Economists agree that a tentative deal between the White House and the Democratic Congress on a 150 billion U.S. dollar economic stimulus plan will be good for the economy in the short term. "When the economy is turning down believe in the Keynsian remedy because you essentially; one way to picture it is if you have empty factories, workers not working, people not buying things. If you can get people to buy things, the factories will start working, it will employ people and all of that will become like a virtual cycle," said economist Dr. Jason Furman testifying before the Senate Finance Committee. The package includes tax rebates for wage earners and business investment incentives. Under the deal, aimed at averting a recession in the struggling U.S. economy, individuals would get a maximum rebate of 600 U.S. dollars and married couples could get up to 1,200 U.S. dollars. Individuals with annual incomes above 75,000 U.S. dollars in adjusted gross income (AGI) or married couples...
Billionaire investor Warren Buffett said on Monday (March 3) the U.S. economy is in recession. Speaking on CNBC television, Buffett said the economy is heading south even though gross domestic...
The U.S. stimulus package is welcomed by some economists at the World Economic Forum, but others say it won't make a difference. While stocks in Asia responded positively to a U.S. tax stimulus on...
George Bush's "Stimulus Plan"WILL NOT STIMULATE AMERICA'S ECONOMYHe is throwing money at us to distract us from the real issues. The government doesn't think Americans are smart enough to figure...
Apr 7 - President Bush met with small business leaders on Monday, and expressed confidence in his economic plan.President Bush says his economic stimulus plan will work given enough time. For the...
Get more on getthedaily.com Wholesale inflation increased 1.2-percent in July, according the US-Labor Department, and that has caused domestic costs to rise at the fastest rate in about...
Fri, 6 Jun 2008 (NECN/ABC) - There are more worrying signs today that the economy continued to weaken. The labor department says the unemployment rate jumped to 5 point 5 per Cent in may- it's...
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