• From The BBC:

    US President Barack Obama has welcomed Congress’s approval of his 7bn (£548bn) economic stimulus package.
    He described it as a “historic step” and “major milestone on our road to recovery”, and is expected to sign the bill into law early next week.
    The Senate approved the measure with just three Republican votes, hours after the House of Representatives backed it without Republican support.
    Mr Obama has said the plan will “save or create more than 3.5 million jobs”.
    Republicans argue the tax cuts are insufficient, and that the economy will be saddled with debt for years to come.
    Members of both houses of Congress reached a deal over the content of the stimulus package on Wednesday.
    The BBC’s Kevin Connolly in Washington says the first set-piece drama of the Obama era ended in a comfortable but not entirely unqualified victory for the president, who had hoped for more bipartisan support.
    All 176 Republicans and seven Democrats voted against the revised package in the House. It…

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    Posted by Jon @ 1:45 pm

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