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Barack Obama Clinton Kennedy Bush Palin Elvis Beetles Tony Anthony Robbins Warren Buffett Bill Gates Donald Trump Rich Dad Oprah Tiger Woods Oprah
Obama aides have refused to rule out that the administration would seek a second economic recovery plan — even before Congress approves the first — to patch an ailing economy. Some are considering a sequel to assuage members of their own Democratic Party who fret that too little of the money is going toward public works projects that would employ their constituents.
Along with the speech, Obama’s economic team released a report designed to outline tangible benefits of the plan and shore up support. Aides said they wanted people to understand exactly what they could expect if Congress supported the proposed legislation.
The United States lost 2.6 million jobs last year, the most in any single year since World War II. Manufacturing is at a 28-year low and even Obama’s economists say unemployment could top 10% before the recession ends. One in 10 homeowners is at risk of foreclosure and the dollar continues its slide in value. On Friday, 1st Centennial Bank of Redlands, California, became the third U.S. bank to fail this year.
The president and his top economic advisers met at the White House on Saturday to discuss economic issues.
The two-hour session focused the proposed $825 billion economic stimulus package that Congress is considering.
The group also discussed the upcoming federal budget, Obama’s first chance to shape the country’s spending amid a recession that lost 2.6 million jobs last year, the most in a single year since World War II.
Author: mikemillions5
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Added: January 21, 2009
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