economic stimulus package

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'Public Sick of Partisanship': Lieberman
'Public Sick of Partisanship':
Lieberman
talk show roundup
Nov 23, 2008 12:00 PM CST

'Public Sick of Partisanship': Lieberman

Joe says Obama never called back; politicos talk bailouts on TV

(Newser) - Joe Lieberman told Meet the Press today that he regrets "some things I said in the heat of the campaign that I wish I'd said more clearly," and hopes Barack Obama will put, er, "country first" by leading in a bipartisan fashion. Lieberman said he called...

Obama: We Need 2.5M Jobs in 2 Years

(Newser) - Barack Obama says he will move quickly once in office to enact an ambitious, two-year plan to save or create 2.5 million jobs, Bloomberg reports. Obama announced his plan in his weekly radio address, where he also warned that “we risk falling into a deflationary spiral that could...

Paulson: We're Doing the Right Thing

Bush administration 'creatively working' on financial crisis

(Newser) - On the eve of his testimony before Congress, beleaguered Treasury Secretary Henry Paulson used last night's speech to defend the administration's response to the nation's "unprecedented" financial crisis. Paulson said without the $700 billion Wall Street bailout, things would be even worse, ABC News reports. "It's hard to...

Krugman: Throw Away Prudence to Fix Economy
Krugman: Throw Away Prudence to Fix Economy
OPINION
Nov 14, 2008 12:03 PM CST

Krugman: Throw Away Prudence to Fix Economy

Depression economics have taken hold

(Newser) - The financial world has been turned upside down, and while we may not be headed for another Great Depression, we are embroiled in “depression economics,” writes Paul Krugman of the New York Times, a time when normal economic tools like the Fed's rate-cutting powers have “lost all...

Auto Bailout Unlikely Until Obama Takes Office

Detroit automakers warn that next year may be too late for rescue

(Newser) - It’s looking unlikely that a new economic stimulus package and a Detroit bailout will happen this year, the Wall Street Journal reports. The proposals are facing stiff resistance from Republicans and may have to wait until the new, more heavily Democratic Congress convenes in January and Barack Obama takes...

Obama Urges Bush to Help Automakers
Obama Urges Bush
to Help Automakers
Nov 11, 2008 3:53 AM CST

Obama Urges Bush to Help Automakers

But president links Detroit aid to Dem backing for Colombia free trade pact

(Newser) - Barack Obama urged President Bush during their White House meeting yesterday to extend emergency aid to the auto industry, the New York Times reports. The president indicated that he might be willing to approve Detroit aid and a broader economic stimulus package—but only on the condition that the president-elect...

New Deal a Good Example, But Not Perfect

Obama must have 'audacity' FDR lacked

(Newser) - With the economy on the rocks, the New Deal is a hot topic. But FDR’s master plan almost failed, Paul Krugman writes in the New York Times, because "his economic policies were too cautious." In the end, "what saved the economy, and the New Deal, was...

Chinese Stimulus Lifts Dow
 Chinese Stimulus Lifts Dow 
MARKET Open
Nov 10, 2008 8:49 AM CST

Chinese Stimulus Lifts Dow

Index surges 150+ at open, following Asian lead

(Newser) - Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a...

World Stocks Jump on China Spending Spree

Asia, Europe advance after Beijing announces $6B stimulus package

(Newser) - China's announcement yesterday that it would spend nearly $600 billion to stimulate its economy gave a much-needed jolt to worldwide markets today. The Nikkei in Tokyo and Hang Seng in Tokyo both gained around 6%, while European exchanges also opened higher. China's spending spree also pushed up the price of...

Public Works Eyed as Economic Jumpstart

Economists increasingly look to infrastructure spending for job creation

(Newser) - Once dismissed as too slow to address America’s quick slide into crisis, New Deal-esque public works projects are becoming increasingly attractive as long-term economic troubles look likely to set in, the Los Angeles Times reports. Infrastructure spending will likely be a major component of the upcoming Obama-backed, multibillion-dollar stimulus...

China Unveils Massive $586B Stimulus Bill

Beijing focuses on boosting infrastructure, social welfare

(Newser) - China announced a $586 billion stimulus package today in its biggest move to stop the global financial crisis from hitting the world's fourth-largest economy. A statement on the government's website said China's Cabinet had approved a plan to invest the money in infrastructure and social welfare by the end of...

Stocks Close Up 248 Despite Tough Jobs News

But Friday rally can't heal brutal weekly losses

(Newser) - Stocks gained today despite a big bump in unemployment last month and poor earnings reports, MarketWatch reports. The indexes looked positioned for another late-Friday bloodbath but instead rose sharply in what could be a vote of confidence for President-elect Obama’s economic team. The Dow rose 248.02 to 8,...

Obama Huddles on Economy, Will Meet Press Today

Team of economic advisers already mapping out plan

(Newser) - Barack Obama isn't wasting any time in tackling the financial crisis, Reuters reports. The president-elect is meeting today with his new 17-strong team of economic advisers—and will hold his first press conference since his election victory at 2:30 EST. Wall Street has plummeted 10% in the last two...

Pelosi Urges Lame-Duck Stimulus Bill

Democrats say bipartisan, White House support crucial to measure

(Newser) - Nancy Pelosi says she hopes to quickly push through a $61 billion economic stimulus package but will need the support of President Bush and the current crop of Senate Republicans, Reuters reports. Pelosi said a "lame duck session" could come as early as Nov. 16. "It depends on...

Brooks: Want Real Economic Stimulus? Fix the Roads

A National Mobility Project would create jobs, leaving lasting impact: Brooks

(Newser) - Panic is afoot, so of course, Congress is bearing down on another stimulus package, though the last one seems to have missed the mark. These “politically designed, ad hoc” measures “amount to an economic sugar rush,” David Brooks writes in the New York Times. If he’s...

As Investors Seek Cover, Central Banks Slash Rates

Seeking to loosen credit, central banks plan another round of cuts

(Newser) - Central banks worldwide are slashing interest rates, attempting to stem the bleeding in financial markets as investors dump holdings, credit remains tight, and currencies spasm in value, the Washington Post reports. The Federal Reserve is set to cut rates for the second time in as many weeks tomorrow, while the...

Bernanke All But Endorsed Obama: Journal Editors
Bernanke All But Endorsed Obama: Journal Editors
OPINION
Oct 21, 2008 10:59 AM CDT

Bernanke All But Endorsed Obama: Journal Editors

Fed chief's support for stimulus conformed to Dem platform

(Newser) - The Fed once shunned politics, but chairman Ben Bernanke’s support for a second economic stimulus bill yesterday amounts to an endorsement of Barack Obama, write the outraged editors of the Wall Street Journal. By saying a stimulus would be "well targeted," despite GOP and White House resistance,...

Bernanke Backs New Stimulus
 Bernanke Backs New Stimulus 
Oct 20, 2008 10:24 AM CDT

Bernanke Backs New Stimulus

But Fed chief says new measure must include access to credit

(Newser) - Ben Bernanke gave his blessing to a new economic stimulus package today, the New York Times reports, saying the slowdown warrants another boost but hedging his approval with conditions that would discourage the sort of package Democrats are pushing. “If the Congress proceeds with a fiscal package, it should...

Soaring National Debt Takes Backseat to Bailout

Congressional Budget Office says deficit could reach $700 billion this year

(Newser) - There's a strange silence in Washington these days about the federal deficit, the New York Times reports, as the immediate economic crisis trumps worries about adding hundreds of billions in debt. Lawmakers on both sides of the aisle are unusually sanguine about paying for the bank bailouts and another proposed...

Pork or Stimulus? Wrangling Sharpens Over 2nd Bailout

Partisan battle lines already being drawn as economic slump appears to worsen

(Newser) - Congress’ partisan battle over the Wall Street bailout could look amateur compared to what lies ahead, the Los Angeles Times reports, as lawmakers consider a second stimulus package to keep the nation out of a steep recession. Republicans want tax cuts, while Democrats are pushing infrastructure projects and other federal...

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