2009/2/10

U.S. Senate resolution calls softening treatment "Buy American" program

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The United States Senate, Barack Obama on economic stimulus plan relates to "buy American goods" projects to a vote, and ultimately passed a resolution asking the Government to soften the deal in the scheme. "Buy American" is Obama raised 900 billion U.S. dollars to stimulate an important component of the program, but Obama had previously expressed concern that the plan might lead to international trade, and expressed the hope that Congress will modify the contents of the original plan. Senators by voice vote approved an amendment to the amendment after the statement with the United States to disrupt trade relations between Canada and the European Union's "Buy American" program must be "consistent with international trade Act the obligation of the United States." Prior to the "Buy American" plan stipulates that any U.S. government economic incentives, including infrastructure construction, large-scale public works construction projects, the United States must use its own production of iron and steel and building materials. This provision is clearly contrary to the rules of international trade, but also runs counter to the United States on the North American Free Trade Area of the commitments made

The United States Senate passed a total of 838 billion U.S. dollars economic stimulus plans

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The United States Senate on the 10th in the final ballot by 61 votes to 37 votes in the results of the vote, approved a total of 838 billion U.S. dollars of economic stimulus plan. Obama said the United States President, this is a "good news." Prior to this, the U.S. House of Representatives has approved a total of 819 billion U.S. dollars of economic stimulus plan. In the Senate passed its own version, the Senate and House of Representatives need to consultations, the elimination of differences in the formation of a unified version put to the vote again, after the adoption by the president signed. The economic stimulus plan includes tax relief plan, infrastructure investment and finance a wide range of content Relief Fund. The new plan will soon be signed by President Obama. Prior to this, President Obama To promote the adoption of the plan has made tremendous efforts. The United States issued 1.5 trillion U.S. dollars of financial aid case In the Senate of one hundred million U.S. dollars more than 8000 economic stimulus plan a few hours before the final vote, U.S. Treasury Secretary Timothy Geithner announced in Washington a total of up to 1.5 trillion U.S. dollars of a new round of comprehensive financial rescue plan. In order to distinguish it from the Bush administration, Geithner announced the program renamed the Financial Stability Plan (FSP). The U.S. Congress passed in October last year a total of 700 billion U.S. dollars of so-called problem of asset relief program (TARP), the U.S. Congress last month approved the new government to spend the remaining funds of 350 billion U.S. dollars. 9 day in the White House conference, Obama hinted that authorities may have to further expand the scale of the financial rescue. The new program includes three aspects: for the banks to inject more funds, up to one trillion U.S. dollars of credit financing, as well as by the Government and private funds jointly set up a similar "bad bank" to acquire the banking institutions "toxic assets." Obama economic policies to stimulate the immediate difficulty of Health With the Bush administration's program to rescue the market compared to this Obama's rescue measures from the financial sector entities have turned to the economy. Through investment in infrastructure and new energy development to improve the United States economic recovery and employment is to stimulate this policy. The policy-related funding to stimulate large-scale, but most analysts reckon that this measure is difficult to play an immediate role in the United States as early as six months after the economy stable, and gradually picked up