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December 9, 2009

Obama Calls for New Economic Stimulus
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President Obama has unveiled a new round of economic stimulus proposals
to address unemployment. On Tuesday, Obama called for small business tax
cuts, infrastructure spending and a “cash for caulkers” program that
would provide incentives for home weatherization. Obama said an
anticipated lower cost of the Wall Street bailout could help fund his
plan.

President Obama: “TARP is expected to cost the taxpayers at least $200
billion less than what was anticipated just this past summer. And the
assistance to banks, once thought to cost taxpayers untold billions, is
on track to actually reap billions in profits for the taxpaying public.
So this gives us a chance to pay down the deficit faster than we thought
possible and to shift funds that would have gone to help the banks on
Wall Street to help create jobs on Main Street.”



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