Obama Stimulus Passes In Senate

Obama's $838 billion stimulus plan has passed in the U.S. Senate. The Stimulus is apart of a wide ranging plan, to rebuild and restart the U.S. economy, that has been suffering massive losses. U.S. Stocks tumbled 300 points today on the announced passage of the bill.

$838 billion is a lot of money. I don't feel good about this plan. Yes, money is needed for job creation, but this is far too much debt, that can have terrible financial repercussions. They need to be very cautious with how they spend this money. 

There is also talk of another rescue deal in the works, thought to be worth as much as $1.5 trillion. Once again, this is way too much debt. Former president George W. Bush already sent the national debt from one to eleven trillion.

Senate backs Obama's bank bailout as details of new $1.5trillion rescue deal are revealed

Barack Obama's economic stimulus plan was today passed by the Senate but with limited Republican support.

The $838 billion package of tax breaks and public spending projects was approved by 61 to 37 votes, after just three opposition senators were persuaded to back the bill.

http://www.dailymail.co.uk

Senate passes Obama's economic recovery plan

WASHINGTON (AP) - President Barack Obama's economic recovery plan has passed the Senate and is on its way to difficult House-Senate negotiations.

Just three Republicans helped pass the plan on a 61-37 vote and they're already signaling they'll play hardball to preserve more than $108 billion in spending cuts made last week in Senate dealmaking. Obama wants to restore cuts in funds for school construction jobs and help for cash-starved states.

Those cuts are among the major differences between the $819 billion House version of Obama's plan and a Senate bill costing $838 billion. Obama has warned of a deepening economic crisis if Congress fails to act. He wants a bill completed by the weekend.

http://www.breitbart.com

Stocks Tumble as Bailout Plan Is Unveiled

US stocks fell sharply Tuesday in a broad-based decline as the government announced details of its latest bailout plan.

The Dow Jones Industrial Average was down more than 300 points after Treasury Secretary Tim Geither revealed details of the bank-bailout plan. Earlier, the blue-chip index was down less than 100 points.

http://www.cnbc.com

China monthly auto sales overtake US for 1st time

SHANGHAI (AP) - China's monthly vehicle sales surpassed those in the United States for the first time in January, moving this country closer to becoming the world's biggest auto market, data released Tuesday showed.

With its growing middle class and vast potential as a consumer market, China is vital for General Motors Corp., Volkswagen AG and Toyota Motor Corp. as they count on demand here to offset weakness in the U.S. and elsewhere.

But China's ascent in the global auto market has been hastened by the plunge in U.S. auto sales, which tumbled 37 percent in January to a 26-year low of 656,976 units.

http://www.breitbart.com