Saturday, February 7, 2009

US $780 billion bailout package finally agreed


WASHIGTON: US stimulus plan has finally got the approval of the Senate, but the size of the plan has been cut down to $780 billion from $819. President Obama had announced a bailout package of $819 billion for reining in the ever- deteriorating economic downturn, which was hotly discussed and deliberated both in the Congress and the senate before it could finally get the assent. President Obama said that the skyrocketing US joblessness demanded immediate action and passing out of this Bill, which the Republicans in senate and Congress procrastinated causing delay. However, the lawmakers of both the Houses have now approved this plan, but with a cut in the amount of the plan, which required taking final decision from the Congress members once more.

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