There are a lot of funds being thrown around to stabilize the economy but these funds doesn’t seem to have reached the middle class and poor people, who really need the bailout. Obama is proposing new strategies to help hurry along the process of pulling the country out of financial turmoil, but will it work is the biggest question. Check it out:
President Barack Obama today proposed new spending on the nation’s infrastructure, tax credits for small businesses to spur hiring and incentives to make homes more energy efficient in a new round of measures aimed at cutting the jobless rate.
Obama also called for “mobilizing” remaining money in the financial-system bailout fund to open up more credit to small businesses.
The president didn’t give a price tag for the proposals. He said they would be at least partly offset by savings in the Troubled Asset Relief Program, which the Treasury has said would cost $200 billion less than originally projected.
“Given the challenge of accelerating the pace of hiring in the private sector, these targeted initiatives are right and they are needed,” Obama said in a speech at the Brookings Institution, a research organization in Washington. “But with a fiscal crisis to match our economic crisis, we… For More Click Here
