Stimulus plan large, hopes of success smaller
Barack Obama has signed in a 787 billion dollar stimulus plan in what he describes as a dramatic step in ending the US economic mess. "It was the most sweeping recovary packge in our history", the president has said.
The plan is aimed at saving or creating 3.5 million jobs and boosting consumer spending and rebuilding infrastructure. The opposition Republicans have criticized it saying the tax cuts are insufficient, and that the economy will be saddled with debt for years to come.
Much of the money will flow towards kicking off infrastructure projects, health care, renewable energy development and conservation programmes. Its split into 36% for tax cuts and 64% percent in spending for social programmes.
Obama was however cautious about raising too much hope with his plan. In fact, in recent weeks, the loss of confidence in US plans has been strikingly reflected in falling markets. "I don't want to pretent that today marks the end of our economic problems, nor dose it constitute all of what we're going to have to do to turn our economy around, but today dose mark the beginnong of the end."
The US President also hoped that it will also spark off technical innovation.
posted March 12 7:30:05 PM
"I know there are some who believe we can only handle one challenge at a time. They forget that Lincoln helped lay down the transcontinental railroad, passed the Homestead Act, and created the National Academy of Sciences in the midst of Civil War. Likewise, President Roosevelt didn’t have the luxury of choosing between ending a depression and fighting a war. President Kennedy didn’t have the luxury of choosing between civil rights and sending us…
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posted March 12 11:45:33 AM
In the budget outline that he delivered to Congress last month, President Obama identified three key areas that are critical to our long-term economic health: Health Care, Energy, and Education. This morning, President Obama delivered remarks on education reform at the U.S. Hispanic Chamber of Commerce’s 19th Annual Legislative Conference at the Washington Marriott at Metro Center. He stressed the importance of education and stressed the connection…
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In the budget outline that he delivered to Congress last month, President Obama identified three key areas that are critical to our long-term economic health: Health Care, Energy, and Education. This morning, President Obama delivered remarks on education reform at the U.S. Hispanic Chamber of Commerce’s 19th Annual Legislative Conference at the Washington Marriott at Metro Center. He stressed the importance of education and stressed the connection…
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posted March 12 10:54:43 PM
Photo: President Obama signs an Executive Order lifting restrictions on stem cell research as well as a Presidential Memorandum ensuring that sound science be protected from politics As the President described this morning , at a time when the issue of stem cell research could have faded from the national consciousness, a number of advocates stepped forward to ensure it wasn’t forgotten. None were more passionate than Christopher and Dana…
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Photo: President Obama signs an Executive Order lifting restrictions on stem cell research as well as a Presidential Memorandum ensuring that sound science be protected from politics As the President described this morning , at a time when the issue of stem cell research could have faded from the national consciousness, a number of advocates stepped forward to ensure it wasn’t forgotten. None were more passionate than Christopher and Dana…
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posted March 12 2:17:26 PM
Organizing for America Director Mitch Stewart sent out a special video update today, announcing an important new initiative: Just over a week ago, President Obama submitted his first budget and made it clear he was ready for the fight to come. The President isn't alone. We're ready for that fight too -- it's what you built this movement for. Watch a video I recorded announcing our new initiative, the Organizing for America Pledge Project: …
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Organizing for America Director Mitch Stewart sent out a special video update today, announcing an important new initiative: Just over a week ago, President Obama submitted his first budget and made it clear he was ready for the fight to come. The President isn't alone. We're ready for that fight too -- it's what you built this movement for. Watch a video I recorded announcing our new initiative, the Organizing for America Pledge Project: …
CONTINUE READING
posted March 12 11:35:48 AM
This morning President Obama signed an executive order ending Bush-era restrictions on using federal dollars for embryonic stem cell research. The President explained that: Today, with the Executive Order I am about to sign, we will bring the change that so many scientists and researchers; doctors and innovators; patients and loved ones have hoped for, and fought for, these past eight years: we will lift the ban on federal funding for promising embryonic…
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This morning President Obama signed an executive order ending Bush-era restrictions on using federal dollars for embryonic stem cell research. The President explained that: Today, with the Executive Order I am about to sign, we will bring the change that so many scientists and researchers; doctors and innovators; patients and loved ones have hoped for, and fought for, these past eight years: we will lift the ban on federal funding for promising embryonic…
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