Obama Rescues The Market, Saves The Economy Is Not Rescues The Finance

Obama is planning to launch a huge economic stimulus plan on "accession to the throne".

The staff of Barack Obama and incumbent president Bush are busy drawing up measures to boost the financial market and avoid the policy vacuum caused by the change of white house to further damage the US economy. Obama,

According to Obama's aides and advisers, local time on November 23rd revealed that the Obama team is building an economic stimulus plan that contains more than 500 billion dollars in federal spending and tax cuts.

This is more daring than any plan that was envisaged during the election.

If we consider the rescue plan together with the financial team Omar has released, the Obama administration's solution to the financial and economic problems has already begun to emerge.

Obama is scheduled to hold a press conference on the 24 day to introduce the leaders of his economic affairs team to the public.

One is Summers, an economist at Harvard University who is chairman of the National Economic Commission of the White House, and the second is Geithner, governor of the Federal Reserve Bank of New York.

The second wave 700 billion rescue plan, two Democratic leaders of the United States Congress, 23, said that Congress is expected to pass the economic stimulus plan before Obama takes office in January 20th next year. The scale of the plan may be as high as 500 billion to 700 billion US dollars.

Democratic Senator Charles Schume, chairman of the Joint Economic Committee of the United States Congress, said in an interview with American Broadcasting Company on the same day: "from now on, Congress will cooperate with the newly elected president, so that he can have an economic stimulus plan he has passed when he takes office."

Schumer emphasized that the scale of the new economic stimulus must be large enough. "I think the plan must be between 500 billion and 700 billion dollars," and when Obama was sworn in, Congress should have voted for Obama only.

Steni Hoyer, the majority leader of the house of Representatives, said in an interview with Fawkes TV on the same day that Congress should be able to pass the plan before Obama took office, but he did not disclose the amount of the scheme.

Obama, speaking in the Democratic Party's weekly radio address 22, said he was preparing his financial team to draft a two-year large-scale economic stimulus plan.

Obama vowed to boost the nation's strength by adding 2 million 500 thousand jobs to the American public by 2011.

He hoped that Congress could pass as soon as possible, so that he could sign on the day he took office.

"We hope that the new Congress will be able to work quickly after assuming office in early January next year, and we hope to run back to the ground in January 20th," Axelrod, Obama's senior adviser to the White House, said on 23.

Next January 20th is the date of Obama's appointment, and Congress will be sworn in next January 6th.

To save the auto industry, in addition to the financial sector, the economic sector facing the most pressing crisis in the United States is the automobile industry.

GM, Ford and Chrysler executives took the luxury private plane hired by the company to Washington on the 19 day, requesting the Congress to save the money and relentlessly dismiss the three.

Members of Congress have asked them to come back after their industry reform and development plan.

Axelrod said that it would not provide a "blank check" for the US auto industry. "Congress sent the right signal. I hope they can put forward the" business plan "in early December, not just" express the need "and then take a commercial flight to Washington.

Axelrod also suggested on the 23 day that Obama may not introduce new taxes in the first two years of his term.

In addition, he also extended his olive branch to the Republicans. According to Broadcasting British Corporation, Axelrod said in his American Broadcasting Company program that Obama is reconsidering another campaign promise, namely, to abolish the plan of tax cuts for Bush's high-income group.

He said Obama might wait until Bush's tax cuts expire in 2010, rather than raising the tax rate for high-income earners.