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News Now

Washington
CUNA in IPoliticoI on economic challenges Obama faces
WASHINGTON (1/21/09)--Credit Union National Association (CUNA) Chief Economist Bill Hampel was quoted in Politico Monday about the economic challenges President Barack Obama will face in his term. Obama has won Senate approval to release the second half of the $700 billion Troubled Assets Relief Program, the article said. “It really doesn’t matter what they spend it on. They just need to spend it so someone gets income,” Hampel told Politico. “It would be nice if they spent it on useful things, but that doesn’t really matter. They just need to start spending money quickly.” Hampel also commented on the market’s turnaround. “The good news is that three years from now, it is almost inconceivable that the economy won’t look a whole lot better than it looks now,” he said. For the full article, use the link.
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