Obama´s plan for reviving economy

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Source: CCTV.com | 02-01-2009 13:25

US President Barack Obama says his administration will soon outline a new strategy for spending billions of federal dollars to pull the nation out of an financial crisis he described as devastating.

US President Barack Obama speaks at the White House in Washington, DC.(AFP/File/Mandel Ngan)

Obama and his top advisers are weighing how to structure the remaining 350 billion dollars of a financial rescue package approved last year by Congress.

Barack Obama, US President, said, "Soon my Treasury Secretary, Tim Geithner, will announce a new strategy for reviving our financial system that gets credit flowing to businesses and families. We'll help lower mortgage costs and extend loans to small businesses so they can create jobs. We'll ensure that CEOs are not draining funds that should be advancing our recovery. And we will insist on unprecedented transparency, rigorous oversight, and clear accountability-so taxpayers know how their money is being spent and whether it is achieving results. Rarely in history has our country faced economic problems as devastating as this crisis."

Editor:Zhang Pengfei