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.
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.
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.
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.
January 29, 2014 |
WASHINGTON - Shrugging off the recent turbulence in financial markets, the Federal Reserve gave an upbeat take on the U.S. economy and went through with a second straight cut to its large bond-buying stimulus program. Although the decision to reduce its purchases was expected, Ben S. Bernanke won rare unanimous backing in his last meeting as Fed chairman Wednesday. The 10-0 vote to make another $10-billion-a-month cut in its bond purchases also cemented the central bank's plan to gradually dial back its unprecedented monetary stimulus.
August 15, 2013 |
NEW YORK --Stocks fell sharply as investors digested an upbeat report on the labor market but weak signals from retail giant Wal-Mart. Major U.S. indexes slumped more than 1.3% in early trading on Wall Street. The Dow Jones industrial average fell 223.24 points, or 1.46%, to 15,114.42. So far this month, the Dow is off 2.4%. The broader Standard & Poor's 500 index dropped 23.65 points, or 1.4%, to 1,661.74. The technology-heavy Nasdaq composite index slid 59.49 points, or 1.62%, to 3,609.78.
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.