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Stimulus Aid Trickles Out, but States Seek Quicker Relief
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Of the $787 billion stimulus program only $46 billion has gone out so far, mostly to help with unemployment checks and for Medicaid, and only $33 million has gone out for transportation projects.
Rising U.S. Foreclosures take on crisis proportions deepening the economic downturn.
08/24/2007
Foreclosures in 2008 hit 16% up from 6% in 2007, and in an accelerating trend if unemployment hits new highs.
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Cutbacks at the state and local level and tax increases to offset much of the Stimulus impact in the USA.
07/28/2008
Much of the Stimulus impact may be eroded by the cutbacks at state and local levels.
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Funds for Highways Plummet As Drivers Cut Gasoline Use
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Facing Deficits, States Get Out Sharper Knives
New York Times 11/17/2008
Gov. Paterson to Propose $4 Billion in Taxes and Fees to Close Deficit
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States Squeeze Cities, Spreading the Economic Pain
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Jon S. Corzine - A Bold Stimulus Package -- $1 Trillion Bold -- Is Needed
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Budget Woes Hit Mass Transit as Tax Revenue Falls
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Failure to stem foreclosures under the Obama administration continues inaction under Bush administration.
08/24/2007
The failure of the Obama administration to break the cycle of foreclosures begetting falling house prices begetting more foreclosures, further weakening the banks and the economy, with strong action. It continues the missteps of the Bush period and may undo much of the good work in other areas such as stimulus, restructuring the auto industry and new priorities. Inaction here is coupled with inaction in relation to insolvent banks and is likely to prove costly.
Grouped Articles
New York Times 07/17/2011
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
New York Times 05/19/2014
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