WASGINGTON: US Senate has approved the stimulus bailout package of $838 billion for overcoming the deteriorating economic situation.
US Senate voted 63 in favour, while 61 opposed the stimulus bailout package.
The stimulus amount of $819 billion was subjected to bitter criticism in the House of Representatives last week and the Senate members had given approval to this package but it was cut down to $780 billion from $819 billion, however it has now been increased to $838 billion.
It’s a major victory for the Obama economic team. However, the final approval of this Bill from the House of Representative is yet to be taken. Obama’s stimulus package would help surmount the existing catastrophic joblessness in US.
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