Archive for the “Economic” Category
Full Story at msnbc.com
Nearly a year after the federal rescue of the nation’s biggest banks, taxpayers have begun seeing profits from the hundreds of billions of dollars in aid that many critics thought might never be seen again.
The profits, collected from eight of the biggest banks that have fully repaid their obligations to the government, come to about $4 billion, or the equivalent of about 15 percent annually, according to calculations compiled for The New York Times.
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Posted by doris in Budget, Congress, Democrat, Economic, Government, Health Care, Politcal, Presidental, Republican, Stimulus, Tax, White House
Full Story at CNN.com
Activists said the TEA Party Day — an acronym for “Taxed Enough Already” — was in response to what they called runaway government spending.
They are taking to task the Obama administration’s stimulus program and health care initiative, and say Congress is not giving constituents enough information about where their tax money is spent.
People at the rally expressed outrage at the $787 billion economic stimulus plan passed earlier this year, saying the bill racked up a huge national debt that will be passed onto their grandchildren. They said President Obama’s push for health-care overhaul is “socialism,” and believe it would negatively affect the quality of care.
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Full Story At CNN.com
Vice President Joe Biden on Monday is presenting to President Obama the “Roadmap to Recovery,” a plan to accelerate the implementation of the $787 billion stimulus plan in its second 100 days.
Obama signed into law the American Recovery and Reinvestment Act in February, vowing the program would create or save 3.5 million jobs. So far, 150,000 jobs have been saved or created by the plan — fewer than that 345,000 jobs lost in May alone.
The White House says as a result of the expedited pace, the recovery plan will create or save more than 600,000 jobs in the second 100 days.
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Full Story At msnbc.com
WASHINGTON – Top executives of the nation’s biggest banks said Friday after meeting with President Barack Obama that they will work with the administration on its economic recovery plans, but want more specifics from the White House.
Bankers said an administration proposal to jump-start lending, a problem at the heart of the industry’s crisis, is encouraging.
“People are looking at that. It’s positive,” Morgan Stanley’s John Mack told The Associated Press in an interview. “
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