Barack Obama, Recession | featured news

At fiscal summit, Obama vows to halve deficit

At fiscal summit, Obama vows to halve deficit

President Obama is reaching across party lines Monday to host a bipartisan "fiscal responsibility summit" as the government tackles the seemingly contradictory tasks of controlling a soaring federal deficit while spending the country's way out of a deep recession.

 

Obama aide won't rule out more money for bailouts

President Barack Obama's top economic adviser would not rule out on Sunday that more money may be needed to stabilize the financial system as a deep recession increases banks' losses.

 

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