UPDATE: Obama meets with economic advisers; promotes economic plan

WASHINGTON (AP) - President Barack Obama continues to work on fixing the ailing U.S. economy. He’s scheduled a meeting with his economic team at the White House today.
   
In his first radio and Internet address as president this morning, Obama promoted his economic aid plan and what it would mean for all Americans. He says if the government doesn’t “act boldly and swiftly, a bad situation could become dramatically worse.“
   
It was the latest appeal from the new president for a massive spending bill designed to inject almost $1 trillion into the economy and fulfill campaign pledges. As lawmakers consider the $825 billion plan, Obama aides have refused to rule out the possibility that the administration could seek a second recovery plan, even before Congress approves the first.
   
House Republican leader John Boehner (BAY’-nur) is renewing his call to stimulate the economy with tax cuts instead of spending. The congressman from Ohio says the country can’t dig itself out of a recession by borrowing and spending.