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Obama Calls for Rescue and Stimulus September 19, 2008

Posted by trouble97018 in Economy, News, Obama, Politics.

Washington Post/The Trail

Posted at 1:29 PM ET on Sep 19, 2008

By Dan Balz
CORAL GABLES, Fla. — Barack Obama today endorsed moves in Washington to give the Treasury Department and the Federal Reserve broad authority to stabilize the credit markets, but said those actions should be accompanied by a second stimulus package aimed at relieving burdens on families affected by the current economic slump.

Obama, speaking after a meeting with his economic advisers, called the current financial crisis a threat to “the stability and security of our entire global economy.” He said that, in spite of earlier, unprecedented steps by the federal government to stem the crisis in the financial markets, “even bolder and more decisive action” is required.

“I fully support the effort of Secretary [Henry] Paulson and Federal Reserve Chairman [Ben] Bernanke to work in a bipartisan spirit with Congress to find this kind of solution,” he told reporters before speaking at a rally at the University of Miami.  Source Article



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