Word: stimulus
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...highly courted by other Democrats who need their votes to pass bills. Blue Dogs voted in favor of a number of Bush-era proposals, including the war in Iraq and warrantless wiretapping. They forced Obama to institute a pay-as-you-go budget plan for his $787 billion stimulus bill, recently delayed the Waxman-Markey climate-change energy bill and blocked legislation that would benefit unions. And now seven of the eight Blue Dogs on the House Energy and Commerce Committee have threatened to vote down Obama's health-care legislation...
...Friday's violence occurred as prospects for China's steel industry are turning around. The government's $586 billion stimulus package has set off a massive infrastructure-building spree, creating a huge demand for steel. In June crude-steel production hit nearly 50 million tons - 6% higher than in the previous year, according to the World Steel Association, and close to an all-time high. "Demand has just exploded in the first half of this year as a result of the government's stimulus package and bank lending," says Jim Lennon, a Macquarie Bank analyst. "Steel demand is massive...
...President Barack Obama has asked the National Endowment for the Arts (NEA) to distribute $50 million in stimulus funds. By early July, 700 arts organizations had received one-time grants ranging from $25,000 to $593,900 to help save jobs. For some groups, these funds are too little too late. "Artists are at the epicenter of a vibrant economy that is reeling from the same effects affecting every other industry," says Yosi Sargent of the NEA. (Read "Bolshoi Blues: Trouble at the Legendary Theater...
Carol Nichols, a jewelry designer, stood up, clutched a microphone and launched in. "There's an incredible amount of spending that we are being asked to finance," she began, "and we are not seeing the benefit." The $787 billion stimulus plan, she declared, has produced "underwhelming" results. Energy costs will go up to fight global warming. And now health-care costs will increase to cover the uninsured. She closed with an admonition: "Part of living within a budget is spending within a budget." Heads nodded as she sat down. (Watch TIME's video "Uninsured Again...
...many economists believe that policymakers will not aggressively rein in monetary policy and stimulus measures, out of fear of squashing Asia's fragile recovery while the global economy remains weak. "There is close to a zero possibility that the Chinese government will do anything this year that constitutes tightening," says Andy Rothman, a Shanghai-based economist for the brokerage CLSA. "The recovery is only in its early stages." And without a major shift in thinking, the easy-money conditions will stay in place - so even if there's no bubble now, there's a good chance one may be forming...