09 Sep '11, 10pm

Obama goes big, investors unimpressed - TODAYonline

WASHINGTON - Mixing punchy rhetoric with sarcastic jabs, United States President Barack Obama challenged lawmakers to "pass this jobs Bill" - a US$447-billion (S$547-billion) package of tax cuts and new government spending designed to revive a stalling economy as well as restore his own political standing. Speaking to a joint session of Congress on Thursday evening (Friday morning, Singapore time), Mr Obama listed a slew of measures that he emphasised had been supported by both Republicans and Democrats in the past. To keep the proposals from adding to the swelling federal deficit, he said he would set his sights on a more ambitious target for a long-term reduction of the shortfall. But investors worldwide were not convinced that enough was being done to bolster the world's largest economy despite the package being much bigger than the US$300 billion expected. And given th...

Full article: http://www.todayonline.com/Business/EDC110910-0000315/Oba...

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