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Obama talks about his rescue package
Azerbaijan News.Net
Wednesday 7th January, 2009
President-elect Barack Obama has underscored the urgency of finalizing economic legislation with reporters in Washington.
He said: "We have got an extraordinary economic challenge ahead of us. We are expecting a sobering jobs report at the end of the week.”
Mr Obama said he had told legislators he would like to see a tag of approximately $775 billion for the US economic stimulus plan, even though economists had suggested to him that the cost might be as large as $1.3 trillion.
He said he had consulted with 20 economists who said they believed the package should be from $800 billion to $1.3 trillion.
Mr Obama’s plan would attempt to boost consumer demand by providing tax breaks worth $500 for individuals and $1,000 for couples.
The change would come by altering tax-withholding rules so workers would see an immediate increase in their take-home pay.
The package would also fulfill Obama's promise to boost jobs with spending on improvements to roads, bridges and power grids, as well as aid to states hit by budget shortfalls.
Senate Republicans have privately said they are likely to be more enthusiastic about the package due to the likelihood of tax cuts.
Mr Obama has told legislators he would like them to complete work on the plan, including tax cuts and spending, by the end of January or no later than the first week of February.  Email this story to a friend
Comments on this story
` ~galljdaj+
01-07-09, 09:35 AM |
Obama talks about his rescue package
Obama is talking nonsense! More of the same coin of illusions! A lil truth, unimployment is a growing problem, and a pack of misdirection, economists directing!
Economists are a self serving bunch of criminal intent on personal gain from words that have failed the People(stripped them of jobs) and made the economists rich!
Saddly Obama has committed the same error Clinton did. Both inherited a failed economy. And both needed to help the People. Clinton with Health Care, Obama with 7 plates and only two arms and teeth. Obama sought out 'experts', economists to guide/advise him!
Obama’s motives seem by his choice of seeking help from those that failed, follow in the path of the previous failure placed on the People! And only one conclusion is possible, Obama’s decisions are Political rather than in the Best interests of the People/Country! Political for the few rather than service to the many!
What is needed, is a plan and actions that correct the failures, and build the foundation for Our Production and ability to create the working system within the US, FOR THE COMING LOW POWER USAGE TECHNOLOGIES. Factories, Designs, Trainnings, changing Our Misdirected Policies, ALL TAKE TIME PLANNING MONIES AND CREATIVITY, in order to make the correct choices!
Obama cannot complete all of the needed chores! He has only the time to direct the Path and get us started! He must be prepared to leave the glory to his replacement!
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