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White House Letter to Congressional Leaders Requests $50 Billion in Emergency Aid

In his letter to bi-partisan Congressional leadership President Obama highlights “the devastating economic impact of budget cuts at the state and local levels that are leading to massive layoffs of teachers, police and firefighters.” Je goes on to request support for his small business legislation that “includes a new lending initiative to help creditworthy firms access loans through community banks and innovative state partnerships…”

  • See also this related letter from the White House Council of Economic Advisers.
  • Related postings on financial system
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