For Obama, Stimulus May Have Been the Easy Part
By Ben Pershing
President Obama signed the economic stimulus bill into law yesterday, and now he can take his victory lap, enjoying a well-earned breather for a few days as he watches the measure take effect. Right?
Wrong. Actually, shepherding into law one of the biggest pieces of legislation in U.S. history may turn out to be among the easiest things Obama has to do in his first 100 days as president. On Tuesday alone, within hours of Obama's signing the stimulus bill:
• GM and Chrysler announced that they want billions more in federal aid, and that they plan to shed 50,000 jobs worldwide and shutter more than a dozen plants.
• The Dow fell nearly 300 points, while "the sharpness of the global slowdown has alarmed economists, who see no obvious engine for recovery."
• The polar ice caps melted completely, flooding every coastal city and creating apocalyptic super-storms. Okay, that didn't happen. But would you have been surprised?
February 18, 2009; 8:15 AM ET
Categories: The Rundown
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