Obama's 3.5 million jobs wishful thinking?

(NECN/ABC) - 3.5 million jobs over the next two years -- that is President-elect Barack Obama's goal under his new economic stimulus plan. Obama made the announcement during his weekly web address. "90 percent of these jobs will be created in the private sector - the remaining 10 percent are mainly public sector jobs we save, like the teachers, police officers, firefighters and others who provide vital services in our communities," Obama said. Obama has said his plan would include tax cuts, public works and other infrastructure issues, but many in Congress are skeptical. Obama's own economic team said their estimates of the amount of job creation could be wrong. And then there is the cost -- $775 billion. In an exclusive interview with ABC's George Stephanopoulos, Obama suggested Americans will have to tighten their belts: <ul> <li>Obama: "What we have to do is to take a look at our structural deficit. How are we paying for government? What are we getting for it? And how do we make the system more efficient?" <li>Stephanopoulos: "And eventually sacrifice from everyone?" <li>Obama: "Everybody's going to have to give. Everybody's going to have to have some skin in the game." </ul> Obama is working with Congress to bring his economic plan to vote as soon as possible in an effort to prevent further economic losses. At this point, the nation's unemployment rate has hit 7.2-percent, the highest in 16 years. ABC's Christianne Klein reports from Washington.