronger, exports rising quite rapidly."
Geithner’s trip dovetails nicely with a White House push to trump its stimulus plan as a success. Yesterday the president spoke on much the same topic, after the growth numbers were released.
“This is obviously welcome news and an affirmation that this recession is abating and the steps we've taken have made a difference,” the president said from the South Court of the Eisenhower Executive Office Building.
