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...bill he signs will create a raft of new programs and be the biggest peacetime spending increase in American history, which will give us larger deficits and create pressure to raise taxes.' KARL ROVE, former senior adviser to George W. Bush, on the $787 billion stimulus bill signed into law by President Barack Obama...
...sarcastically criticize the "mainstream media" as hopelessly liberal. Step 2: repeat for 20 or so abbreviated chapters. Goldberg's objections to "mainstream media" coverage of Barack Obama are fairly well worn. Among the many complaints, he notes that Obama's associations with the Rev. Jeremiah Wright and former Weatherman Bill Ayers didn't get enough press scrutiny during last year's election campaign, while Sarah Palin's clothing and Joe the Plumber's personal life got too much. Because of their fawning over Obama, the "mainstream media"--if the author removed that modifier, this book would be a pamphlet--have...
...Days after Barack Obama's Inauguration that the stimulus bill was signed into law. 3: Total number of congressional Republicans who backed the final package. $400: Value of a refundable tax credit available to people earning less than $75,000 a year beginning in June. $185 billion: Amount the stimulus is expected to add to the federal deficit for the remainder of the 2009 fiscal year. 317: Minutes the final Senate vote lasted, believed to be the longest congressional vote in U.S. history. 320: Miles traveled by Senator Sherrod Brown, from an Ohio memorial service for his mother...
...cheerful band of financial nerds he has charged with saving America's economy. And on the Friday before Presidents' Day weekend, they were ready to show him the latest piece of their rescue plan: the 2010 federal budget. Having just squeezed through Congress what may be the largest spending bill in history, the President now needed to do something that would make the stimulus fight look easy: show the country and the world that he was as serious about preventing waste as he was about promoting growth. Only a lean federal budget would restore consumer confidence, keep congressional spending hawks...
...birthday, Dec. 16, in Chicago, at which Obama showed up with a vanilla cake. Orszag, Summers, Treasury Secretary Timothy Geithner and Orszag's deputy Robert Nabors agreed that there was no avoiding a deficit this year of about $1.5 trillion, including the bank bailout and the stimulus bill. They were prepared to swim even deeper into the red next year, expanding Obama's initiatives on renewable energy and high-speed rail lines and raising the deficit to 10% of gross domestic product, the highest figure since World War II. But assuming the economy has begun to turn around...