Posted AT 7:59 PM EST on 17/01/08
U.S. economy teeters on the brink
WASHINGTON — In a bid to save the world's largest economy from recession, U.S. President George W. Bush and central bank chief Ben Bernanke yesterday endorsed a $100-billion stimulus package as the spreading housing mess continued to hammer banks, consumers and investors.
The rare plug for fiscal action comes as a growing number of economists say the United States is either in recession or perilously close to it.
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