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Europe rejects U.S. call for more fiscal stimulus
The European government on Monday dismissed the plea of its American counterpart of an increased government spending to counter the raging recession. Europe’s reply raises concerns of a rift over the major issue to be discussed in the forthcoming G20 summit of the world’s largest industrial and developing economies, slated to be held on April... »
Obama unveils $3.55 trillion budget
US President Barack Obama unveiled a USD 3.6 trillion budget for the financial year 2010 on Thursday, aiming to pull the US out of its worst economic crisis since the Great Depression of the 1930s. Obama also projected a USD 1.75 trillion budget deficit for the current year, amounting to 12.3% of annual output and... »
Tough times ahead for US economy warns President Obama
Tough times are on the cards, the words are out from the President. US President Barack Obama says he can foresee several ‘tough months’ ahead for the stressed out US economy. In efforts to infuse some confidence and support to the crippling economy, the president also urged for a bipartisan support for his proposed multi-billion... »
House of Representatives passes $819 billion stimulus package
This is the worst time America is facing, a time when recession is at its peak and thousands are losing their jobs to the tumbling economy. Enter the first black President, Barack Obama and his American Recovery and Reinvestment Act and suddenly the scenario seems to be changing. Aimed at reviving the dipping American economy,... »
