President Bush Unveils Economic Stimulus Package

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With Bill Clinton pounding away on the economy, even the Gulf War wasn-t enough to get George Bush, senior, re-elected. Today, at the Economic Club of Chicago, the second President Bush presented his $670 billion -economic stimulus package,- which includes an end to income taxes on corporate dividends and help for the unemployed. Democrats have already denounced it, claiming it will give help mainly to those who don-t need it. Even some business groups are concerned about unintended consequences. As investors look forward to possible war and another presidential campaign, we hear the pros and cons of the President-s plan and handicap its chances for passage with correspondents for BusinessWeek, the LA Times, a national pollster, a former Bush economic speechwriter and President Clinton-s director of the Office of Management and Budget. Newsmaker: Global Forces Continue Build-up at Iraqi Border Secretary of Defense Donald Rumsfeld repeated today that war with Iraq is a last resort, and not -inevitable.- Yet, America-s troop buildup continues, and today Britain said it will mobilize 1500 soldiers. Elizabeth Manning, who covers the Pentagon as deputy foreign editor for United Press International, offers an update on the actions and reactions of France and the United Kingdom. Reporter-s Notebook: Remembering Hollywood Legends George Roy Hill and Conrad Hall In 1969, the Oscar winning Butch Cassidy and the Sundance Kid made a star out of an unknown Robert Redford. In the past two weeks, both the director and cinematographer have died. George Roy Hill died at 81 after battling Parkinson-s disease. Conrad Hall was 76 when he succumbed to complications from bladder cancer. Hollywood is mourning their passing, but no one more than Robert Redford, the man whose career they gave such a boost.
With Bill Clinton pounding away on the economy, even the Gulf War wasn-t enough to get George Bush, senior, re-elected. Today, at the Economic Club of Chicago, the second President Bush presented his $670 billion -economic stimulus package,- which includes an end to income taxes on corporate dividends and help for the unemployed. Democrats have already denounced it, claiming it will give help mainly to those who don-t need it. Even some business groups are concerned about unintended consequences. As investors look forward to possible war and another presidential campaign, we hear the pros and cons of the President-s plan and handicap its chances for passage with correspondents for BusinessWeek, the LA Times, a national pollster, a former Bush economic speechwriter and President Clinton-s director of the Office of Management and Budget.
  • Newsmaker: Global Forces Continue Build-up at Iraqi Border
    Secretary of Defense Donald Rumsfeld repeated today that war with Iraq is a last resort, and not -inevitable.- Yet, America-s troop buildup continues, and today Britain said it will mobilize 1500 soldiers. Elizabeth Manning, who covers the Pentagon as deputy foreign editor for United Press International, offers an update on the actions and reactions of France and the United Kingdom.
  • Reporter-s Notebook: Remembering Hollywood Legends George Roy Hill and Conrad Hall
    In 1969, the Oscar winning Butch Cassidy and the Sundance Kid made a star out of an unknown Robert Redford. In the past two weeks, both the director and cinematographer have died. George Roy Hill died at 81 after battling Parkinson-s disease. Conrad Hall was 76 when he succumbed to complications from bladder cancer. Hollywood is mourning their passing, but no one more than Robert Redford, the man whose career they gave such a boost.

Response of PM Tony Blair of the UK

President Bush-s Economic Stimulus Package

Department of Commerce

Department of Labor

Department of the Treasury

Credits

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Warren Olney