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Obama unveils US$3.83tril budget with massive deficit

WASHINGTON: President Barack Obama sent Congress his new budget Monday, a plan that forecasts the government spending a record US$1.66 trillion more than it takes in through taxes

Business

Obama ends live TV health summit, accord unlikely

WASHINGTON: President Barack Obama ended an extraordinary live-on-TV summit on health care overhaul Thursday with the bleak assessment that accord between Democrats and Republicans on his top domestic priority may not be possible.hr noshade size=-1 width=50%>

Business

Key Obama economic aide, resigning

WASHINGTON: One of President Barack Obama's most pivotal economic advisers is resigning, a change that comes as the White House struggles to show signs of clear economic gains to a hurting nation as the November congressional elections approach.

Business

Obama says recession recovery to take few years

SEATTLE: A campaigning President Barack Obama said Tuesday it will take a few years to dig the United States out of the recession, warning impatient voters that any candidate promising faster results is just looking for your vote.

Business

AP Poll: Obama at new low for handling economy

WASHINGTON: President Barack Obama earned his lowest marks ever on his handling of the economy in a new Associated Press-GfK poll, which also found that an overwhelming majority of Americans now describe America's financial outlook as poor.

Business

Obama sees season of progress at year-end news conference

WASHINGTON: President Barack Obama celebrated a bipartisan season of progress on Wednesday at a year-end news conference marking an up-and-down second year in office that blended a thrashing at the polls, slow progress on the economy and late victories in Congress.

Business

Obama stimulus plan boosts business tax refunds

WASHINGTON (AP) - President-elect Barack Obama's proposed stimulus package would provide businesses with billions of dollars in refunds on taxes they paid several years ago.

Business

US Congress clears way for second half of bailout

Congress laid the foundation for President-elect Barack Obama's economic recovery plan on Thursday with remarkable speed, clearing the way for a new infusion of bailout cash for the financial industry while majority Democrats proposed spending increases and tax cuts totaling a whopping $825 billion.

Business

Obama rejects 2nd stimulus: Give recovery time

WASHINGTON (AP): President Barack Obama on Saturday dismissed the idea that the United States might need a second stimulus to jolt the economy out of recession and urged Americans to be patient with his economic recovery plan.

Business

US Fed's Bernanke picked for second term

OAK BLUFFS, Massachusetts: Federal Reserve Chairman Ben Bernanke, widely credited with taking aggressive action to avert an economic catastrophe after the financial meltdown last fall, will be nominated by President Barack Obama for a second term, The Associated Press learned Monday night (Tuesday morning Malaysian time).