Stimulus for the Economic Meltdown by Daniela Simkova

The stock meltdown overnight made the lawmakers and the administration consider next step in the way how economy should develop. Does the U.S. economy need a stimulus to progress again? This is the question that was trying to be solved by Congress. Nancy Pelosi, a White House speaker said: "This is about one thing in this package: Is it a stimulus? So whatever it is that we are considering, it must meet that one criterion: Does it stimulate the economy? Does it put money into the hands of those who will spend it?" President George Bush has shown that he understand the importance of the economic question and thus wants to make sure that investors and consumers will be protected from the bigger financial loose. The meeting of Congress resulted into finding a way that economy should be proceeded. "I believe we can find common ground to get something done that's big enough, effective enough so that an economy that is inherently strong gets a boost â€" to make sure that this uncertainty doesn't translate into more economic woes for our workers and small business people," said Mr. Bush. The Federal Reserves surprised with a rates cuts from 4.25 percent to 3.5 percent. This reduction is the biggest one made overnight since 1990.

by Daniela Simkova for PocketNews (http://pocketnews.tv)

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