US President Barack Obama was making another push for congressional approval of his economic rescue package hours after accusing critics of his nearly US$1 trillion plan of ignoring the depth of the US financial crisis.
Talking to fellow Democrats in Williamsburg, Virginia, on Thursday night Obama said the package “is not going to be absolutely perfect,” and that no one was going to get everything they wanted in it. But he said the plan’s scope was right and he reiterated his message that inaction would bring catastrophe.
The economic stimulus package is Obama’s top legislative priority. He has worked hard to obtain at least some Republican support for it — with no luck so far.
“He’s saying that he’s willing to go anywhere and talk to anybody in order to get a recovery and reinvestment plan that moves this economy forward,” press secretary Robert Gibbs said.
A US$819 billion version of the bill passed in the House of Representatives last week and in the Senate, moderates worked late on Thursday to cut tens of billions of dollars from the US$920 billion Senate version hopefully clearing the way for passage.
Passage of the bill in the Senate would turn the tide on a bad week for Obama, who had seen two nominees for key positions withdraw under a cloud of tax problems. Another Cabinet nominee hit an obstacle on Thursday — a Senate panel abruptly postponed a confirmation vote on Labor Secretary nominee Hilda Solis after revelations that her husband had some tax problems.
Obama has not had much luck so far building bipartisan support for the huge stimulus measure. As it was constructed in both houses of Congress, pet Democratic spending programs were inserted into the measure, providing easy public targets for Republican criticism.
The Ministry of Transportation and Communications yesterday inaugurated the Danjiang Bridge across the Tamsui River in New Taipei City, saying that the structure would be an architectural icon and traffic artery for Taiwan. Feted as a major engineering achievement, the Danjiang Bridge is 920m long, 211m tall at the top of its pylon, and is the longest single-pylon asymmetric cable-stayed bridge in the world, the government’s Web site for the structure said. It was designed by late Iraqi-British architect Zaha Hadid. The structure, with a maximum deck of 70m, accommodates road and light rail traffic, and affords a 200m navigation channel for boats,
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest foundry service provider, yesterday said that global semiconductor revenue is projected to hit US$1.5 trillion in 2030, after the figure exceeds US$1 trillion this year, as artificial intelligence (AI) demand boosts consumption of token and compute power. “We are still at the beginning of the AI revolution, but we already see a significant impact across the whole semiconductor ecosystem,” TSMC deputy cochief operating officer Kevin Zhang (張曉強) said at the company’s annual technology symposium in Hsinchu City. “It is fair to say that in the past decade, smartphones and other mobile devices were
US-CHINA SUMMIT: MOFA welcomed US reassurance of no change in its Taiwan policy; Trump said he did not comment when Xi talked of opposing independence US President Donald Trump yesterday said he has not made a decision on whether to move forward with a major arms package for Taiwan after hearing concerns about it from Chinese President Xi Jinping (習近平). Trump’s comments on Taiwan came as he flew back to Washington after wrapping up critical talks in which both leaders said important progress was made in stabilizing US-China relations even as deep differences persist between the world’s two biggest powers on Iran and Taiwan. “I will make a determination,” Trump said, adding: “I’ll be making decisions. But, you know, I think the last thing we need right
TAIWAN ISSUE: US treasury secretary Scott Bessent said on the first day of meetings that ‘it wouldn’t be a US-China summit without the Taiwan issue coming up’ There were no surprises on the first day of the summit between US President Donald Trump and Chinese President Xi Jinping (習近平), the Mainland Affairs Council (MAC) said yesterday, as the government reiterated that cross-strait stability is crucial to the Asia-Pacific region, as well as the world. As the two presidents met for a highly anticipated summit yesterday, Chinese state media reported that Xi warned Trump that missteps regarding Taiwan could push their two countries into “conflict.” Trump arrived in China with accolades for his host, calling Xi a “great leader” and “friend,” and extending an invitation to visit the White House
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