If anti-crisis plan is not approved, USA will face threat of catastrophe: Barack Obama
The U.S. President Barack Obama urged the Congress to immediately approve his anti-crisis plan, otherwise catastrophe will befall in the economy of the USA, BBC tele-radio corporation reported on Feb. 8.
On Feb. 6, enlisting the support of several Republican senators, the Democrats agreed upon compromised bill, in which the amount of anti-crisis packet was nearly $780 billion, which is considerably less than the sum of $937 billion envisaged earlier.
"If we do not put this plan into action immediately, our economic crisis can transform into national catastrophe," the President said on Feb. 7.
According to Obama, the plan of stimulation of the economy is "absolutely necessary" and it is time to act.
According to the report, published last Friday by the U.S. Department of Labor, the GDP of the country in the fourth quarter of 2008 reduced 3.8 percent according to the preliminary data. This is the largest fall of main economic indicator since 1982, RIA Novosti reports.