Obama says economic rescue will trump deficit fight
President elect Barack Obama said recovery efforts will take priority over deficit concerns when he takes office in January. He promised a page by page budget review to cut waste while pursuing a 2.5 million jobs goal by 2010 and named Peter Orszag as budget director. He warned the deficit could top 1 trillion as bailouts and stimulus raise spending. He urged bipartisan collaboration and pledged careful fiscal reform to avoid leaving a debt burden to future generations.
MENTIONED IN THIS ARTICLE
CuHienco
Barack Obama
Peter Orszag
Congressional Budget Office
Obama
Commerce Department
Obama urges bank chiefs to forgo bonuses in tough times
President-elect Barack Obama tells Barbara Walters that bank executives should sacrifice this year as many face hardship. He says those worth millions who lay off workers should show willingness to sacrifice too. He also criticizes the auto chiefs who sought a bailout as tone deaf to the country’s struggles.
MENTIONED IN THIS ARTICLE
Barack Obama
Barbara Walters
Air Today
Obama
Washington
ABC
AIG Caps Exec Pay With $1 Salary For Liddy And 2009
American International Group moves to curb top executive compensation as it seeks to recover from government aid. Edward Liddy will receive a $1 annual salary for 2008 and 2009, with stock in addition, while bonuses are abolished for 2008 and salaries frozen through 2009 for senior officers.
MENTIONED IN THIS ARTICLE
American International Group Inc
Edward Liddy
AIG
Liddy
Fed pledges $800B to loosen credit amid recession
In Chicago Obama names budget director as both focus on soaring deficits after revival. Paulson says transition team kept informed while Dow climbs 36 points. Fed plans $200B in various debt backed securities plus $500B mortgages and $100B direct mortgage purchases.
MENTIONED IN THIS ARTICLE
Chicago
Barack Obama
Paulson
Obama
Federal Reserve
Fed
Fannie Mae
Freddie Mac
Fannie, Freddie
Federal Home Loan
Treasury
Charles McMillan
National Association of Realtors
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North Carolina
Walters
Nariman Behravesh
IHS Global Insight
Behravesh
Samsung
Iowa
Simply Wireless
E Mobile
Swphones.com
U.S
Puerto Rico
t-Mobile
Deutsche Telekom AG
Dillon’s
Martial Arts Individually Owned
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