And in fact the painful no had climbed 7For example Peugeot is in tenth place with 189 millionIt would be to install a production capacity of 16No interview not even the shadow of a forum3 billion pounds if markets still fell by 406 of the household budget in the Insee indexTotal costs would far exceed the benefitsThis market will not dry up any time soonAmbitious targetThe financial dimension is fearHuge productivity gains weighed on pricesNot without difficult and not without criticism, the US President comes to win his first major political victory. Less than a month after his arrival at the White House, he should sign today its colossal $ 787 billion stimulus plan, after its final adoption by the House of representatives Friday (246 voices against 183) and by the Senate (to 60 votes against 38, with 3 moderate Republicans rallying). "I will enact the Act without delay and we will immediately launch the investment needed to give work to people," announced this weekend Barack Obama, which expects this plan creating or saving 3.5 million jobs over two years. One month will be required to unblock the funds.
Limit the bonus
A last minute surprise shocked Wall Street... and the White House. The Act provides that all companies which have already received assistance from the State will have to limit their leaders bonus equivalent to one-third of their annual salary. These bonuses will be distributable equity themselves assignable once the State will be reimbursed. The same order measures announced by the Government last week were that future aid and were not retroactive. The Treasury Secretary Tim Geithner and Lawrence Summers, the President of the National Economic Council, tried in vain to persuade the Democratic Senators to waive. They fear that banks hurry to repay their assistance and thus reduce the effectiveness of the support plan to provide capital to lend again. The new law allows indeed banks to repay without previously within the capital, that previously required the Treasury.
Even if the Obama administration is opposed, this measure should yet not compromising the signature of the text. A $ 787 billion, the final compromise is less than the text adopted on 28 January by the House of representatives (819 billion) and that the bill approved Tuesday by the Senate (838 billion) last. But according to Harry Reid, the leader of the Democratic majority of the Senate "more than a third of the sum is devoted to tax cuts for the middle class" should be "95 of American workers": a reduction of $ 400 per person and $ 800 per couple. Republican senators have for their part managed to save their amendment deleting in 2009 the "alternative minimum tax", intended originally to prevent the richest is exempt from tax by tax niches, but paid today by a good part of the middle classes. A cost of $ 70 billion.
The Republican opposition is nevertheless insufficient housing aid and too much public spending. In fact, some 65 of the envelope are devoted to public spending.
Insufficient expenditure
Side aid credits to support the unemployed compensation, in addition to millions of recipients of social aid in particular should receive a cheque for $ 250. With regard to infrastructure, the final text exceeds even the expectations of the White House, with a $ 120 billion dollars (against 60 billion promised during the campaign). But many economists consider these expenditures still insufficient to have a strong effect on employment. Some 46 billion are planned for transport infrastructure (27.5 billion for roads, 8.4 billion for urban transport, 9.3 billion for the train, including the high speed...). The text also plans to invest heavily in the electricity and renewable energy, science, technology, health, and with regard to education, in the modernisation of schools. This last point, which was much Obama, was ripped struggles by the speaker of the House of representatives, Nancy Pelosi, 3 aligned Republican senators did not want. A compromise was found via the creation of a Fund of $ 54 billion, in which States can draw for the renovation of schools existing, but not to build new, the envelope to assist States to complete their budget without sacrificing the social and educational positions having been significantly reduced in the final text.
