February 19, 2009
Re "Obama: Bill is 'beginning of the end' of downturn," Feb. 18 Now that the economic stimulus package has been signed into law, let's review what just happened. Every Republican congressman voted against it, and all but three Republican senators did the same. Rep. John A. Boehner (R-Ohio) called it a "flawed bill" and a "special-interest, pork-laden, partisan, backroom deal that will do little to get our economy back on track." The Republicans now have a vested interest in this bill's failure.
August 6, 2010
After a protracted debate, the Senate passed a pared-down bill Thursday to provide $26 billion in aid to financially strapped states to help pay teachers salaries and Medicaid benefits. The measure signaled the unofficial end to Congress' efforts to stimulate the economy with borrowed money; the new spending in the state aid proposal was more than offset by eliminating a tax break for corporate earnings overseas, rolling back food stamp benefits to pre-recession levels and cutting Medicaid payments for selected drugs.
September 13, 2012 |
The Federal Reserve announced a new program Thursday to buy $40 billion worth of mortgage-backed securities a month to help stimulate the economy. How will buying bonds help the real estate market and the broader economy? Will it create jobs? Join economy reporter Jim Puzzanghera in Washington, stock market reporter Andrew Tangel in New York and deputy business editor Joe Bel Bruno in Los Angeles for a Google+ Hangout discussion about the Fed's action. We invite you to join in on the conversation by posting comments and questions below on this blog post.
July 20, 2009 |
In February, when Congress approved President Obama's mammoth plan to stimulate the economy, transportation projects were supposed to be among the fastest-acting pieces of the $787-billion package. All 50 states moved quickly to qualify for their share of the money. But since then the pace has slowed considerably, particularly in California and Florida, where the effect of the economic crisis has been especially severe.
May 22, 2013 |
WASHINGTON - A top Federal Reserve official said Wednesday that a decision on reducing the central bank's unprecedented economic stimulus efforts still is three to four months away as policymakers first must determine if the recovery is strong enough to handle such a pullback. "It's really about achieving escape velocity," William C. Dudley, president of the Federal Reserve Bank of New York, told Bloomberg TV. "When are we going to have an economy where everything is sort of self-reinforcing: the jobs generate income, the income generates demand, the demand generates more employment," he said in an interview that was taped Tuesday.
June 24, 2010 |
When the Senate voted last week on whether its latest jobs bill would move forward, one Democrat, Ben Nelson of Nebraska, broke ranks and stood with Republicans to block the measure from getting a final vote. "I've got bailout fatigue," Nelson explained. " Washington needs to put a plug in deficit spending." A bill to extend unemployment insurance and save teachers' jobs shouldn't be this hard to pass. But this one started as a $140-billion stimulus package, was whittled down last week to $118 billion and is now headed below $100 billion.
February 18, 2010 |
One year after launching the largest federal economic stimulus program in American history, a fiercely partisan political battle continued to rage over its effectiveness even as fresh data showed the economy continuing to make a gradual, if halting, recovery. In what has become a predictable pattern, Democratic and Republican leaders in Washington marked the Wednesday anniversary by sniping at each other's claims about the $787-billion package of tax cuts and spending known as the Recovery Act. Defending the stimulus, President Obama said that "one year later, it is largely thanks to the Recovery Act that a second Depression is no longer a possibility."
May 18, 2012 |
HILLSBOROUGH, N.H. -- Mitt Romney rounded out a week focused on what he views as overspending by the federal government with a critique of President Obama's stimulus program during a speech in front of what opponents call New Hampshire's "bridge to nowhere. " Romney has argued throughout the campaign that Obama's $787-billion American Recovery and Reinvestment Act was a waste of money that did little to jumpstart the economy -- and he has charged that the federal government has inflated the job numbers associated with various projects.
May 22, 2013 |
WASHINGTON -- Some Federal Reserve officials said they were willing to start ratcheting back the central bank's stimulus program as early as June if the economic recovery strengthened further, according to minutes from their policy meeting three week ago. Wednesday's release of the minutes from the April 30-May 1 meeting helped roil financial markets already trying to digest earlier comments by Fed Chairman Ben S. Bernanke about the controversial bond-buying...