InfoAnda - Obama urges major new stimulus, jobs spending

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Boeing to cut 10,000 jobs after loss | 29 January 2009
Pakistani stocks end flat; rupee firms; o/n rates down | 29 January 2011
After months of rising, coffee prices lower | 26 August 2011

U.N. probes new charges of peacekeeper sex abuse in Haiti | | 24 January 2012

Forum Views () Forum Replies ()

Read more with google mobile : Obama urges major new stimulus, jobs spending

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Africa Europe Latin America Middle East North America Obama urges major new stimulus, jobs spending By TOM RAUM,Associated Press Writer - Wednesday, December 9 Send IM Story Print WASHINGTON – President Barack Obama called for a major new burst of federal spending Tuesday, perhaps $150 billion or more, aiming to jolt the wobbly economy into a stronger recovery and reduce painfully persistent double-digit unemployment. Despite Republican criticism concerning record federal deficits, Obama said the U.S. has had to "spend our way out of this recession" with so many people out of work but insisted he was still mindful of a need to confront soaring deficits. More than 7 million Americans have lost their jobs since the recession began two years ago, and the jobless rate stands at 10 percent, statistics Obama called "staggering." Congressional approval would be required for the new spending. "We avoided the depression many feared," Obama said in a speech at the Brookings Institution, a Washington think tank. But he added, "Our work is far from done." It was the third time in a week the president had presided over a high-profile event on jobs, responding to rising pleas in Congress that he spend more time discussing unemployment as midterm election season draws near. Obama proposed new spending for highway and bridge construction, for small business tax cuts and for retrofitting millions of homes to make them more energy-efficient. He said he wanted to extend economic stimulus programs to keep unemployment insurance from expiring for millions of out-of-work Americans and to help laid-off workers keep their health insurance. He proposed an additional $250 apiece in stimulus spending for seniors and veterans and aid to state and local governments to discourage them from laying off teachers, police officers and firefighters. He did not give a price tag for the new package but said he would work with Congress on deciding how to pay for it. On Capitol Hill, estimates of a potential jobs bill range from $75 billion to $150 billion, said Rep. Steny Hoyer of Maryland, the No. 2 Democrat in the House. "100 billion, 150 billion, 75 billion _ those are all figures that are being talked about," Hoyer told reporters. Those billions would be on top of money for separate legislation for safety-net initiatives such as extending unemployment benefits for the long-term jobless and providing them health insurance subsidies. Some lawmakers put the total cost of the new proposals at $200 billion or more. White House economic adviser Jared Bernstein said the White House is considering spending $50 billion on infrastructure projects alone such as roads and bridges and water projects. Other figures, he said in an interview with The Associated Press, would be worked out with Congress. Republicans ridiculed the president's speech and his parallel call for doing more to hold down government deficits. "At least the president's proposal will result in one new job _ he'll need to hire a magician to make this new deficit spending appear fiscally responsible," said Sen. Judd Gregg of New Hampshire, the senior Republican on the Senate Budget Committee. House GOP leader John Boehner of Ohio declared the president "out of ideas and out of touch." While Obama did not propose the kind of direct federal public works jobs that were created in the 1930s, he said government action could set the stage for more job creation by private business. Many of his proposals would extend or expand programs included in the mammoth $787 billion stimulus package passed last winter. While acknowledging increasing concerns in Congress and among the public over the nation's growing debt, Obama said critics present a "false choice" between paying down deficits and investing in job creation and economic growth. "Even as we have had to spend our way out of this recession in the near term, we have begun to make the hard choices necessary to get our country on a more stable fiscal footing in the long run," he said. To find money to pay for the new programs, the administration is pointing to the Treasury Department's report on Monday that it expects to get back $200 billion in taxpayer-approved bank bailout funds faster than expected. Obama suggested this windfall would help the government spend money on job creation at the same time it eats into the nation's debt, which now totals $12 trillion. He called the bank bailout, under the 2008 Troubled Asset Relief Program, or TARP, "galling." "There has rarely been a less loved _ or more necessary _ emergency program," Obama said. The program is due to go out of business at the end of this year, although Congress is expected to extend it to next October. The perception that the program mainly bailed out Wall Street bankers while doing little to help ordinary Americans has fed anti-Washington sentiment across the nation. In clear acknowledgment of this sentiment, Obama said the unexpected $200 billion in repaid loans and other savings "gives us a chance to pay down the deficit faster than we thought possible and to shift funds that would have gone to help the banks on Wall Street to help create jobs on Main Street." But Republicans cried foul, claiming that the leftover and repaid TARP money must be used exclusively for deficit reduction or additional bank bailouts, as the law setting it up spells out, and not for what amounts to an expensive new stimulus program to create jobs. "The stimulus money clearly was a spending bill. TARP was a loan _ a loan to be paid back. And we know that a number of the banks are, in fact, paying it back," said Senate Minority Leader Mitch McConnell, R-Ky. "So I don't think raiding a loan program to launch another spending spree is the best way to create jobs." David Walker, president of the Peter G. Peterson Foundation, a group that promotes fiscal responsibility, said that just because the government hasn't had to spend all the TARP money on banks "doesn't mean we should automatically spend it on something else." Walker, former head of Congress' Government Accountability Office, said in an interview that clearly defined objectives or conditions were missing from both the $700 billion bank bailout law passed in October 2008 and this year's $787 billion stimulus package. He said, "You can't change history, but you need to learn from past mistakes to make sure that you don't repeat them." Liberal groups praised Obama's new initiatives. "We think that Obama made a step in the right direction," said Karen Dolan of the Institute for Policy Studies. "He's finally tapping into that moral outrage of the American people at the Wall Street bailouts." A major part of his package includes new incentives for small businesses, which account for two-thirds of the nation's work force. He proposed a new tax cut for small businesses that hire in 2010 and an elimination for one year of the capital gains tax on profits from small-business investments. Obama also proposed an elimination of fees on loans to small businesses, coupled with federal guarantees of those loans through the end of next year. His proposal for new tax breaks for energy-efficient retrofits in homes is modeled on the now-expired Cash for Clunkers rebates for trading in used vehicles for more fuel-efficient vehicles. Some administration officials have dubbed the proposed new program "Cash for Caulkers." Although the unemployment rate inched down to 10 percent in November from 10.2 percent in October, more of America's largest companies will shrink their staffs than will hire in the next six months, according to a new survey by the Business Roundtable. A Labor Department report on Tuesday showed there were about 6.3 unemployed people, on average, for each job opening in October. Comparable November figures were not yet available. ___ Associated Press writers Julie Pace, Andrew Taylor and Philip Elliott contributed to this report. Recommend Send IM Story Print Related Articles Gates tells troops in Afghanistan success in reach AFP - 1 hour 46 minutes ago Motivational speaker arrested in Las Vegas death AP - 1 hour 50 minutes ago Owner claims can holding $10K left at Iowa store AP - 1 hour 54 minutes ago Population shifts could boost Calif, NY in census AP - 2 hours 48 minutes ago GAO: FDA yet to make safety changes post-Vioxx AP - 2 hours 49 minutes ago News Search Top Stories US agency suggests Christmas gifts for the disaster age Greece under pressure to take budget action Obama in new push to end 'tragedy' of unemployment Ohio executes inmate with single drug US cancer rate declines: study More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Woods' mother-in-law rushed to hospital Virgin unveils spaceship to offer space tourism Dubai stock market slumps 'I'm A Celebrity' TV stars charged over rat risotto British Grand Prix saved More Most Viewed » Global stocks mixed amid Dubai debt crisis Tiny magnetic discs could kill cancer cells: study Alcohol helps cut heart disease risk for men: study Mankind using Earth's resources at alarming rate Virgin unveils spaceship to offer space tourism More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Wednesday, 9 December 2009
Car bombs kill 112 in Baghdad attacks
Three dead in German plane crash: police
Mobile phones spreading in N. Korea: media
Obama announces new jobs push
Coordinated blasts hit Baghdad; kill at least 127
News Corp, Time, others detail e-standard venture
Pauly Shore Sues Brother Over Care Of His Mother
Ancestry site puts Hitler's war service online
Israeli official: Jewish law must become binding
Honduras' top anti-drugs official shot and killed |
"Up In The Air" Voted Best Film By D.C. Film Critics
Students, militia clash in 2nd day of Iran protest
France's Sarkozy takes on Google in books dispute
Bryant Gumbel Reveals Lung Cancer Surgery
UK makes online safety lessons for kids compulsory
Iraq sets parliamentary elections for March 7
France's Sarkozy takes on Google in books dispute |
Woman Rushed To The Hospital From Tiger Woods' House
Iraq vote to be held March 6: electoral commission
Mobile phones spreading in N. Korea: media
France's Sarkozy takes on Google in books dispute |
Yahoo open to sell HotJobs for right price |
McChrystal supports new strategy, drawdown
Obama envoy seeks NKorea's return to nuke talks
US settles royalty dispute with Indian tribes
Ancestry site puts Hitler's war service online |
China school stampede kills 8 in crowded stairway
Watchdog calls for media freedom in Sri Lanka
Attorney general changing Alaska ethics rules
News Corp, Time, others detail e-standard venture |
Thai jailed in Cambodia over Thaksin flight leak
Big storm targets Midwest with snow, wind
Japanese minister says talks on US base suspended
$7M awarded to victim's family in Ky. plane crash
Principal Forced To Take Down Christmas Tree For One Family
Ex-FBI director to examine Fort Hood
Obama Policy Strives To Bring Transparency To Governmental Functioning
Afghan gov't says NATO attack killed 6 civilians
SC first lady: I wouldn't have stood with governor
UPDATE: Hospital Officials Confrim Woods' Mother-In-Law Underwent Medical Treatment
China executes securities trader who hid millions
U.S. Envoy To North Korea Arrives in Pyongyang
Obama says energy projects put US back to work
16 missing after Bangladesh pirate attack
McDonald's Manager Fired For Not Hiring Transgendered Teen
Obama proposes ways to aid small business hiring
Obama Outlines Popular Program To Fight Unemployment, Other Fiscal Ills
Bear Attacks Woman 75
Students Suspended For 'Sexting'
Obama To Announce Employment Initiative In Tuesday Speech
ACORN Says Internal Review Found No Illegal Conduct In Videos
China urges 'reasonable' credit growth in 2010
Chinese auto sales lift luxury German brands
Vinyl's comeback makes musicians want to sing |
TV's As The World Turns gets axe after 54 years |
Bryant Gumbel says he has lung cancer
Chinese market boosts German luxury car sales
'Carmen': audience contests, critics admire
Paris Tour d'Argent wine auction takes million euros
Despite debt, it's show business as usual at Dubai film gala
Woods' mother-in-law in hospital with stomach pain
SC first lady: I wouldn't have stood with SC gov.
Ohio to execute inmate with single drug
`Boom Boom Pow,' Kings of Leon CD top 2009 iTunes
Gunfire greets US rebuilding team in Afghan mountains
EU deplores Turkey's failure to treat Cyprus properly
Google teams up with NY Times, Wash Post on 'Living Stories'
US agency suggests Christmas gifts for the disaster age
Iraqi leaders come under fire over Baghdad blasts
Drug war abuses by Mexican army rise sharply |
US-TECH Summary
Qaeda claims it has French, Spanish hostages
Car bombs rock Iraqi capital, 112 killed |
Ebay exec emails: Feign surprise to Craigslist
Greece under pressure to take budget action
Swedish FM takes aim at Belarus over student expulsion
Surge to break Taliban momentum in a year: US general
MySpace buys online music service imeem
Obama in new push to end 'tragedy' of unemployment
Gates: pieces coming together for Afghan success |
Google releases Chrome browser for Macintosh computers
Turkey tense as court considers Kurd party's fate
Ohio executes inmate with single drug
Cisco going from Internet plumber to platform
US cancer rate declines: study
Dog survives Baghdad suicide bombing, owners die
U.S. online holiday spending up 3 percent: comScore
New Iran clashes as regime ups pressure on opposition leader
Tiger Woods drama a boost for : Bartz
Fitch downgrades Greek sovereign, bank debt
Some of the deadliest attacks in Iraq
Myanmar junta labels detained Suu Kyi dishonest |
Yahoo open to sell HotJobs for right price
White House outlines blueprint for government transparency
China arrests 94 Xinjiang unrest fugitives
Malaysian, Thai PMs in key visit to troubled region
Ebay exec emails: Feign surprise to Craigslist |
Cuban spies gets US prison terms reduced
For North Korea, giving up atomic weapons is a risk
Congress seeks compromise on GM, Chrysler dealers
China a bright spot on climate with green bulbs
Taiwan ex-dissidents remember democracy breakthrough
LA council set to vote on pot ordinance
Amnesty International To Philippine Government: Limit Martial Law and Disband Paramilitaries
U.S. online holiday spending up 3 percent: comScore |
First lawsuit in China milk scandal delayed
One In Four Pregnant Filipinos Underweight: Survey
Coroner: Wis. murder suspect likely killed himself
Developing nations furious over Danish climate text
Some see divine sign in cow born at Conn. dairy
US envoy set for more talks in North Korea
Cheney: Trying 9/11 suspects in NYC 'huge mistake'
Antarctic nations consider new controls on ships
Police: Man dresses up as mom to withdraw cash
Calif. man again found guilty of killing officers
U.S. judge reduces sentences of two Cuban spies
Obama urges major new stimulus, jobs spending
Euro summit gets down to climate brass tacks
Japan Q3 growth revised down from 4.8 to 1.3pct
S.Korea's STX wins major Ghana housing deal
VW eyes stake in Japan's Suzuki: report
NZ govt to overhaul power sector to boost competition
Seoul shares turn up 0.4 pct on auto, tech issues
Taiwan dollar rebounds after c.bank moves
Korea Hot Stocks
S.Korean bonds rise on U.S. lead, downgrades
Colin Firth gets naked for A Single Man |
Seoul shares open lower; banks, commods retreat
Billboard's one-hit wonders of the decade |
Man vs. wave at Hawaii surfing tournament
Pink to headline 2010 Wireless festival in London |
Los Angeles restricts medical marijuana outlets
Peas, Kings of Leon top iTunes best sellers of 2009 |
Burglary reported at Nicky Hilton's LA home
Lane Garrison writing one from the Heart |
Autopsy finds overdose killed Springsteen's cousin
Bonnie Hunt Show folding |
Music labels bet Vevo.com is next MTV
Deschanel, Ward reteam for follow-up album |
Ansel Adams `Moonrise' print sold for $360K in NYC
Music labels bet Vevo.com is next MTV |
Deschanel, Ward reteam for follow-up album
MTV's Jersey Shore gains protesters, loses ads |
"Bonnie Hunt Show" folding
Raphael drawing sells for about $48M at UK auction
Edward Albee's 'Me, Myself & I' sets NY premiere
Principal Forced To Take Down Christmas Tree For One Family
McDonald's Manager Fired For Not Hiring Transgendered Teen
Bear Attacks Woman 75
Students Suspended For 'Sexting'
German trade surplus boost, inflation climbs
Iran: UN observatory near border is spy station
Abbas in Egypt says no deal yet on Israeli Shalit |
Death toll rises to 121 in Russian nightclub fire
Iran to hit Israeli nuke sites if attacked: minister |
Israel parliament to vote on land-for-peace law
Greece vows action on debt under peer pressure |
Pakistan's Peshawar, epicenter of jihad |
Iran frees three detained Belgians: report
Gates tells NATO troops Afghan success in reach
Violent protests shut down high-tech Indian city |
Palestinians struggle to build in West Bank |
Study: 2nd drug to treat cattle deadly to vultures
Philippine police: 161 suspects in massacre sought
Obama keeps focus on economy
Thousands in Indonesia protest over graft
Obama announcing $600M for health
Facebook redraws site's privacy boundaries |
After 30 years, NJ quadriplegic hunter takes aim
China moves to indict top dissident for subversion
New York Man Rescued From Cesspool
Myanmar's Suu Kyi meets gov't liaison: official
Ohio serial killer suspect due in court
Recount In Atlanta Mayoral Race Begins
Giant iceberg spotted south of Australia
NYC concrete-testing trial set to start
Pregnant Palm Beach Woman Slips Into Coma, Dies From Swine Flu
Pakistan's Peshawar, epicentre of jihad
The nation's weather
Severe Winter Weather Bashes Most Of U.S.
China says it detains 94 who fled July rioting
Math Scores In Major U.S. Metro Cities Improve
Top China dissident faces subversion charge: lawyer
4 slain Wash. officers honored at memorial
Obama Leaves For Oslo Wednesday To Receive Nobel Peace Prize
Coakley Wins Democratic Primary; Poised To Become Massachusetts' First Woman Senator
Saudi 'deplores' Iran kidnapped scientist claim
Volkswagen to buy 20 percent of Suzuki for $2.5B
Pakistan rupee lower; o/n rates ease; stocks edge up
Currency change cripples N.Korea markets: report
Survey finds China key for global profitability
Debt-laden Nakheel takes big first half loss
French rocker Hallyday hospitalized in LA
Straight from Korean military zone: bottled water
School textbook highlights Iraq's Sunni-Shiite divide
Large natural gasfield discovered offshore China
The women who guard other women in conservative Egypt
NZ Oct retail sales flat, backs case for low rates
NZ fears tourism disaster in Antarctica
MTV's "Jersey Shore" gains protesters, loses ads
Lane Garrison writing one from the "Heart"
Rap and manga
China's Shaolin Temple rakes in cash and controversy
New York Man Rescued From Cesspool
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01