Senior democrats agree for $ 780 bn US economic plan

Written by: Super Admin
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Washington, Feb 7: The US economic stimulus bill has been accepted by senior democrats with the condition that the bill amount should be worth $780 bn, instead of the $900 bn sought by the President, Barack Obama, in order to gain vital Republican support.

Obama has frowned at the delay of the bills, which mixes big spending plans and tax cuts.

The voting by the Republican is due at the end of this week.

President Obama reacting to the present situation said, there is an urgent and growing crisis and said, further Senate delays would be 'inexcusable and irresponsible' and lead to 'a catastrophe'.

His comments came as the latest unemployment figures showed that the US had had its single worst month for job losses for 35 years.

Almost 600,000 people lost their jobs in Jan alone - figures Mr Obama described as devastating.

OneIndia News (With inputs from Agencies)

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