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NEWS ABOUT: economic stimulus package

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Texas Gov Gets Grief Over Stimulus Rejection

(Newser) - The fallout from Texas Gov. Rick Perry's rejection of $555 million in stimulus funds for unemployment benefits could threaten his re-election bid—but as other politicians cave to public pressure, Perry has yet to waver, NPR reports. "Everything's going to be viewed through that prism," says the editor... More »

Merkel Emerges as Obama's Main Rival

German chancellor emphasizes friendship, but opposes stimulus

(Newser) - Angela Merkel stresses that she is a friend of the United States and wants Washington to play "a strong role in the world"—but ahead of the G20 summit this week, the German chancellor has emerged as the strongest and most unwavering opponent of Barack Obama's call for... More »

Obama: G20 Will Prepare World for Recovery

Upbeat prez dismisses rift with Europe over need for stimulus

(Newser) - Barack Obama voiced optimism for a global deal at this week's G20 summit in London and downplayed talk of a split between the US and Europe, in his first interview with a foreign publication, the Financial Times. Saying that "we need stimulus and we need regulation," the president... More »

ACLU: Lobbyist Rules Restrict Free Speech

(Newser) - The ACLU and other watchdog groups on both the left and right think President Obama is carrying his crusade against lobbyists too far, Politico reports. Obama's recent directive forbidding government officials from discussing how to spend the stimulus with lobbyists infringes on free speech, they say. The groups plan to... More »

EU President's 'Road to Hell' Remark Was an AC/DC Refence

Topolanek reveals metalhead sympathies

(Newser) - Politically minded rock fans surely giggled when the Czech PM called President Obama’s stimulus plan a “road to hell.” They’re on to something: Mirek Topolanek, who holds the rotating EU presidency, says he was influenced by a recent AC/DC concert and what he called the band's... More »

Safety Nets Help Europe Resist Stimulus

Protections for workers put in place long ago may lessen the need

(Newser) - Ahead of next week's G20 summit, the US and Europe are engaged in a major dispute over the best way to end the global recession: Washington wants more stimulus, while Germany and other EU nations say they've done enough. One overlooked factor in the debate, writes Nicholas Kulish in... More »

EU Prez Slams Obama's Call for Stimulus as 'a Way to Hell'

So what if Czech PM's gov't has collapsed

(Newser) - Mirek Topolanek, the Czech prime minister whose government collapsed last night, today blasted President Obama’s economic ideas, calling further stimulus “a way to hell.” Topolanek spoke before the European Parliament just hours after Obama called on the world to share the burden of economic stimulus, the BBC... More »

Obama Needs Help Selling Economic Plans

His team lacks common touch

(Newser) - The White House economic team is great on policy, but when it comes to reassuring the public, President Obama is on his own, Peter Nicholas and Peter Wallsten write in the LA Times. "The ability to communicate with average people was not what these people were chosen for,"... More »

US-Style Stimulus Might Not Be Right for Europe

To each economy its own, says central bank head

(Newser) - Today, in newspapers worldwide, President Obama called on nations to stimulate their economies, but Europe isn't sold on the idea. Europe's leaders are viewed as cautious, but perhaps their “policy is appropriate for European conditions,” Jack Ewing writes in Der Spiegel. For one thing, Europe already spends much... More »

Obama to G-20: We Must Act Fast on Crisis

Responds to Europe's stimulus reluctance with global op-ed blitz

(Newser) - President Obama published an op-ed piece in more than 30 newspapers worldwide today, urging the G-20 nations to take immediate, bold action to fix the economy. “The United States is ready to lead,” he wrote in the Los Angeles Times, among others, “and we call on our... More »

Foreign Tech Firms Look to Cash In on Stimulus

(Newser) - A gaggle of foreign businesses are quietly clamoring for a piece of the $787 billion US stimulus package, the Washington Post reports. The bill sets aside billions for technologies pioneered by European and Asian companies, such as clean energy and high-speed transit. Many of those firms have significant US presences,... More »

If I Knew, I Would Have 'Rejected' Legislation: Dodd

(Newser) - Sen. Chris Dodd says that if he had known the purpose of changes to legislation he drafted for the stimulus package, he “would have flatly rejected it,” CNN reports. Dodd’s rewrite, at the behest of unnamed Treasury officials, allowed AIG and others receiving federal assistance to dole... More »

Palin Rejects a Third of Stimulus Cash

Critics say Alaska gov. is turning down funds to further national political career

(Newser) - Sarah Palin is refusing to accept almost a third of stimulus funds offered to Alaska, the Anchorage Daily News reports. The governor—who can be overruled by the state legislature—says the funds, including $170 million for education, would expand government, but critics charge that she is going against Alaska's... More »

White House Foists Bonus Blame on Dodd

Guilty Obama officials seek to shift AIG fault, press plays along

(Newser) - The White House is trying to pass the AIG bonus blame to Sen. Chris Dodd, pointing to his hand in an executive-compensation clause inserted into the stimulus bill—and journalists are letting it happen, writes Glenn Greenwald in Salon. Actually, the bonuses were only possible because the Obama administration insisted... More »

Stimulus in Hand, States Race to Start Projects

NE, CA, MO, and MD all moved immediately with federal dollars

(Newser) - Four states—Nebraska, Missouri, California, and Maryland—claim to be the first to use their federal stimulus money, the New York Times reports. "Our project is definitely the first one to use shovels," said an official in California, where forest trail work started yesterday. But shovels aside, Missouri... More »

Scammers Set Sights on Desperate Homeowners

Calif. AG: Be 'deeply skeptical' of offers to help refinance

(Newser) - A record 5.4 million homeowners across the country are behind on their mortgages, and scam artists are looking to cash in, the San Francisco Chronicle reports. Ads offering help lowering mortgage payments are everywhere. But these "loan negotiators" usually provide services that homeowners can handle on their own,... More »

Obama to Reach Out to Small Business

Prez to unveil a $730M effort after GOP backlash on spending

(AP) - Amid misgivings over his spending blueprint, President Barack Obama will provide billions of dollars in federal lending aid aimed at struggling small business owners, the AP reports. The package, to be announced tomorrow, includes $730 million from the stimulus plan that will immediately reduce small-business lending fees and increase the... More »

Summers: Stimulus Is Starting to Work

(Newser) - Larry Summers sounded a note of cautious optimism today about President Obama's stimulus plan, the Washington Post reports. While it's way too early to assess its "broader economic impact," Obama's chief economic adviser called it "moderately encouraging" that consumer spending appears to be back on track. More »

Texas Gov. Rejects $556M Stimulus for Jobless

Perry says coverage for unemployed would 'drown' businesses

(Newser) - The governor of Texas has rejected $556 million in federal stimulus money for the state's unemployed, saying yesterday it had too many strings attached, reports the Dallas Morning News. Rick Perry, a Republican, said that the federal rules would burden Texas businesses with new commitments; instead they should be able... More »

Dems Keep Distance From Possible 2nd Stimulus

GOP says talk of new bill is admission of failure

(Newser) - Nancy Pelosi said this week “we have to keep the door open” to the possibility of a second stimulus bill—but most lawmakers, including fellow Democrats, are allergic to the idea, Politico reports. “If there’s appetite, there’s not in my office,” said one. “Enough... More »

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