Barack Obama unveiled plans yesterday to divert some of the $200bn (€136bn) in lower than expected spending on troubled bank assets to boosting job creation, in what amounted to a second fiscal stimulus.
But the US president, who said his proposals were aimed at alleviating the “continued human tragedy” of unemployment, declined to put a cost on the measures he outlined.
Declaring his objective was to create “the greatest number of jobs while generating the greatest value for our economy”, Mr Obama voiced concern for the travails on Main Street while trying to shore up his credentials on fiscal responsibility.
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