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.
Taiwan is projected to lose a working-age population of about 6.67 million people in two waves of retirement in the coming years, as the nation confronts accelerating demographic decline and a shortage of younger workers to take their place, the Ministry of the Interior said. Taiwan experienced its largest baby boom between 1958 and 1966, when the population grew by 3.78 million, followed by a second surge of 2.89 million between 1976 and 1982, ministry data showed. In 2023, the first of those baby boom generations — those born in the late 1950s and early 1960s — began to enter retirement, triggering
ECONOMIC BOOST: Should the more than 23 million people eligible for the NT$10,000 handouts spend them the same way as in 2023, GDP could rise 0.5 percent, an official said Universal cash handouts of NT$10,000 (US$330) are to be disbursed late next month at the earliest — including to permanent residents and foreign residents married to Taiwanese — pending legislative approval, the Ministry of Finance said yesterday. The Executive Yuan yesterday approved the Special Act for Strengthening Economic, Social and National Security Resilience in Response to International Circumstances (因應國際情勢強化經濟社會及民生國安韌性特別條例). The NT$550 billion special budget includes NT$236 billion for the cash handouts, plus an additional NT$20 billion set aside as reserve funds, expected to be used to support industries. Handouts might begin one month after the bill is promulgated and would be completed within
NO CHANGE: The TRA makes clear that the US does not consider the status of Taiwan to have been determined by WWII-era documents, a former AIT deputy director said The American Institute in Taiwan’s (AIT) comments that World War-II era documents do not determine Taiwan’s political status accurately conveyed the US’ stance, the US Department of State said. An AIT spokesperson on Saturday said that a Chinese official mischaracterized World War II-era documents as stating that Taiwan was ceded to the China. The remarks from the US’ de facto embassy in Taiwan drew criticism from the Ma Ying-jeou Foundation, whose director said the comments put Taiwan in danger. The Chinese-language United Daily News yesterday reported that a US State Department spokesperson confirmed the AIT’s position. They added that the US would continue to
One of two tropical depressions that formed off Taiwan yesterday morning could turn into a moderate typhoon by the weekend, the Central Weather Administration (CWA) said yesterday. Tropical Depression No. 21 formed at 8am about 1,850km off the southeast coast, CWA forecaster Lee Meng-hsuan (李孟軒) said. The weather system is expected to move northwest as it builds momentum, possibly intensifying this weekend into a typhoon, which would be called Mitag, Lee said. The radius of the storm is expected to reach almost 200km, she said. It is forecast to approach the southeast of Taiwan on Monday next week and pass through the Bashi Channel
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