President Barack Obama called for a major new burst of federal spending Tuesday, perhaps $150 billion or more, aiming to jolt the wobbly economy into a stronger recovery and reduce painfully persistent double-digit unemployment.

Despite Republican criticism concerning record federal deficits, Obama said the U.S. has had to “spend our way out of this recession.” (Read more from news.yahoo.com)

This entry was posted on Tuesday, December 29th, 2009 at 4:17 am and is filed under Money/Economy/Taxes.