Obama set to sign stimulus plan

The US economic rescue package which has dominated President Barack Obama’s first month in office will be signed into law by the President today.

The President has travelled to Colorado for the occasion, choosing a science museum in Denver to launch his plan to create green, energy-related jobs.

It allowed him to leave Washington, where partisan differences were eventually overcome in Congress.

The lion’s share of the 620 million euros will go on infrastructure projects meant to boost both short term job creation and long-term economic stability.
Another part will go on tax cuts.

In the capital itself, the heads of struggling car giants General Motors and Chrysler will report on progress in their efforts to stay afloat. Between them the two companies will have been given more than 13 billion euros worth of taxpayers’ money, and government officials will want to know how that is to be spent. A comprehensive economic survival plan is to be presented before the end of March.

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tags: Cars, Financial Crisis, USA