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Obama economic plan now tops $900 Billion
Published in Saudi Press Agency on 04 - 02 - 2009


The cost of President Barack Obama's
economic recovery plan is now above $900 billion in the
Senate after the chamber added money for medical research
and tax breaks for car purchases.
Meanwhile, Obama cautioned Congress that the final version
of the economic recovery package should not include
protectionist language that could trigger a trade war.
The cost of the package could go higher on Wednesday if a
tax break for homebuyers is made more generous, even as
centrists in both parties promise to clear away spending
items that won't jump-start the economy right away.
In an interview on CNN, Obama signaled a willingness to
drop items that «may not really stimulate the economy
right now.» He also signaled he'll try to remove «buy
American» provisions in the legislation to avoid a
possible trade war.
The $819 billion stimulus bill that passed the House
requires the use of American-made iron and steel for public
construction projects. The Senate is considering even
stronger language.
Obama, without commenting specifically on the wording,
told Fox News he thought it would be a «mistake ... at a
time when worldwide trade is declining, for us to start
sending a message that somehow we're just looking after
ourselves and not concerned with world trade.»
Speaking to ABC News, Obama said, «I think we need to
make sure that any provisions that are in there are not
going to trigger a trade war.»


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