As part of his efforts to advocate for the passage of the so-called "stimulus" bill, President Obama met with a number of chief executives from the technology sector and other industries on Wednesday to discuss the economy.
Tech company leaders present at the meeting included IBM's Sam Palmisano, Google's Eric Schmidt, Applied Materials' Mike Splinter, Motorola's Greg Brown, and Micron's Steve Appleton.
Obama called it a "sober" meeting but said the economic package moving its way through Congress will create more jobs and lay a foundation for long-term growth.
"It will invest in broadband and emerging technologies, like the ones imagined and introduced to the world by people like... so many of the CEOs here today," he said, "because that's how America will retain and regain its competitive edge in the 21st century."
The House of Representatives approved the $819 billion economic package on Wednesday, with no Republicans voting for the bill.
The CEOs at Wednesday's meeting came out in support of the legislation.
"At the heart of this debate over the economy is the question (of) whether America will be the preferred destination for businesses to operate, entrepreneurs to start ventures, investors to make their financial bets, and high-skilled workers to continue their careers," Motorola's Brown said in a statement. "President Obama understands that our economic policy must be geared toward strengthening U.S. competitiveness for the long term."