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This week immediately after signing the death knell “stimulus” spending package in Denver, Mr. Obama made an overnight stop in my former state of Arizona, the state I left now almost two years ago after being one of the early victims of the housing and mortgage crisis….
There will be a lot to talk about at this weekend’s G7 meeting. Obviously, the financial crisis and how to handle it will be an important theme. However, another pressing issue has emerged recently: Growing signs of protectionism. The US stimulus package, for instance, includes a ‘Buy American’ provision requiring that only US materials be used in construction projects funded by the bill. The Buy American clause has been heavily criticised by both the EU and Japan, so the bill has now been softe
Dear President Obama, Welcome to the desert, I hope you have brought with you a plan for the ages that will help you and your team go down as the “financial saviors” of our generation. You managed to push a very large stimulus package through that will hopefully help get our economy back on track – or at least on something that resembles a track. I know that you may find this hard to believe, but when you come to town, the “mainstream media” tries to get out in front of you and “build a st
by Peter Nicholas President Barack Obama is venturing out of the White House today for a Western swing that will see him sign into law the $787 billion stimulus package and roll out a plan meant to keep struggling families from losing their homes. The two-day trip to Denver and Phoenix reflects a decision by the president to escape the Beltway at least once a week in hopes of staying in closer contact with ordinary Americans. The visit also taps into Obama’s political strength, placing him in
US Fed announcing another $800 billion stimulus package at the end of November. About $600bn is marked to buy up mortgage-backed securities while $200bn will be aimed at unfreezing the consumer credit market. This also reflects how the crisis has spread from the financial markets to the “real economy” and consumer spending.
