Doubt clouds new US stimulus plan

Many are skeptical that the $600bn pumped into economy will help revive it as anger grows over government spending.

     

    Republicans have taken control over the US House of Representatives after Tuesday's mid-term elections mainly due to voters' frustration with Obama's failure to speed up economic recovery.

    The US central bank has announced a fresh stimulus plan dubbed "quantitative easing" as part of a bid to boost the economy. The Federal Reserve says it will pump $600bn into the economy after it had injected $787bn worth of economic measures in the American Recovery and Reinvestment Act of 2009.

    Kimberly Halkett reports on how many are sceptical of the plan after anger over "excessive" government spending culminated in the congressional elections.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Unification: Saladin and the Fall of Jerusalem

    Unification: Saladin and the Fall of Jerusalem

    We explore how Salah Ed-Din unified the Muslim states and recaptured the holy city of Jerusalem from the crusaders.