U.S. Financial system Recovery Strong Signals
U.S. Treasury Secretary Timothy Geithner said that because of improved economic and financial situation in some of the measures taken by the U.S. government is no longer necessary, transmits Associated Press.
This statement he made during a speech in front of the Control panel of the U.S. Congress, which is responsible for oversight of the effectiveness of spending on federal anti-crisis program assistance.
According to T. Geithner, the country is still much to do until the "true economic recovery will happen, but the improved situation with the situation of banks and other financial institutions have led to" the government begins to slowly turn off a program of financial support. " "The financial system shows very strong signals of recovery," he said.
Recall bailout plan proposed by the administration of President Barack Obama and supported by the Senate and the U.S. Congress would allocate 787 billion dollars to provide financial assistance to American industry.
Administration Barack Obama is considering a new economic program as a key step towards restoring the U.S. economy, which is already more than half is in a recession, experiencing the worst crisis since the Great Depression. In 2008. U.S. economy has lost 2.6 million jobs. Barack Obama hopes that his economic program will create up to 4 million new jobs. In addition, the White House plan assumes an increase of unemployment, reconstruction of transport infrastructure, investment in new technologies, including alternative energy.
