Word: stimulus
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...Although other experts largely agree that governments - and ultimately taxpayers - will end up footing a hefty bill for all the stimulus money, some don't believe this will necessarily mean that Europe's modest growth rates are doomed to slip back into the red. Eric Heyer, an economist at the French Economic Observatory in Paris, says the official forecasts of continued modest growth are feasible - although that doesn't mean an immediate recovery for many nations. Even if European economies can nurture gradual expansion, he says, most will still see unemployment continue to rise through 2010 and into next year...
...France, where fourth-quarter economic growth was estimated to be 0.3%, officials are now doubling their forecasts for 2010 growth from 0.75% to 1.5%, even though no new infusions of government stimulus cash are planned. Similarly, in Germany, an initial prediction of a 1.2% gain for 2010 has been revised to 1.4% - despite the country's registering a flat fourth-quarter growth figure as government stimulus funds tapered off. (Read "France and Germany Climb Out of Recession...
...Buik worries that the bright outlooks ignore the darker realities of relying on government stimulus money to restore economic growth. "Ultimately, states are going to have to cut spending and raise taxes to pay for what they've already spent," he says. "That means a period of fewer public jobs, reduced aid payments and less disposable income in consumers' pockets. Businesses will only start reinvesting money on production and jobs when they're sure demand has returned - and that isn't likely before we see government undertake cost-cutting we know is inevitable." (Read a piece on London as part...
...bonanza on Wall Street. One of the Obama administration’s purported goals was to help Main Street. The stimulus package, health care reform, and tax credits were all ways in which it was and is trying to achieve this goal. But when John Smith opens up the newspaper, he reads about “Bonus Day” on Wall Street. There is very little about how President Obama is directly working to inform the public of his plans to salvage a deepening recession and how the financial markets are affecting their daily lives...
Equipped with $1.5 billion of the nearly $800 billion stimulus package, the HPRP started giving out funds in October that some experts believe will help an estimated 600,000 Americans avoid homelessness. The program helps people pay security deposits, utility bills, moving bills and rent checks to either avoid eviction or move from transitional housing into their own apartments. The assistance lasts from three to 18 months. People on the verge of homelessness did not qualify for federal assistance previously, says Housing and Urban Development spokesman Brian Sullivan. "Now we are in the prevention game in a way we have...