Obama signs $787 bn economic stimulus bill into law

Denver: President Barack Obama has signed into law the most sweeping US economic package in decades, a rescue plan designed to create millions of jobs and boost consumer spending.

It was a major political victory for Obama, who took office less than a month ago.

Obama said the government has begun the essential work of keeping the American dream alive in our time.

The $787 billion package aims to reverse the US economic free fall. It pumps money into infrastructure projects, health care, renewable energy development and conservation. There's a $400 tax break for most individual workers and $800 for couples. It dishes out tens of billions of dollars to states.

Obama signed the bill at the Denver Museum of Nature & Science. The setting was to underscore the new law's investments in "green" energy-related jobs.