economic stimulus package

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79% Support Obama Stimulus Plan, Poll Says

And public places more confidence in him than in Congress

(Newser) - Most Americans favor Barack Obama's pricey antidotes for the economy, and they like him better than his pals in the legislative branch, Politico reports. A recent poll says 79% back Obama's fiscal plans, which include a $775 billion injection into infrastructure and alternative energy. The president-elect's favorable rating sits high...

Obama Targets Social Security, Medicare

Faced with trillion-dollar deficit, president-elect vows reform, trims

(Newser) - In his first foray into the hazardous terrain of entitlement programs, Barack Obama said yesterday that his administration would overhaul Social Security and Medicare to clamp down on government spending. At a news conference and in a subsequent interview with the New York Times, the president-elect said, "If we...

US 2009 Deficit at Least $1.2T
 US 2009 Deficit at Least $1.2T 
Jan 7, 2009 11:19 AM CST

US 2009 Deficit at Least $1.2T

(Newser) - This fiscal year, which started in October, will see the US running a budget deficit of at least $1.2 trillion, the largest ever, the Washington Post reports. That number could swell to $1.6 trillion if Barack Obama’s massive $800 billion stimulus plan is approved by Congress. The...

Stimulus Widens Unemployment Coverage

Part-timers would be eligible; plan expands health-care options

(Newser) - The Obama stimulus plan will include a $7 billion provision intended to force states to extend unemployment insurance to part-time workers, reports the Wall Street Journal. A separate plan subsidizes COBRA payments and allows uninsured workers who get laid off to buy into Medicaid, and all three measures are riling...

Obama: Expect Trillion-Dollar Deficits

(Newser) - Barack Obama delivered yet another dose of sobering economic news today—the nation should expect to run trillion-dollar deficits for multiple years, the Washington Post reports. The once unthinkable sum—we're already well on our way toward it in fiscal 2009—is more than double the previous high. Obama acknowledged...

Obama Plugs Stimulus Plan on Capitol Hill

(Newser) - Barack Obama plunged into rare pre-inaugural crisis talks with congressional leaders today, declaring the national economy was "bad and getting worse" and embracing tax cuts expected to reach $300 billion, the AP reports. He predicted lawmakers would approve a mammoth revitalization package within 2 weeks of his taking office....

Obama Visit Is Stimulus for White House-Congress Ties

Obama sees economic talks as first step to healing wounds of Clinton, Bush years

(Newser) - President-elect Obama’s visit to Capitol Hill today is as much about an economic stimulus package as it is about stimulating the White House-Congress relationship neglected by Bill Clinton and George W Bush, writes Manu Raju in Politico. A bipartisan, inclusive approach should earn Obama points with lawmakers—but if...

Obama Must Spend Boldly— or It's Great Depression II

Only government can save us now: Krugman

(Newser) - For decades economists believed that a second Great Depression was impossible; all the Fed had to do, they said, is print more money. But as Paul Krugman writes, monetary policy has failed; despite "supplying liquidity like an engine crew trying to put out a five-alarm fire," credit remains...

Pols: No Stimulus By Jan. 20
 Pols: No Stimulus By Jan. 20 
Jan 4, 2009 6:58 PM CST

Pols: No Stimulus By Jan. 20

Republicans voice opposition to Obama's plan

(Newser) - President-elect Barack Obama’s massive economic stimulus bill may not move as quickly as Democratic leaders had hoped, Politico reports. Republicans began suggesting alternatives to the plan today, and House Democrats now say they likely won’t vote on the bill until the week of Jan. 19 or later. Obama’...

FDR 'Prolonged' the Depression? Come On
FDR 'Prolonged' the Depression? Come On
analysis
Jan 2, 2009 11:29 PM CST

FDR 'Prolonged' the Depression? Come On

(Newser) - Fox News left one pundit scrambling for his history books last week after he dared to defend the New Deal. Supporting Congressional talk of a stimulus plan, David Sirota sat "mouth agape, deer in the headlights" as a commentator accused FDR's plan of prolonging the Great Depression. Sirota disagreed,...

Obama to Meet With Congress on Economy

First talks with congressional leaders since election will cover stimulus plan

(Newser) - Barack Obama's Hawaiian holiday is over, and he's now preparing to meet with congressional leaders Monday to discuss jump-starting America's economy, reports Reuters. Aides say the meetings—the president-elect's first with Congress since winning the election—will cover Obama's proposed stimulus package and a range of other issues.

Steel Industry Hopes Stimulus Will Forge Recovery

Execs want projects using American steel to be center of economic recovery

(Newser) - Leaders of America's sagging steel industry are hoping their operations will spearhead the economy's recovery with some major help from the US government, the New York Times reports. Steel orders have collapsed since September, causing thousands of layoffs. Execs are pushing hard for the expected stimulus package from the incoming...

Obama to Market Stimulus Plan

Republicans hoping to delay bill may filibuster

(Newser) - The incoming Obama administration plans to launch a nationwide political push for a quick passage of his $775 billion economic stimulus plan, the Los Angeles Times reports. Says adviser David Axelrod: “There shouldn't be endless debate about it.” Republicans acknowledge that they can’t stop his plan, but...

Obama Must Be a Goo-Goo: Krugman
Obama Must Be a Goo-Goo:
Krugman
OPINION
Dec 26, 2008 9:07 AM CST

Obama Must Be a Goo-Goo: Krugman

That's a good-government wonk, much like FDR

(Newser) - Bill Clinton once declared that “the era of big government is over.” Barack Obama can’t do that, writes Paul Krugman of the New York Times. “Indeed, he has to be a goo-goo.” Goo-goo being a century-old term for “good government” proponents. FDR, for example,...

Stimulus Fight: Green Vs. Quick
 Stimulus Fight: Green Vs. Quick 
Dec 24, 2008 6:52 AM CST

Stimulus Fight: Green Vs. Quick

Democrats battle for stimulus in 2009 infrastructure bonanza

(Newser) - As the incoming administration prepares its massive stimulus package, a divide is emerging between environmentalists, who want to prioritize "green-collar" jobs such as wind and solar power, and advocates of ready-to-go infrastructure like roads and bridges. As the Washington Post reports, each side is accusing the other of...

The US Has Become the GM of Nations
The US Has Become the
GM of Nations
OPINION
Dec 24, 2008 6:42 AM CST

The US Has Become the GM of Nations

Friedman: Stimulus must be a reboot, not just a bailout

(Newser) - Last week Tom Friedman flew from Hong Kong to New York, and the contrast between the two cities' airports was "like going from the Jetsons to the Flintstones." For the New York Times columnist, American infrastructure has become a symbol for a country that, for all its...

Cash-Squeezed States Warn of Collapsing Infrastructure

Fed stimulus eyed as municipal bonds wither

(Newser) - Thousands of infrastructure projects across the country are on hold as states wrestle with budget crises, the New York Times reports. Gov. Arnold Schwarzenegger warned yesterday that California was “on a track toward disaster" as school, bridge, and road construction projects ceased, the victims of the credit squeeze and...

Krugman: Obama Can't Take Crutches Away Too Soon
Krugman: Obama Can't Take Crutches Away Too Soon
OPINION
Dec 22, 2008 12:54 PM CST

Krugman: Obama Can't Take Crutches Away Too Soon

Government must remain involved for economy to gain new footing

(Newser) - The Obama administration must resist the temptation to leave the economy to its own devices too soon, Paul Krugman writes in the New York Times. “Getting to the point where our economy can thrive without fiscal support may be a difficult, drawn-out process,” he writes, with no bubble...

Obama Widens Goals, Now Wants 3M Jobs

Recovery plans grow as advisers predict 9% unemployment

(Newser) - Barack Obama is expanding his plans to reverse the nation’s financial crisis and will seek to create 3 million jobs in the next two years, up from the goal of 2.5 million he proposed last month, the New York Times reports. The new figure follows a meeting in...

Fast-Track New Stimulus: Pelosi

(Newser) - Congressional Democrats are looking to fast-track a $600 billion economic stimulus package in the first weeks of the New Year, the Washington Post reports. Nancy Pelosi said today lawmakers are working with the Obama transition team to craft the plan, which is smaller than the $1 trillion scheme floated earlier....

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