Open

Coming up

Don't miss

Replay


LATEST SHOWS

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

FASHION

Paris, Haute Couture Fall/Winter 2014-2015.

Read more

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FRANCE IN FOCUS

Politics: parties under pressure

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

  • Hamas and Israel sustain fire despite missed targets

    Read more

  • The third-place playoff: the World Cup game no one wants to play

    Read more

  • Last of the Ramones, Tommy Ramone, dies aged 62

    Read more

  • Legal challenge to French mayor’s ban of Muslim hijab on beach

    Read more

  • Video: Outrage in wake of deadly Casablanca buildings collapse

    Read more

  • Ukraine promises retaliation after rebel assault

    Read more

  • Putin revives old Cuban flame and eyes Latin American minerals

    Read more

  • Kerry holds all-night talks with Afghan presidential rivals

    Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Cleveland's NBA fans hail 'return of king' LeBron James

    Read more

  • Exclusive: an unlikely victim of the 'War on Terror'

    Read more

  • Magnitude 6.8 quake, small tsunami hit east Japan

    Read more

  • Suspect in Brussels Jewish Museum shooting drops extradition appeal

    Read more

  • Are French high school students getting smarter?

    Read more

  • In pictures: Chanel, Dior and so much more at the Paris couture shows

    Read more

Security tightens as inauguration approaches

©

Video by Shona BHATTACHARYYA , FRANCE 2

Latest update : 2009-01-14

Barack Obama is considered a target for several reasons - for being the next president of the United States, by terrorists like Al Qaeda, and for being the first black man in the Oval Office, by racist groups.

AFP - Top Senate Democrat Harry Reid said Tuesday the Senate was likely to approve the release of a second 350-billion-dollar financial bailout package this week aimed at stimulating the US economy.
  
"I think we will get the necessary votes," the majority leader told reporters after meeting with president-elect Barack Obama and Democratic senators, adding that he felt "very confident" about prospects for the bill's passage.
  
Reid added that the resolution would come up for a vote before Sunday.
  
Obama, wrapping up his final visit to the US Capitol ahead of his inauguration as president on January 20, waved to reporters but made no comment following the talks.
  
The president-elect had asked outgoing President George W. Bush to request lawmakers unlock the second half of the massive 700-billion-dollar Wall Street bailout package approved in October, which Bush did on Monday.
  
A day later, Obama held an hour-plus lunch meeting with lawmakers to plead his cause.
  
Obama is set to use the funds to try to boost the flagging US economy and overcome the credit squeeze by encouraging investment and spending. Some measures are also set to be taken to stem the number of foreclosures.
  
But some lawmakers voiced concern.
  
"What we really need is something with more details so that we can truly make those decisions about how the money is going to be spent," said Democratic senator Ben Nelson.
  
"They talk about conditions but I don't know what the conditions are."
  
Senate Banking Committee chairman Chris Dodd acknowledged that the release of the bailout funds was urgently needed, even if it was not certain to reverse the downfall of the US economy.
  
"This is not a popular vote, and it never has been... but this is a top issue because we got into this situation that requires action," Dodd told reporters.
  
"As the president-elect said, this is a tool that's needed," the Democrat and former White House hopeful added.
  
"If you want to get credit flowing no one can guarantee that this going to do it exactly. But in the absence the ability to get credit flowing becomes much more difficult."
  
Reid said that the group shared a "recognition that the country's in a deep economic crisis, but there's a way out of it," as long as the administration sets a "robust" economic recovery plan to create jobs and restore market confidence.
  
According to estimates, the stimulus package that Obama's economic team is crafting could cost as much as 800 billion dollars over two years.
  
Democratic Senator Chuck Schumer said that "getting it (the stimulus package) on the desk of the president by February 13 is very good likelihood now."
  
Meanwhile, the proper use of the 700 billion dollar bailout approved under the Bush administration, called the Troubled Asset Relief Program (TARP), was also key, Reid said.
  
"Second thing that's important is the TARP legislation, that we must approve that, for a number of reasons, the most important of which is the ability to do something about housing," he said.
  
The funds are needed, he said " to bring about growth in cities and counties and communities all over America."
  

Date created : 2009-01-14

Comments

COMMENT(S)