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To fight the existing and the persisting economic menace, President elect Barack Obama seems to have a plan, which he needs to get passed by the US Congress. While making announcements about the plan Obama has retreated that the US economy is in a state of dire sickness. According to him the situation is getting worse and that the government needs to act now in order to break the momentum of the recession. Obama’s proposal includes tax cuts divided between individuals and corporates in order to provide stimulus to production as well as consumption.
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