Colorado: Robert Gibbs

President Barack Obama signed into law Tuesday a $787 billion economic stimulus package, a historic, multifaceted rescue plan aimed at creating millions of jobs, sparking consumer spending and stopping the country from sliding into what he has called an economic "catastrophe."

Characterizing the American Recovery and Reinvestment Act as the "most sweeping economic recovery package in our history," Obama said the bill's mix of tax cuts, infrastructure projects, energy and education investments, and aid to the unemployed and poor would create or save 3.5 million jobs over the next two years, including roughly 60,000 in Colorado.

"We have begun the essential work of keeping the American dream alive in our time," Obama said just

Obama in Denver

before signing the bill at the Denver Museum of Nature & Science in front of about 250 people.

What's the deal with Democrats and not paying taxes? As MSNBC reports, Tom Daschle has pulled the plug on his own nomination for Health and Human Services:

Former Senate Democratic leader Tom Daschle on Tuesday withdrew his nomination to oversee the Health and Human Services Department, citing controversies over his taxes and his ties to the health care industry - and telling NBC News that a New York Times editorial also played a role.

His withdrawal came just a few hours after another Obama nominee, Nancy Killefer, said she was withdrawing her nomination. Both had controversies with taxes and cited distractions over that as reasons for withdrawing.

White House press secretary Robert Gibbs told reporters the two realized "that you can't set an example of responsibility but accept a different standard of who serves."