Obama seeks stimulus as jobs die, carmakers bleed

NEW YORK (Reuters) - U.S.

NEW YORK (Reuters) - The transition team of President-elect Barack Obama is considering a swift prepackaged bankruptcy for automakers as an answer to the financial woes of the sector, reported Bloomberg News on Friday, citing a person familiar with the matter.

On the one year anniversary of the passage of the ARRA, it seems appropriate to recap, not what the academics say, but what the business sector forecasters say about the impact of the stimulus package. The Private Sector Forecasters I can think of no better graphic to depict the bottom line that this one, originally posted in November.

With the economy in crisis, President-elect Barack Obama pledged Monday to honor the commitments the outgoing Bush administration has made to rescue financial markets and urged the new, incoming Congress to pass a major stimulus package "right away" to restore growth and create jobs.

NEW YORK (Reuters) - U.S. President-elect Barack Obama urged the Bush administration to back a second economic stimulus package and aid the ailing auto industry on Tuesday, after fresh reports of economic weakness in China, Japan and Britain reinforced fears of a prolonged recession.