Obama’s plan to jumpstart the economy with $50 billion
2008-06-10 15:16:43 (GMT) (Caymanmama.com - Government News)New York City, New York (CaymanMama.com) – With a two week economic tour, Barack Obama said on Monday that the lawmakers should provide $50 billion into the US economy that is facing the heat of slow down and recession. The Democratic Presidential nominee said that there has been marked hike in unemployment rate since the last 20 years along with the hike in fuel prices, foreclosures and food.
Obama claims that this type of change cannot wait until after the presidential election. In sight of this, the Democratice candidate has summoned another fiscal stimulus of $50 billion to help those suffering from the economic slump.
Obama added that he supports extension and expansion related to unemployment benefits along with checks based on tax rebate. On last week, Obama said that the Bush government needs to do more on issues regarding unemployment and asked for a second round for fiscal stimulus. On February, an economic package was passed that features tax cuts. According to the Treasury department, so far there have been payments worth $57 billion. One another bill that is expected to be introduced asks for 13 week benefits on Federal payments.
Obama did not disclose the amount of money that would go to for payment benefits yet most of the amount from the $50 billion package will be spent on rebates.
CaymanMama.com - Press Release Distribution Service
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