WH economic adviser: Obama's plan will provide long-term confidence, short-term momentum to economy

NEW YORK (CNNMoney) - President Obama unveiled a stimulus plan Thursday night that he says will boost hiring and provide a jolt to the stalled economy if it becomes law. A mix of $253 billion in tax cuts and $194 billion in new spending, the total bill 
for the plan is $447 billion. Given staunch Republican opposition to most new spending, the measure has almost no chance of passing the House in its current form.

But select parts of the bill could become law, and provide a measure of support for an economy at risk of falling into another recession. The question this morning: Can it work and will Congress pass it?

This morning on American Morning, Christine Romans talks with Gene Sperling, director of the National Economic Council and assistant to the President for economic policy. She asks him what it will take for Congress to pass the bill, and whether it will provide the kind of stimulus to get the economy moving.