President Barack Obama will begin a Western swing today to sign into law a $787 billion stimulus act and introduce a plan to tackle the home mortgage crisis.
Stimulus becomes law
Today's bill signing in Denver will enact a stimulus plan to create or save 3.5 million jobs and boost consumer spending with government investments in education, alternative energy and social services such as health care, unemployment insurance and food stamps.
Mortgage crisis plan
Tomorrow in Phoenix, Obama is expected to roll out a plan to stem the meteoric rise in foreclosures, possibly with large incentive payments designed to encourage lenders to lower rates or reduce the principal owed by borrowers. The number of homeowners who faced foreclosure proceedings last year - 2.3 million - marked an 80 percent rise from 2007, but analysts warn that foreclosures could rise further.
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