President Barack Obama has increased pressure on Congress to pass the stimulus package he believes is essential for economic recovery. Obama is now warning Congress that, “the time for talk is over,” amid worsening economic data.

Responding to White House pressure, Senate Majority leader Harry Reid is now saying that the Senate could vote on the $900 billion stimulus package by the end of the week. Moderate Republican and Democratic senators are seeking to remove some spending elements from the stimulus bill in an attempt to enhance bipartisan support for the legislation.

“The time for talk is over, the time for action is now,” President Obama indicated in a speech he delivered at the U.S. the Energy Department. “I am calling on the members of Congress, Democrats and Republicans to rise to this moment. The scale and the scope of this plan is the right one.”

Democratic Senator Ben Nelson and his centrist Republican colleague Susan Collins have been meeting in an effort to create a listing of spending cuts in the stimulus bill. The purpose is to attract more bipartisan support. Senator Collins of Maine prefers that the stimulus bill be reduced to $650-700 billion from the current level of $900 billion.