Obama outlines economic recovery plan

PORTSMOUTH, Va - President Barack Obama told the American people his economic recovery plan will take immediate steps toward relieving the current crisis.

His plan to give a $2,500 tax credit for college tuition caught Norfolk State University's Dr. Carol Pretlow's attention.

Pretlow told WAVY.com the assistance could make a difference for students contemplating dropping out of school for financial reasons. "Those that are in college presently may be able to maintain at least. Those who are entering college may not experience a great impact," she explained.

In promoting his plan to reinvest hundreds of billions of dollars into the economy, Mr. Obama explained the money would be put to work by creating jobs in health care and energy industries. He also said the money would be used for public safety and education to provide "states with some relief."

Virginia faces $3 Billion budget shortfall, and the region's local government leaders have reported to WAVY.com that they are dealing with declining revenues.

With that reality, Regent University's Dr. Charles Dunn wonders how local lawmakers will use money that comes from Washington.

"Those governments will just take the federal money and put it on what they were doing before they made the cuts. Will that stimulate?"

Dunn says local leaders might be wise to invest federal dollars in ways the President suggests will create jobs.