President Barack Obama has held his first press conference since taking the White House. The primetime speech set out his case for the huge economic stimulus package that has run into Republican opposition in the Senate.“Economists from across the spectrum have warned that if we don’t act immediately millions of more jobs will be lost, the national unemployment rates will approach double digits not just here but all across the country. More people will lose their homes and their healthcare, and our nation will sink into a crisis that at some point we may be unable to reverse”. The Senate will vote on the bill later tonight, and if it survives it is likely to win final approval tomorrow. The Republicans have already condemned the Democrat’s proposals as “wasteful and excessive”.