Sunday, February 8, 2009

Stimulus Plan

Battle over stimulus plan tests Obama's mettle

SAN FRANCISCO CHRONICLE — He's calm, he's cool, he's been called "No Drama Obama" - but President Obama is going to need every bit of that reserve this week as he takes to the road to sell his stimulus package.
Obama has barely learned his way around the White House and just took his maiden voyage on Air Force One last week, but thanks to the economic meltdown, change has already come in a big way in Washington.
In the three short weeks since Obama took office, Obama headlines have shifted from wonder and awe at his ascendancy to outright shock and awe at the partisan battling over his stimulus package.
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Stimulus sparring will test Congress

The Seattle Times -- The Senate agreement on a roughly $827 billion economic-stimulus bill sets up tough negotiations with the House, primarily over tens of billions of dollars in aid to states and local governments, tax provisions, and education, health and renewable-energy programs.
Congress is racing to complete the legislation this week.
The price tag for the Senate plan is only slightly more than the $819 billion measure adopted by the House. Both plans are intended to blunt the recession with a combination of quick-acting tax cuts to help increase spending by consumers and businesses, and slower long-term government spending on public-works projects and other programs to create more than 3 million jobs.
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President's Economic Adviser Pushes for Speed, Social Spending in Recovery Bills

FOX NEWS --- President Obama's top economic adviser on Sunday urged Congress to move quickly on a massive spending and tax cut plan that he says can combine the best of separate House and Senate packages yet to be finalized for a presidential signature.
National Economic Council Chairman Larry Summers said the two bills -- a House version unanimously opposed by Republicans and a Senate compromise still in the works -- are 90 percent alike. Differences, therefore, must be dealt with in an urgent manner so government can start rolling out cash for infrastructure, health care, education and tax cuts aimed at helping the economy recovery from a prolonged and far-reaching slump.
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